OnlyBoth : Benchmarking Simcorp USA Inc. 401(K) Plan in New York, NY

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Benchmarking Simcorp USA Inc. 401(K) Plan in New York, NY against

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Simcorp USA Inc. 401(K) Plan in New York, NY has the least participant loans as a percentage of plan assets (0.00%) among the 56 plans in the Mid Atlantic whose industry group is Other Financial Investment Activities. That 0.00% compares to an average of 0.49% across those 56 plans.

Beating the average of 0.49% means a savings of $112,855 in participant loans.

Note: participant loans as a percentage of plan assets =
(100 * participant loans) ÷ total assets

Simcorp USA Inc. 401(K) Plan has these standings among those 56 peer plans:

participant loans as a percentage of plan assets = 0.00% (the least, tied)

participant loans = $0 (the least in, tied)

total assets = $22,833,659 (18th-least)

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whose industry group is. The industry group is the first four digits from the six-digit NAICS business code, Line 2d in Form 5500, which best describes the nature of the plan sponsor’s business, from the available list. If more than one employer or employee organization is involved, filers are asked to enter the business code for the main business activity of the employer and/or employee organizations. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
participant loans as a percentage of plan assets. Lower values are better. Participant loans as a percentage of plan assets equals participant loans, Line 1c(8) from Schedule H, divided by total assets, Line 1f(b) from Schedule H, times 100. A high value may indicate excessive borrowing from participants' retirement accounts. To qualify for participant loans as a percentage of plan assets, the number of total assets must be at least $50,000. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
in region. The 9 regions with their corresponding states or other geographic entities are: New England (CT ME MA NH RI VT), Mid Atlantic (DE DC MD NJ NY PA), Great Lakes (IL IN MI OH WI), Plains (IA KS MN MO NE ND SD), Southeast (AL AR FL GA KY LA MS NC SC TN VA WV), Southwest (AZ NM OK TX), Rocky Mountains (CO ID MT UT WY), Far West (AK CA HI NV OR WA), and Outlying Areas (VI PR GU AS MP). Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.

Profile

Simcorp USA Inc. 401(K) Plan in New York, NY is in New York, NY, its EIN is 134135820, its industry group is Other Financial Investment Activities, its plan administrator is Peter Bonfiglio, is a profit-sharing plan, covered by a fidelity bond, an ERISA section 404(c) plan, self-administered by the plan sponsor, is a single-employer plan, its business code is 523900, has 100 to 499 total participants, is better than the overall plan medians in each of total income, net income, participant loans as a percentage of plan assets, and yield on beginning-of-plan-year total assets (4 total), is better than the overall participant averages in each of net income per total participant, average account balance, active-participant contributions per head, and employer contributions per active participant (4 total), and is higher than the overall administrative medians in each of contract administrator fees, investment advisory and management fees, other administrative expenses, total administrative expenses, and total administrative expense ratio.

Numeric values:

total assets ($22,833,659)
net assets (assets minus liabilities) ($22.80M)
value of interest in pooled separate accounts ($22,651,749)
total assets at beginning of plan year ($17,648,567)
total income ($6,082,866)
net income ($5,185,092)
earnings on investments ($3,073,866)
net earnings on investments ($3,012,082)
total contributions ($3,009,000)
cash contributions from participants ($1,920,246)
total expenses ($897,774)
cash contributions from employers ($756,390)
loans (other than to participants) ($181,910)
average account balance ($114,742)
total administrative expenses ($106,535)
investment advisory and management fees ($61,784)
contract administrator fees ($44,201)
net income per total participant ($26,056)
average participant cash contribution per active participant ($13,063)
average employer cash contribution per active participant ($5,146)
other administrative expenses ($550)
total administrative expense per participant ($535.35)
total noninterest-bearing cash ($0)
receivables employer contributions ($0)
receivables participant contributions ($0)
other receivables (not employer nor participant contributions) ($0)
interest-bearing cash (e.g., money market accounts, certificates of deposit) ($0)
U.S. government securities ($0.0K)
corporate debt instruments (preferred & other than employer securities) ($0)
corporate debt instruments (below preferred & other than employer securities) ($0)
corporate preferred stocks (other than employer securities) ($0)
corporate common stocks (other than employer securities) ($0)
partnership/joint venture interests ($0)
real estate (other than employer real property) ($0)
participant loans ($0)
value of interest in common/collective trusts ($0)
value of interest in master trust investment accounts ($0.0K)
value of interest in 103-12 investment entities ($0)
value of interest in registered investment companies (e.g., mutual funds) ($0.0K)
value of funds held in insurance company general account (unallocated contracts) ($0)
other general investments ($0)
employer-related securities investments ($0)
employer-related real-property investments ($0)
buildings and other property used in plan operation ($0)
corrective distributions ($0)
professional fees ($0)
asset transfers to this plan ($0)
asset transfers from this plan ($0)
percentage of active participants (73.9%)
yield on beginning-of-plan-year total assets (17.07%)
diversity of asset types (1.5%)
total administrative expense ratio (0.470%)
participant loans as a percentage of plan assets (0.00%)
total cash as a percentage of plan assets (0.00%)
employer securities as a percentage of plan assets (0.00%)
active participants (147)
deceased participants whose beneficiaries receive or are entitled to benefits (0)
living participants (199)
other retired or separated participants entitled to future benefits (52)
retired or separated participants receiving benefits (0)
total participants (199)

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	in region
	in state
	participant loans
	total assets
	whose economic sector is
	whose industry group is
	loans (other than to participants)
	provide for automatic enrollment, or not
	value of interest in pooled separate accounts
	participant loans as a percentage of plan assets
	value of interest in registered investment companies (e.g., mutual funds)

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Benchmarking Simcorp USA Inc. 401(K) Plan in New York, NY against

most-similar plans

a group of plans you select