Plan Snapshot
- Plan Sponsor: Preferred Bank
- Sponsor EIN: 954340199
- Sponsor Address: 601 SOUTH FIGUEROA STREET, LOS ANGELES, CA, 90017
- Plan Type: 401(k)
- Total Participants: 312
- Total Assets: $58.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 312 | $58.8M | $708,640 | $3.0M |
| 2023 | 284 | $50.6M | $672,934 | $2.9M |
| 2022 | 253 | $42.0M | $584,266 | $2.5M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| AUDIT AND TAX SOLUTIONS CPAS | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- AUDIT AND TAX SOLUTIONS CPAS — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $7,234 | — | — | — | — |
| 2023 | $16,895 | — | $16,895 | — | — |
| 2022 | $5,139 | — | $5,139 | — | — |