City National Bank 401(k) Review & Grade
City National Bank Profit Sharing Plan
Los Angeles, CAFinance & Insurance6,517 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,669Employer $ per active participant
$11,079Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$1.7BNet plan assets, end of year
$199,242Average balance per account
Score breakdown
- Employer generosity27.0 / 5054th percentile for employer $ per participant
- Low cost18.9 / 2576th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 76th |
| Employee saving | 76th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $68,191 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- City National Bank put in about $4,669 per active participant, more than the typical peer ($4,489). 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.
- 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 | $30,428,820 |
| Participant (employee) contributions | $72,199,761 |
| Other contributions (incl. rollovers in) | $22,559,165 |
| Administrative expenses paid from the plan | $894,249 |
| Investment advisory & management fees | $265,825 |
| Other admin expenses | −$500 |
| Benefits paid out | $165,589,518 |
| Net assets, start / end of year | $1.5B / $1.7B |
| Active participants, start / end of year | 6,487 / 6,547 |
| Participants with account balances | 8,541 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Moss Adams LLP |
| Employer stock held by plan | $106,529,786 |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $295,226 reported compensation |
| Empower Advisory Group, LLC | $207,685 reported compensation |
| Mercer (US) Inc | $78,030 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250814152842NAL0009963393001, received 2025-08-14, EIN 95-1780067, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.