Retirement plan

MALDEN FEDERAL CREDIT UNION 401(K) RETIREMENT PLAN

Name: MALDEN FEDERAL CREDIT UNION - MALDEN FEDERAL CREDIT UNION 401(K) RETIREMENT PLAN (2020) Form 5500
Creator: MALDEN FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MALDEN FEDERAL CREDIT UNION 401(K) RETIREMENT PLAN, MALDEN FEDERAL CREDIT UNION

MALDEN FEDERAL CREDIT UNIONEIN 04-2116579Plan #001PY 2020

10 HOLDEN ST, STE 6 - MALDEN, MA 021485237781-324-2241

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$131K

+42.6% from 2019

Total participants

0.0% from 2019

Average account balance

$26,157

+42.6% from 2019

Annual return

20.17%

-4.61 pp from 2019

Benchmarks

See 32,149 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort32,149 peers

Snapshot2020

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$247K

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$62K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$20K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+10.96%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$507

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2T3D2J2E

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$879

$220 / participant

Other / not subdivided$879100.0%

% of EOY assets

0.672%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,157

$197,637-86.8%

$177,848-85.3%

$158,982-83.5%

Participation rate

100.0%

88.5%+11.5pp

87.7%+12.3pp

82.0%+18.0pp

Annual return

20.17%

58.77%-38.6pp

48.33%-28.2pp

302.99%-282.8pp

Employer contribution / active EE

$1,918

$6,698-71.4%

$5,919-67.6%

$4,763-59.7%

Participant deferral / active EE

$3,235

$8,405-61.5%

$7,714-58.1%

$5,983-45.9%

Admin fee / account holder

$176

$15,406-98.9%

$12,431-98.6%

$11,252-98.4%

MALDEN FEDERAL CREDIT UNION 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MALDEN FEDERAL CREDIT UNION 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion