Employers › Oceanfirst Bank › plan 002
Recordkeeping fees per participant · Retirement Plan for Oceanfirst Bank · plan year 2024
$158.56
Higher than 91% of the 5,847 plans $50 to 250M that report it.
= $201,692 / 1,272
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250715114450NAL0001568675001, received 2025-07-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250715114450NAL0001568675001, received 2025-07-15
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 2024-01-01 to 2024-12-31, filing received 2025-07-15.
Administrative expenses excluding investment management, per participant
$189.63
Higher than 83% of the 8,758 plans $50 to 250M that report it.
= $241,212 / 1,272
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250715114450NAL0001568675001, received 2025-07-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250715114450NAL0001568675001, received 2025-07-15
Administrative expenses per participant
$189.63
Higher than 68% of the 9,042 plans $50 to 250M that report it.
= $241,212 / 1,272
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250715114450NAL0001568675001, received 2025-07-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250715114450NAL0001568675001, received 2025-07-15
Administrative expenses as a share of assets
0.220%
Higher than 74% of the 9,049 plans $50 to 250M that report it.
= $241,212 / $109,607,791
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250715114450NAL0001568675001, received 2025-07-15
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250715114450NAL0001568675001, received 2025-07-15
Employer contributions per participant
$1,802
Higher than 28% of the 9,105 plans $50 to 250M that report it.
= $2,292,376 / 1,272
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250715114450NAL0001568675001, received 2025-07-15
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250715114450NAL0001568675001, received 2025-07-15
Employer share of total contributions
23.8%
Higher than 31% of the 9,112 plans $50 to 250M that report it.
= $2,292,376 / $9,617,001
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250715114450NAL0001568675001, received 2025-07-15
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250715114450NAL0001568675001, received 2025-07-15
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 20250715114450NAL0001568675001, received 2025-07-15
| Field | Value | Source |
|---|---|---|
| Plan sponsor | OCEANFIRST BANK | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Plan name | RETIREMENT PLAN FOR OCEANFIRST BANK | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Sponsor EIN / plan number | 21-0607451 / 002 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Sponsor location | TOMS RIVER, NJ | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Industry (business code) | 522120, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Filing received | 2025-07-15 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Participants, beginning of year | 1,326 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Active participants | 880 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Participants, end of year | 1,284 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Participants with an account balance | 1,272 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Total assets, beginning of year | $98,265,264 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Total assets, end of year | $109,607,791 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Net assets, end of year | $109,607,791 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Total income | $22,631,930 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Net income | $11,342,527 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Employer contributions | $2,292,376 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Participant contributions | $6,727,101 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Other contributions (incl. rollovers) | $597,524 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Total contributions | $9,617,001 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Benefit payments | $11,048,191 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Total expenses (incl. benefit payments) | $11,289,403 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Total administrative expenses | $241,212 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Recordkeeping fees | $201,692 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| IQPA audit fees | $39,520 | Schedule H, line 2i(4); IQPA_AUDIT_FEES_AMT pos 161; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Administrative expenses excluding investment management | $241,212 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Held in common/collective trusts | $3,983,627 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Held in mutual funds | $93,508,630 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250715114450NAL0001568675001, received 2025-07-15 |
| Independent auditor | FORVIS MAZARS, LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250715114450NAL0001568675001, received 2025-07-15 |
Position = column in the DOL layout for form year 2024. Filing 20250715114450NAL0001568675001, received 2025-07-15.
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| TRANSAMERICA RETIREMENT SOLUTIONSrecordkeeper | RECORD KEEPER | 12 Claims processing; 15 Recordkeeping and information management; 28 Investment management; 37 Participant loan processing; 38 Participant communication; 50 Direct payment from the plan; 54 Sales loads (front end and deferred); 59 Shareholder servicing fees; 61 Finders fees / placement fees; 62 Float revenue; 63 Distribution (12b-1) fees; 64 Recordkeeping fees; 65 Account maintenance fees | $201,692 | yes |
| MAZARS USA LLP | AUDITOR | 10 Accounting (including auditing); 50 Direct payment from the plan | $39,520 | no |
| NATIONAL FINANCIAL SERVICES | SECURITIES BROKER | 33 Securities brokerage; 71 Securities brokerage commissions and fees | $0 | 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 20250715114450NAL0001568675001, received 2025-07-15.
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $98,265,264 | $109,607,791 | 11.5% |
| Participants with a balance | 1,298 | 1,272 | -2.0% |
| Administrative expenses | $155,304 | $241,212 | 55.3% |
| Recordkeeping fees per participant | $90.80 | $158.56 | 74.6% |
| Employer contributions | $2,261,650 | $2,292,376 | 1.4% |
Prior filing 20240701094049NAL0002696835003, received 2024-07-01; the plan years are contiguous.