SUMITOMO MITSUI BANKING CORPORATION 401(K) PLAN
- Address: 277 PARK AVENUE 6TH FLOOR,NEW YORK,NY
- Contact person: CHRISTINE CUTRONA
- Phone: (212) 224-4000
SUMITOMO MITSUI BANKING CORPORATION 401(K) PLAN has the following features:
Automatic Enrollment: It provides automatic enrollment with elective contributions deducted from payroll.
Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.
Self-directed Brokerage: It allows participants or employees to allocate part or all of its account to a self directed brokereage account as an investment option.
At the end of 2022, the total retirement plan assets of SUMITOMO MITSUI BANKING CORPORATION 401(K) PLAN is $473,116,384.00.This plan was established in 1991.
At the end of 2022, the total number of retirement plan participants in SUMITOMO MITSUI BANKING CORPORATION 401(K) PLAN is 3715
In 2022, the average participant retirement account value for SUMITOMO MITSUI BANKING CORPORATION 401(K) PLAN is $127,352.00
In 2022, the estimated average employee contribution amount per participant for SUMITOMO MITSUI BANKING CORPORATION 401(K) PLAN is $12,884.00
In 2022, the estimated average employer match for an employee in SUMITOMO MITSUI BANKING CORPORATION 401(K) PLAN is approximately $4,041.00
In 2022, SUMITOMO MITSUI BANKING CORPORATION 401(K) PLAN allocates $15,014,900.00 to match its employees' contributions, providing an employer match rate of 33.93% of their contributions
In 2022, the total retirement plan asset growth rate of SUMITOMO MITSUI BANKING CORPORATION 401(K) PLAN is -7.76%
In 2022, the estimated aggregate retirement account investment gain/loss for SUMITOMO MITSUI BANKING CORPORATION 401(K) PLAN is -14.68%. This measures the effectiveness of the plan participants' investments in the year.
In 2022, the investment and administrative expense ratio of SUMITOMO MITSUI BANKING CORPORATION 401(K) PLAN is 0.13%.
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