Retirement plan

THE ANDOVERS FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Name: THE ANDOVERS FEDERAL CREDIT UNION - THE ANDOVERS FEDERAL CREDIT UNION 401(K) PLAN AND TRUST (2019) Form 5500
Creator: THE ANDOVERS FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE ANDOVERS FEDERAL CREDIT UNION 401(K) PLAN AND TRUST, THE ANDOVERS FEDERAL CREDIT UNION

THE ANDOVERS FEDERAL CREDIT UNIONEIN 04-2390208Plan #002PY 2019

19C LUPINE RD - ANDOVER, MA 018103909978-475-6133

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$196K

+29.1% from 2018

Total participants

+14.3% from 2018

Average account balance

$65,425

+29.1% from 2018

Annual return

16.93%

-98.27 pp from 2018

Benchmarks

See 31,989 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort31,989 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$399K

Not enough data

1 years with asset history on file

Average account balance

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

$133K

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.

42.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$26K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+9.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$89

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 codes2F2G2E2J3D

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.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

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

$65,425

$184,000-64.4%

$162,185-59.7%

$152,909-57.2%

Participation rate

37.5%

88.5%-51.0pp

87.6%-50.1pp

82.5%-45.0pp

Annual return

16.93%

150.80%-133.9pp

115.61%-98.7pp

345.46%-328.5pp

Employer contribution / active EE

$6,370-100.0%

$5,613-100.0%

$4,764-100.0%

Participant deferral / active EE

$2,313

$8,033-71.2%

$7,297-68.3%

$5,851-60.5%

Admin fee / account holder

$13,124-100.0%

$10,844-100.0%

$11,601-100.0%

THE ANDOVERS FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

THE ANDOVERS FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion