The Bancorp, Inc. 401(k) Review & Grade
The Bancorp, Inc. 401(k) Plan
Wilmington, DEFinance & Insurance704 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,504Employer $ per active participant
$10,578Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$120.1MNet plan assets, end of year
$124,957Average balance per account
Score breakdown
- Employer generosity24.1 / 5048th percentile for employer $ per participant
- Low cost16.9 / 2568th percentile for low admin cost vs. same-size plans
- Employee saving11.7 / 1578th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 48th |
| Lower admin cost | 68th |
| Employee saving | 78th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,402 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Bancorp put in about $3,504 per active participant, below the typical peer ($3,606). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $2,466,855 |
| Participant (employee) contributions | $7,446,595 |
| Other contributions (incl. rollovers in) | $893,989 |
| Administrative expenses paid from the plan | $137,729 |
| Investment advisory & management fees | $27,933 |
| Benefits paid out | $5,434,152 |
| Net assets, start / end of year | $95.8M / $120.1M |
| Active participants, start / end of year | 641 / 767 |
| Participants with account balances | 961 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Crowe LLP |
| Employer stock held by plan | $16,964,042 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $109,790 reported compensation |
| Strategic Advisors, Inc. | $27,933 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250616165544NAL0001854800001, received 2025-06-16, EIN 23-3016517, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.