Plan Ledger DOL Form 5500 · updated monthly

Bank of China401(k)

BANK OF CHINA 401(K) PLAN · NEW YORK, NY · plan year 2024

Employer contribution per participant · 2024
$5,034

Bank of China's 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $169,702,768 across 1,172 participant accounts, with employer contributions averaging $5,034 per active participant. See methodology for what Form 5500 does and doesn't capture.

Across the 1 year on file its reported administrative ratio fell from 0.004% to 0.004%. The plan sits in the $50M–$250M size bracket, benchmarked here against 10,352 comparable plans and shown alongside other finance & insurance employers. By assets it is the 538th-largest of 5,648 plans among New York employers on file, and the 668th of 4,798 in finance & insurance. In 2024, employees put in $2.29 for every $1.00 the employer contributed; active participation has grown from 715 to 804 since 2022.

Plan summary
Net assets, end of year$169,702,768
Participants with balances1,172
Active participants804
Employer contributions$4,047,652
Employee contributions$9,283,646
Employer contribution per active participant$5,034
Average account balance$144,798
Benefits paid to participants$4,427,116
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$169.7M · 1,172 accts · $4.0M emplr
2023$137.5M · 1,108 accts · $3.5M emplr
2022$110.2M · 995 accts · $2.8M emplr
Administrative expenses, itemized · 2024
Audit (IQPA)$22,880
Total administrative-$58,684
The Bank of China 401(k) match · 2024
Employer contribution per active participant$5,034
Median for plans this size$3,635
2024$5,034 per active participant
2023$4,397 per active participant
2022$3,898 per active participant

Bank of China's 2024 employer contribution ran above the $3,635 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Service providers · 20243
FORVIS MAZARS, LLP · Accounting / audit$22,880
AMERIPRISE FINANCIAL SERVICES INCindirect comp
FIDELITY INVESTMENTS INSTITUTIONAL · Loan processingindirect comp

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Administrative cost history3
2024Not separately reported
2023$4,902 · 0.00%
2022$5,206 · 0.00%
Same employer
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Source: U.S. Department of Labor, Form 5500 series, EIN 133090509 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.