Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › Sandy Spring Bancorp
Sandy Spring Bancorp 401(k)
- Finance and insurance
- Olney, MD
- EIN 52-1532952
- 1 plan with Schedule H financials
- Plan year 2024
- Sandy Spring Bancorp, Inc.
- filed as Sandy Spring Bancorp, Inc
- SEC registrant Sandy Spring Bancorp Inc
Administrative expenses excluding investment management, per participant · Sandy Spring Bank 401(k) Plan · plan year 2024
$98.97
Higher than 53% of the 8,758 plans $50 to 250M that report it.
Source
= $160,528 / 1,622
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250708133910NAL0002717107001, received 2025-07-08
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250708133910NAL0002717107001, received 2025-07-08
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 2024-01-01 to 2024-12-31, filing received 2025-07-08.
Cost and contributions
Administrative expenses per participant
$98.97
Higher than 36% of the 9,042 plans $50 to 250M that report it.
Source
= $160,528 / 1,622
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250708133910NAL0002717107001, received 2025-07-08
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250708133910NAL0002717107001, received 2025-07-08
Administrative expenses as a share of assets
0.070%
Higher than 27% of the 9,049 plans $50 to 250M that report it.
Source
= $160,528 / $227,787,491
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250708133910NAL0002717107001, received 2025-07-08
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250708133910NAL0002717107001, received 2025-07-08
Employer contributions per participant
$3,657
Higher than 65% of the 9,105 plans $50 to 250M that report it.
Source
= $5,931,300 / 1,622
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250708133910NAL0002717107001, received 2025-07-08
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250708133910NAL0002717107001, received 2025-07-08
Employer share of total contributions
27.6%
Higher than 43% of the 9,112 plans $50 to 250M that report it.
Source
= $5,931,300 / $21,518,445
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250708133910NAL0002717107001, received 2025-07-08
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250708133910NAL0002717107001, received 2025-07-08
Plan terms, as stated in Sandy Spring Bancorp, Inc.'s SEC filings
Employer match
“The 401(k) provides that employees contributing to the 401(k) receive a matching contribution of 100% of the first 4% of compensation and 50% of the next 2% of compensation subject to employee contribution limitations.”
Form 10-K filed 2025-02-20, for the year ended 2024-12-31 · benefits note, 10-K benefits note · source document
Vesting
“The Company matching contribution vests immediately.”
Form 10-K filed 2025-02-20, for the year ended 2024-12-31 · benefits note, 10-K benefits note · source document
Terms quoted from the filing for the year ended 2024-12-31. Figures cover plan year 2024. The plan document governs.
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) · 3C · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250708133910NAL0002717107001, received 2025-07-08
Full record, Sandy Spring Bank 401(k) Plan
| Field | Value | Source |
|---|---|---|
| Plan sponsor | SANDY SPRING BANCORP, INC | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Plan name | SANDY SPRING BANK 401(K) PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Sponsor EIN / plan number | 52-1532952 / 002 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Sponsor location | OLNEY, MD | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Industry (business code) | 522110, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Filing received | 2025-07-08 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Participants, beginning of year | 1,659 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Active participants | 1,129 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Participants, end of year | 1,632 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Participants with an account balance | 1,622 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Total assets, beginning of year | $197,936,061 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Total assets, end of year | $227,787,491 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Net assets, end of year | $227,781,462 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Total income | $47,799,085 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Net income | $29,845,401 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Employer contributions | $5,931,300 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Participant contributions | $11,487,054 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Other contributions (incl. rollovers) | $4,100,091 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Total contributions | $21,518,445 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Benefit payments | $17,793,156 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Total expenses (incl. benefit payments) | $17,953,684 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Total administrative expenses | $160,528 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Contract administrator fees | $154,499 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Administrative expenses excluding investment management | $160,528 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Held in common/collective trusts | $132,686,594 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Held in mutual funds | $57,405,250 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250708133910NAL0002717107001, received 2025-07-08 |
| Independent auditor | SCHNEIDER DOWNS & CO., INC. | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250708133910NAL0002717107001, received 2025-07-08 |
Position = column in the DOL layout for form year 2024. Filing 20250708133910NAL0002717107001, received 2025-07-08.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANYrecordkeeper | CONTRACT ADMINISTRATOR | 13 Contract administrator; 37 Participant loan processing; 50 Direct payment from the plan; 64 Recordkeeping fees | $154,499 | yes |
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 20250708133910NAL0002717107001, received 2025-07-08.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $197,936,061 | $227,787,491 | 15.1% |
| Participants with a balance | 1,594 | 1,622 | 1.8% |
| Administrative expenses | $134,751 | $160,528 | 19.1% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $5,960,837 | $5,931,300 | -0.5% |
Prior filing 20240625125751NAL0008045777001, received 2024-06-25; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: SANDY SPRING BANCORP, INC; SEC registrant: SANDY SPRING BANCORP INC (CIK 824410, matched by EIN; display name from the Form 11-K cover).