New York › Finance and insurance › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Ponce Bank Employee Stock Ownership Plan With 401(k) Provisions
Sponsored by Ponce Bank, Bronx, NY
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Ponce Bank Employee Stock Ownership Plan With 401(k) Provisions is an employee stock ownership plan sponsored by Ponce Bank of Bronx, New York. For the plan year ending 31 Dec 2024 it reported 371 participants, 336 of them active, and net assets of $26.3M.
Net assets came to $70,834 per participant, well above the $48,746 median for defined contribution plans with 250 to 499 participants and well below the $92,294 median for defined contribution plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $1.4M during the year, or $4,028 per active participant against a same-size median of $2,017; participants contributed $1.1M and $40K arrived as rollovers and other contributions. Benefits paid out totalled $1.7M.
Schedule C lists 1 service provider organisation paid $5,000 or more, with reported compensation of $21K: $57.57 per participant, well below the same-size median of $141. Administrative expenses charged to the plan were $21K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $2.9M in 2018 to $26.3M in 2024 (up 809%), and participants from 237 to 371 (up 57%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $70,834 | $48,746 | $92,294 | $53,102 |
| Employer contributions per active participant | $4,028 | $2,017 | $3,564 | $2,175 |
| Schedule C compensation per participant | $57.57 | $141 | $137 | $123 |
| Schedule C compensation, share of net assets | 0.08% | 0.30% | 0.17% | 0.26% |
| Administrative expenses per participant | $57.57 | $133 | $130 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,456 plans), finance and insurance (4,391) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 371 | $26.3M | $70,833 | $1.4M | $1.1M | $21K |
| 2023 | 269 | $17.8M | $66,115 | $1.4M | $1.1M | $38K |
| 2022 | 271 | $14.6M | $53,701 | $1.4M | $961K | $33K |
| 2021 | 236 | $16.3M | $69,208 | $1.2M | $787K | $0 |
| 2020 | 148 | $2.0M | $13,338 | $578K | — | $0 |
| 2019 | 154 | $4.6M | $30,117 | $578K | — | $0 |
| 2018 | 237 | $2.9M | $12,194 | $578K | — | $0 |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$17,784,870
- Employer contributions$1,353,324
- Participant contributions$1,078,445
- Rollovers and other contributions$39,573
- Total contributions$2,471,342
- Total income, including investment results$10,536,010
- Benefits paid$1,734,086
- Administrative expenses$21,357
- Total expenses$2,041,501
- Net income$8,494,509
- Net transfers$0
- Net assets, end of year$26,279,379
Participants
- Active participants336
- Retired or separated, receiving benefits28
- Retired or separated, entitled to future benefits7
- Participants with account balances271
- Total participants, end of year371
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Empower Life & Annuity Insurance | Recordkeeping fees | $21,357 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Recordkeeping fees$21,357
- Total administrative expenses$21,357
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Employer securities$25.3M · 65.7%
- Registered investment companies (mutual funds)$11.8M · 30.6%
- Common/collective trusts$791K · 2.1%
- Participant loans$571K · 1.5%
- Receivables$35K · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmForvis Mazars LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $6,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2PLeveraged ESOP2IStock bonus3IPlan requiring that all or part of employer contributions be invested and held in employer securities
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 522120: Savings Institutions.
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Silver Lake 401(k) Plan | Silver Lake Technology Management LLC | 372 | $119M | $318,909 |
| PDT 401(k) Plan | PDT Partners, LLC | 368 | $101M | $275,656 |
| Moneylion, Inc. 401(k) Profit Sharing Plan | Moneylion, Inc. | 372 | $19.8M | $53,204 |
| CFG Savings & Profit Sharing Plan | Columbian Mutual Life Insurance Company | 365 | $76.4M | $209,349 |
| Ulster Savings Bank 401(k) Plan | Ulster Savings Bank | 376 | $64.4M | $171,371 |
| Alti Global Holdings, LLC 401(k) Profit Sharing Plan | Alti Global Holdings, LLC | 360 | $72.4M | $201,115 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is Ponce Bank Employee Stock Ownership Plan With 401(k) Provisions?
371 participants at the end of the plan year ending 31 Dec 2024, of whom 336 were active employees, with net assets of $26,279,379. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,456 plans in plan year 2024.
What does Ponce Bank contribute per participant?
The filing reports $1,353,324 in employer contributions for the year, which is $4,028 per active participant; the median for plans of the same type and size was $2,017 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $21,357 in compensation to service provider organisations, $57.57 per participant or 0.08% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $21,357. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Ponce Bank. Recordkeeping or administration: Empower Life & Annuity Insurance. The financial statements were audited by Forvis Mazars LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 14 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 82-2922475, plan 003, received 14 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.