Amerant Bank, N.A. 401(k) Review & Grade
Amerant Bank, N.A. Retirement Benefits Plan
Coral Gables, FLFinance & Insurance702 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,343Employer $ per active participant
$8,909Employee $ saved per active participant
0.00%Direct admin cost, % of plan assets
$141.6MNet plan assets, end of year
$137,368Average balance per account
Score breakdown
- Employer generosity34.7 / 5069th percentile for employer $ per participant
- Low cost25.0 / 25100th percentile for low admin cost vs. same-size plans
- Employee saving10.3 / 1569th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 69th |
| Lower admin cost | 100th |
| Employee saving | 69th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Amerant Bank put in about $5,343 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $3,747,995 |
| Participant (employee) contributions | $6,249,340 |
| Other contributions (incl. rollovers in) | $1,539,062 |
| Administrative expenses paid from the plan | $1,100 |
| Investment advisory & management fees | $50,000 |
| Benefits paid out | $17,824,562 |
| Net assets, start / end of year | $129.5M / $141.6M |
| Active participants, start / end of year | 683 / 720 |
| Participants with account balances | 1,031 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| NFP Retirement Inc | $50,000 reported compensation |
| Fidelity Investments Institutional | −$48,751 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014104438NAL0002553361001, received 2025-10-14, EIN 59-1846933, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.