Banc of California, Inc. 401(k) Review & Grade
Banc of California, Inc. 401(k) Plan
Santa Ana, CAFinance & Insurance2,158 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,149Employer $ per active participant
$9,424Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$327.3MNet plan assets, end of year
$115,759Average balance per account
Score breakdown
- Employer generosity28.9 / 5058th percentile for employer $ per participant
- Low cost17.0 / 2568th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1572th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-20 pts2 issues reported on the filing
Total score47 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 58th |
| Lower admin cost | 68th |
| Employee saving | 72th |
| Peers that auto-enroll | 62% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($149 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Prohibited transactions: the plan reported non-exempt transactions with a party in interest.
What to do if you're in this plan
- Banc of California put in about $4,149 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $8,955,524 |
| Participant (employee) contributions | $20,341,008 |
| Other contributions (incl. rollovers in) | $6,959,100 |
| Administrative expenses paid from the plan | $424,180 |
| Contract administrator fees | $288,333 |
| Investment advisory & management fees | $86,002 |
| Other admin expenses | $40,227 |
| Benefits paid out | $100,819,396 |
| Net assets, start / end of year | $341.0M / $327.3M |
| Active participants, start / end of year | 2,372 / 1,945 |
| Participants with account balances | 2,827 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Pension Assurance LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $240,140 reported compensation |
| Actuarial Benefits Corporation | $72,407 reported compensation |
| Strategic Advisors, Inc. | $57,888 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010165943NAL0004426163001, received 2025-10-10, EIN 04-3639825, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.