Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › Lakeland Bancorp
Lakeland Bancorp 401(k)
- Finance and insurance
- Oak Ridge, NJ
- EIN 22-2953275
- 1 plan with Schedule H financials
- Plan year 2023
- Lakeland Bancorp, Inc.
- SEC registrant Lakeland Bancorp Inc
Administrative expenses excluding investment management, per participant · Lakeland Bancorp, Inc. Salary Savings 401(k) Plan and Trust · plan year 2023
$103.61
Higher than 62% of the 7,895 plans $50 to 250M that report it.
Source
= $111,281 / 1,074
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20241015112824NAL0055769266001, received 2024-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20241015112824NAL0055769266001, received 2024-10-15
Percentiles compare this plan with the Schedule H plans $50 to 250M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2023-01-01 to 2023-12-31, filing received 2024-10-15.
Cost and contributions
Administrative expenses per participant
$188.29
Higher than 74% of the 8,189 plans $50 to 250M that report it.
Source
= $202,223 / 1,074
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20241015112824NAL0055769266001, received 2024-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20241015112824NAL0055769266001, received 2024-10-15
Administrative expenses as a share of assets
0.188%
Higher than 68% of the 8,206 plans $50 to 250M that report it.
Source
= $202,223 / $107,411,350
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20241015112824NAL0055769266001, received 2024-10-15
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20241015112824NAL0055769266001, received 2024-10-15
Employer contributions per participant
$2,045
Higher than 36% of the 8,268 plans $50 to 250M that report it.
Source
= $2,196,098 / 1,074
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20241015112824NAL0055769266001, received 2024-10-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20241015112824NAL0055769266001, received 2024-10-15
Employer share of total contributions
23.2%
Higher than 28% of the 8,285 plans $50 to 250M that report it.
Source
= $2,196,098 / $9,472,845
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20241015112824NAL0055769266001, received 2024-10-15
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20241015112824NAL0055769266001, received 2024-10-15
Plan terms, as stated in Lakeland Bancorp, Inc.'s SEC filings
Plan terms are described in Lakeland Bancorp, Inc.'s SEC filings: Form 10-K filed 2024-02-28. No term could be quoted from them with the required precision.
Plan features
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2S pre-approved plan document · 2T default investment (QDIA) · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20241015112824NAL0055769266001, received 2024-10-15
Full record, Lakeland Bancorp, Inc. Salary Savings 401(k) Plan and Trust
| Field | Value | Source |
|---|---|---|
| Plan sponsor | LAKELAND BANCORP, INC. | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Plan name | LAKELAND BANCORP, INC. SALARY SAVINGS 401(K) PLAN AND TRUST | Form 5500, line 1a; PLAN_NAME pos 16; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Sponsor EIN / plan number | 22-2953275 / 002 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Sponsor location | OAK RIDGE, NJ | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Industry (business code) | 522110, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Plan year | 2023-01-01 to 2023-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Filing received | 2024-10-15 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Participants, beginning of year | 1,135 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Active participants | 842 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Participants, end of year | 1,108 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Participants with an account balance | 1,074 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Total assets, beginning of year | $92,292,185 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Total assets, end of year | $107,411,350 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Net assets, end of year | $107,411,350 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Total income | $24,320,750 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Net income | $15,119,165 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Employer contributions | $2,196,098 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Participant contributions | $6,913,105 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Other contributions (incl. rollovers) | $363,642 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Total contributions | $9,472,845 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Benefit payments | $8,999,362 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Total expenses (incl. benefit payments) | $9,201,585 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Total administrative expenses | $202,223 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Contract administrator fees | $111,281 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Investment advisory and management fees | $90,942 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Administrative expenses excluding investment management | $111,281 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Held in common/collective trusts | $7,352,665 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Held in mutual funds | $97,830,528 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20241015112824NAL0055769266001, received 2024-10-15 |
| Independent auditor | NISIVOCCIA LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20241015112824NAL0055769266001, received 2024-10-15 |
Position = column in the DOL layout for form year 2023. Filing 20241015112824NAL0055769266001, received 2024-10-15.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| JOHN HANCOCK RETIREMENT PLAN SRVCSrecordkeeper | RETAINED BY EMPLOYER | 15 Recordkeeping and information management; 37 Participant loan processing; 62 Float revenue; 64 Recordkeeping fees | $131,723 | yes |
| GALLAGHER FIDUCIARY ADVISORS, LLC | RETAINED BY EMPLOYER | 27 Investment advisory (plan) | $50,000 | no |
| NISIVOCCIA LLP | RETAINED BY EMPLOYER | 10 Accounting (including auditing) | $20,500 | no |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20241015112824NAL0055769266001, received 2024-10-15.
No filing for the previous plan year is in the data, so there is no year-over-year comparison.
Alerts, claims and corrections
Sponsor name as filed: LAKELAND BANCORP, INC.; SEC registrant: LAKELAND BANCORP INC (CIK 846901, matched by EIN; display name from the Form 10-K cover).