Cathay General Bancorp 401(k) Review & Grade
The Cathay General Bancorp 401(k) Profit Sharing Plan
El Monte, CAFinance & Insurance1,193 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,610Employer $ per active participant
$9,115Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$259.6MNet plan assets, end of year
$159,835Average balance per account
Score breakdown
- Employer generosity25.0 / 5050th percentile for employer $ per participant
- Low cost16.3 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving10.5 / 1570th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 65th |
| Employee saving | 70th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,420 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Cathay General Bancorp put in about $3,610 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $4,306,451 |
| Participant (employee) contributions | $10,874,264 |
| Other contributions (incl. rollovers in) | $2,006,953 |
| Administrative expenses paid from the plan | $341,660 |
| Contract administrator fees | $8,000 |
| Investment advisory & management fees | $320,659 |
| Benefits paid out | $20,596,935 |
| Net assets, start / end of year | $228.9M / $259.6M |
| Active participants, start / end of year | 1,202 / 1,184 |
| Participants with account balances | 1,624 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Farber Hass Hurley, LLP |
Largest service providers (Schedule C)
| Benefit Financial Service | $289,728 reported compensation |
| Schwab Retirement Plan Services,inc | $36,782 reported compensation |
| Farber Hass Hurley LLP | $15,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250819110537NAL0003733632001, received 2025-08-19, EIN 95-4274680, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.