Sumitomo Mitsui Banking 401(k) match, vesting and fees
What Sumitomo Mitsui Banking's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Empower Life & Annuity Insurance Co | Schedule C ↗ |
| Independent auditor | Cohnreznick, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 118 defined-contribution plans in finance and insurance with 5,000 to 9,999 participants.
| Sumitomo Mitsui Banking: employer contribution per participant | $3,942 | |
| Peer median | $3,354 |
| Sumitomo Mitsui Banking: average balance | $135,049 | |
| Peer median | $126,365 |
| Sumitomo Mitsui Banking: admin expenses ÷ assets | 0.09% | |
| Peer median | 0.06% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $620M at the end of plan year 2023 to $765M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 5,799 | $765M | $22.3M | $3,942 | 0.09% | Not published | Form 5500 ↗ |
| 2023 | 5,342 | $620M | $20M | $3,856 | 0.12% | Not published | Form 5500 ↗ |
Other Sumitomo Mitsui Banking plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Sumitomo Mitsui Banking Corporation Retirement Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Independent auditor | Cohnreznick LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Common questions
Does Sumitomo Mitsui Banking match 401(k) contributions?
The match terms for the Sumitomo Mitsui Banking Corporation 401(k) Plan have not been published from its filing yet. The plan year 2024 filing reports $22.3M in employer contributions, about $3,942 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Sumitomo Mitsui Banking 401(k) match vested?
The vesting schedule for the Sumitomo Mitsui Banking Corporation 401(k) Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Sumitomo Mitsui Banking 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Life & Annuity Insurance Co. The plan administrator is Sumitomo Mitsui Banking Corporation.
I left Sumitomo Mitsui Banking. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Sumitomo Mitsui Banking Corporation, (212) 224-4000) or the recordkeeper, Empower Life & Annuity Insurance Co. The Sumitomo Mitsui Banking old 401(k) page lists the contacts from every plan filing. Find an old Sumitomo Mitsui Banking 401(k)
Data from the public Form 5500 annual reports Sumitomo Mitsui Banking filed with the U.S. Department of Labor (plan years 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Sumitomo Mitsui Banking. Not financial advice. Report a correction · Methodology