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SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 401k Plan overview

Plan NameSALLIE MAE CASH ACCOUNT RETIREMENT PLAN
Plan identification number 003

SALLIE MAE CASH ACCOUNT RETIREMENT PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • Plan covered by PBGC that was terminated and closed out for PBGC purposes - Before the end of the plan year (or a prior plan year), (1) the plan terminated in a standard (or distress) termination and completed the distribution of plan assets in satisfaction of all benefit liabilities (or all ERISA Title IV benefits for distress termination); or (2) a trustee was appointed for a terminated plan pursuant to ERISA section 4042.
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).

401k Sponsoring company profile

SLM CORPORATION has sponsored the creation of one or more 401k plans.

Company Name:SLM CORPORATION
Employer identification number (EIN):522013874
NAIC Classification:522291
NAIC Description:Consumer Lending

Additional information about SLM CORPORATION

Jurisdiction of Incorporation: State of Delaware Division of Corporations
Incorporation Date:
Company Identification Number: 2693555

More information about SLM CORPORATION

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SALLIE MAE CASH ACCOUNT RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032012-01-01GRETCHEN JOHNSON GRETCHEN JOHNSON2013-04-11
0032011-01-01GRETCHEN JOHNSON
0032010-01-01GRETCHEN JOHNSON GRETCHEN JOHNSON2011-10-07
0032009-01-01GRETCHEN JOHNSON GRETCHEN JOHNSON2010-10-11

Plan Statistics for SALLIE MAE CASH ACCOUNT RETIREMENT PLAN

401k plan membership statisitcs for SALLIE MAE CASH ACCOUNT RETIREMENT PLAN

Measure Date Value
2012: SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 2012 401k membership
Total participants, beginning-of-year2012-01-011,503
Total number of active participants reported on line 7a of the Form 55002012-01-010
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-010
Total of all active and inactive participants2012-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-010
Number of participants with account balances2012-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-010
2011: SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 2011 401k membership
Total participants, beginning-of-year2011-01-014,643
Total number of active participants reported on line 7a of the Form 55002011-01-01161
Number of retired or separated participants receiving benefits2011-01-01353
Number of other retired or separated participants entitled to future benefits2011-01-01949
Total of all active and inactive participants2011-01-011,463
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-0140
Total participants2011-01-011,503
Number of participants with account balances2011-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010
2010: SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-015,070
Total number of active participants reported on line 7a of the Form 55002010-01-011,974
Number of retired or separated participants receiving benefits2010-01-01344
Number of other retired or separated participants entitled to future benefits2010-01-012,305
Total of all active and inactive participants2010-01-014,623
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-0120
Total participants2010-01-014,643
Number of participants with account balances2010-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-010
2009: SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-015,483
Total number of active participants reported on line 7a of the Form 55002009-01-012,285
Number of retired or separated participants receiving benefits2009-01-01295
Number of other retired or separated participants entitled to future benefits2009-01-012,433
Total of all active and inactive participants2009-01-015,013
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-0157
Total participants2009-01-015,070
Number of participants with account balances2009-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on SALLIE MAE CASH ACCOUNT RETIREMENT PLAN

Measure Date Value
2012 : SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 2012 401k financial data
Total unrealized appreciation/depreciation of assets2012-09-19$0
Total transfer of assets from this plan2012-09-19$1,099,229
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-09-19$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-09-19$1,822,318
Total income from all sources (including contributions)2012-09-19$10,602,254
Total loss/gain on sale of assets2012-09-19$0
Total of all expenses incurred2012-09-19$85,771,196
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-09-19$85,323,635
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-09-19$9,974,976
Value of total assets at end of year2012-09-19$0
Value of total assets at beginning of year2012-09-19$78,090,489
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-09-19$447,561
Total interest from all sources2012-09-19$0
Total dividends received (eg from common stock, registered investment company shares)2012-09-19$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2012-09-19Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2012-09-19$0
Was this plan covered by a fidelity bond2012-09-19Yes
Value of fidelity bond cover2012-09-19$100,000,000
If this is an individual account plan, was there a blackout period2012-09-19No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-09-19$0
Were there any nonexempt tranactions with any party-in-interest2012-09-19No
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2012-09-19$82,530,259
Other income not declared elsewhere2012-09-19$4,367
Administrative expenses (other) incurred2012-09-19$447,561
Liabilities. Value of operating payables at beginning of year2012-09-19$327,837
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2012-09-19No
Value of net income/loss2012-09-19$-75,168,942
Value of net assets at end of year (total assets less liabilities)2012-09-19$0
Value of net assets at beginning of year (total assets less liabilities)2012-09-19$76,268,171
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2012-09-19No
Were any loans by the plan or fixed income obligations due to the plan in default2012-09-19No
Were any leases to which the plan was party in default or uncollectible2012-09-19No
Value of interest in common/collective trusts at beginning of year2012-09-19$70,006,306
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2012-09-19$8,084,183
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2012-09-19$8,084,183
Net investment gain or loss from common/collective trusts2012-09-19$622,911
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2012-09-19Yes
Was there a failure to transmit to the plan any participant contributions2012-09-19No
Has the plan failed to provide any benefit when due under the plan2012-09-19No
Contributions received in cash from employer2012-09-19$9,974,976
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2012-09-19$2,793,376
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32012-09-19No
Liabilities. Value of benefit claims payable at beginning of year2012-09-19$1,494,481
Did the plan have assets held for investment2012-09-19Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-09-19No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-09-19Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2012-09-19Yes
Opinion of an independent qualified public accountant for this plan2012-09-19Disclaimer
Accountancy firm name2012-09-19COHN REZNICK LLP
Accountancy firm EIN2012-09-19221478099
2011 : SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 2011 401k financial data
Total unrealized appreciation/depreciation of assets2011-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$1,822,318
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$187,169
Total income from all sources (including contributions)2011-12-31$19,115,462
Total loss/gain on sale of assets2011-12-31$0
Total of all expenses incurred2011-12-31$138,077,573
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$136,696,249
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$0
Value of total assets at end of year2011-12-31$78,090,489
Value of total assets at beginning of year2011-12-31$195,417,451
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$1,381,324
Total interest from all sources2011-12-31$1,984
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2011-12-31$0
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$100,000,000
If this is an individual account plan, was there a blackout period2011-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2011-12-31$1,206
Other income not declared elsewhere2011-12-31$79
Administrative expenses (other) incurred2011-12-31$1,381,324
Liabilities. Value of operating payables at end of year2011-12-31$327,837
Liabilities. Value of operating payables at beginning of year2011-12-31$187,169
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Value of net income/loss2011-12-31$-118,962,111
Value of net assets at end of year (total assets less liabilities)2011-12-31$76,268,171
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$195,230,282
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Value of interest in common/collective trusts at end of year2011-12-31$70,006,306
Value of interest in common/collective trusts at beginning of year2011-12-31$183,744,378
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2011-12-31$8,084,183
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2011-12-31$11,671,867
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2011-12-31$11,671,867
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2011-12-31$1,984
Net investment gain or loss from common/collective trusts2011-12-31$19,113,399
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31Yes
Was there a failure to transmit to the plan any participant contributions2011-12-31No
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$136,696,249
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32011-12-31No
Liabilities. Value of benefit claims payable at end of year2011-12-31$1,494,481
Liabilities. Value of benefit claims payable at beginning of year2011-12-31$0
Did the plan have assets held for investment2011-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31Yes
Opinion of an independent qualified public accountant for this plan2011-12-31Disclaimer
Accountancy firm name2011-12-31REZNICK GROUP
Accountancy firm EIN2011-12-31521088612
2010 : SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 2010 401k financial data
Total unrealized appreciation/depreciation of assets2010-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$187,169
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-12-31$92,969
Total income from all sources (including contributions)2010-12-31$14,626,970
Total loss/gain on sale of assets2010-12-31$0
Total of all expenses incurred2010-12-31$16,388,421
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-12-31$15,101,832
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-12-31$0
Value of total assets at end of year2010-12-31$195,417,451
Value of total assets at beginning of year2010-12-31$197,084,702
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-12-31$1,286,589
Total interest from all sources2010-12-31$21,063
Total dividends received (eg from common stock, registered investment company shares)2010-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-12-31Yes
Value of any plan assets that reverted to the employer resulting from resoluton to terminate the plan2010-12-31$0
Was this plan covered by a fidelity bond2010-12-31Yes
Value of fidelity bond cover2010-12-31$100,000,000
If this is an individual account plan, was there a blackout period2010-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
Were there any nonexempt tranactions with any party-in-interest2010-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2010-12-31$1,206
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2010-12-31$461
Other income not declared elsewhere2010-12-31$84,395
Administrative expenses (other) incurred2010-12-31$1,286,589
Liabilities. Value of operating payables at end of year2010-12-31$187,169
Liabilities. Value of operating payables at beginning of year2010-12-31$92,969
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Value of net income/loss2010-12-31$-1,761,451
Value of net assets at end of year (total assets less liabilities)2010-12-31$195,230,282
Value of net assets at beginning of year (total assets less liabilities)2010-12-31$196,991,733
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2010-12-31No
Were any leases to which the plan was party in default or uncollectible2010-12-31No
Value of interest in common/collective trusts at end of year2010-12-31$183,744,378
Value of interest in common/collective trusts at beginning of year2010-12-31$159,221,849
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2010-12-31$11,671,867
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2010-12-31$37,862,392
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2010-12-31$37,862,392
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2010-12-31$21,063
Net investment gain or loss from common/collective trusts2010-12-31$14,521,512
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-12-31Yes
Was there a failure to transmit to the plan any participant contributions2010-12-31No
Has the plan failed to provide any benefit when due under the plan2010-12-31No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-12-31$15,101,832
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32010-12-31No
Liabilities. Value of benefit claims payable at end of year2010-12-31$0
Liabilities. Value of benefit claims payable at beginning of year2010-12-31$0
Did the plan have assets held for investment2010-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-12-31Yes
Opinion of an independent qualified public accountant for this plan2010-12-31Disclaimer
Accountancy firm name2010-12-31REZNICK GROUP
Accountancy firm EIN2010-12-31521088612
2009 : SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for SALLIE MAE CASH ACCOUNT RETIREMENT PLAN

2012: SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingYes
2012-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedNo
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes
2010: SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009: SALLIE MAE CASH ACCOUNT RETIREMENT PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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