Sumitomo Mitsui Banking Corporation401(k)
SUMITOMO MITSUI BANKING CORPORATION 401(K) PLAN · NEW YORK, NY · plan year 2024
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
Sumitomo Mitsui Banking Corporation reported $655,610 in plan administrative expenses for 2024: 0.09% of average plan assets, above the peer median. Employer contributions averaged $4,919 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio fell from 0.13% to 0.09%. The plan sits in the $250M–$1B size bracket, benchmarked here against 2,883 comparable plans and shown alongside other finance & insurance employers. By assets it is the 152nd-largest of 5,648 plans among New York employers on file, and the 225th of 4,798 in finance & insurance. In 2024, employees put in $3.02 for every $1.00 the employer contributed; active participation has grown from 3,721 to 4,537 since 2022.
Sumitomo Mitsui Banking Corporation's 2024 employer contribution ran above the $4,294 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.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 135611820 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.