# Sumitomo Mitsui Banking Corporation 401(k) Plan
Source: https://planprovider.pro/companies/sumitomo-mitsui-banking-corporation-americas-division-401k-plan

> Sumitomo Mitsui Banking Corporation's 401(k) plan: 4,537 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Sumitomo Mitsui Banking Corporation

- **Sponsor EIN:** 135611820

- **Sponsor Address:** 277 PARK AVENUE 6TH FLOOR, NEW YORK, NY, 10172

- **Plan Type:** 401(k)

- **Total Participants:** 4,537

- **Total Assets:** $764.5M

## 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|4,537|$764.5M|$22.3M|$67.4M|

| 2023|4,155|$619.8M|$20.0M|$58.8M|

| 2022|3,721|$473.1M|$15.0M|$44.3M|

## 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|

| EMPOWER LIFE & ANNUITY INSURANCE CO|RECORDKEEPER|$445,501|—|$445,501|

| CAPFINANCIAL PARTNERS LLC DBA CAPTR|NONE|$110,000|—|$110,000|

| COHNREZNICK LLP|NONE|$88,800|—|$88,800|

| COHNREZNICK, LLP|Auditor|$88,800|—|$88,800|

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $733,101

- **Estimated Expense Ratio:** 0.096% 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|$655,610|$110,190|—|$88,800|—|

| 2023|$643,362|$110,000|—|$20,000|—|

| 2022|$623,919|$110,000|$456,012|—|$57,907|

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