Mufg Bank, LTD 401(k) Review & Grade
Mufg Bank LTD. 401(k) Plan
New York, NYFinance & Insurance5,454 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,322Employer $ per active participant
$15,047Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$2.9BNet plan assets, end of year
$235,497Average balance per account
Score breakdown
- Employer generosity34.8 / 5070th percentile for employer $ per participant
- Low cost23.2 / 2593th percentile for low admin cost vs. same-size plans
- Employee saving13.9 / 1592th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score72 / 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 | 70th |
| Lower admin cost | 93th |
| Employee saving | 92th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $99,187 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mufg Bank put in about $6,322 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.
- 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 | $34,478,400 |
| Participant (employee) contributions | $82,064,143 |
| Other contributions (incl. rollovers in) | $13,627,059 |
| Administrative expenses paid from the plan | $664,622 |
| Contract administrator fees | $39,655 |
| Other admin expenses | $5,743 |
| Benefits paid out | $527,694,615 |
| Net assets, start / end of year | $2.9B / $2.9B |
| Active participants, start / end of year | 5,430 / 5,478 |
| Participants with account balances | 12,146 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Empower Retirement, LLC | $322,658 reported compensation |
| Alight Solutions LLC | $296,566 reported compensation |
| Alight Financial Solutions, LLC | $39,842 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251212124343NAL0008231521001, received 2025-12-12, EIN 13-5611741, plan #015, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.