Plan Snapshot
- Plan Sponsor: Sumitomo Corporation Of Americas
- Sponsor EIN: 135612163
- Sponsor Address: 300 MADISON AVENUE, NEW YORK, NY, 10017
- Plan Type: 401(k)
- Total Participants: 729
- Total Assets: $55.2M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- 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 | 729 | $55.2M | $2.8M | $4.0M |
| 2023 | 621 | $47.6M | $2.4M | $3.5M |
| 2022 | 565 | $38.7M | $2.1M | $3.2M |
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 |
|---|---|---|---|---|
| TRANSAMERICA RETIREMENT SOLUTIONS | RECORD KEEPER | $75,833 | — | $75,833 |
| LBMC, PC | AUDITOR | $16,300 | — | $16,300 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- TRANSAMERICA RETIREMENT SOLUTIONS — RECORD KEEPER
- LBMC, PC — AUDITOR
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $92,133
- Estimated Expense Ratio: 0.167% of plan assets
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 | $100,367 | $4,636 | — | $16,300 | — |
| 2023 | $90,474 | $6,720 | — | $17,000 | — |
| 2022 | $92,351 | $6,113 | — | — | $21,809 |