Retirement plan

UMASSFIVE COLLEGE FEDERAL CREDIT UNION 401(K) PLAN

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

UMASSFIVE COLLEGE FCUEIN 04-2430894Plan #001PY 2020

200 WESTGATE CENTER DRIVE - HADLEY, MA 01035413-256-5500

Prospect flagsHigh feesCorrective distributions

Top hat statement on fileNQDC

Filed March 20, 2017 (most recent of 2 filings on file)

Plan administrator

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PO Box 1060

Hadley State: MA Zip Code: 01035

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Plans declared (1)

UMassFive College FCU 457(b) Plan6 emp

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Total assets (EOY)

$13.1M

+19.5% from 2019

Total participants

144

-1.4% from 2019

Average account balance

$93,221

+20.4% from 2019

Annual return

18.05%

-8.17 pp from 2019

Benchmarks

See 2,211 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,211 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$16.78M

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

171

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.

98.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.47M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+13.04%

Not enough data

1 years with return on file

Admin fee / account holder

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

$412

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

1 years with F_SCH_H allocation on file

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Service providers

Top 10 of 12 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Service code 49 · EIN 04-1590850	Other Services	$55,778
UBS FINANCIAL SERVICES INC2 years Filed as: UBS FINANCIAL SERVICES, INC. Service code 27 · EIN 13-2638166	Advisory (Plan)	$26,841
AMERICAN FUNDS3 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
CALVERT3 years Service code 52 · EIN 52-1233223	Indirect Investment Fees	$0
COLUMBIA3 years Service code 52 · EIN 36-3376651	Indirect Investment Fees	$0
DIMENSIONAL FUND ADVISORS3 years Service code 52 · EIN 36-3129984	Indirect Investment Fees	$0
DODGE & COX3 years Service code 52 · EIN 94-6067274	Indirect Investment Fees	$0
FRANKLIN TEMPLETON2 years Filed as: FRANKLINTEMPLETON Service code 52 · EIN 59-6865210	Indirect Investment Fees	$0
GOLDMAN SACHS3 years Service code 52 · EIN 13-4166989	Indirect Investment Fees	$0
INVESCO3 years Service code 52 · EIN 84-1142974	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D2S2T

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$83K

$738 / participant

Investment mgmt$81K98.3%
Contract admin$1K1.7%

% of EOY assets

0.633%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CLIFTONLARSENALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$93,221

$136,307-31.6%

$177,840-47.6%

$73,493+26.8%

Participation rate

96.4%

86.1%+10.3pp

87.7%+8.7pp

70.7%+25.7pp

Annual return

18.05%

18.68%-0.6pp

48.32%-30.3pp

28.51%-10.5pp

Employer contribution / active EE

$5,075

$3,712+36.7%

$5,919-14.3%

$2,270+123.6%

Participant deferral / active EE

$4,446

$5,829-23.7%

$7,714-42.4%

$3,740+18.9%

Admin fee / account holder

$590

$596-0.9%

$12,431-95.3%

$513+15.0%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Service code 49 · EIN 04-1590850

Other Services

$55,778

UBS FINANCIAL SERVICES INC2 years

Filed as: UBS FINANCIAL SERVICES, INC.

Service code 27 · EIN 13-2638166

Advisory (Plan)

$26,841

AMERICAN FUNDS3 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

CALVERT3 years

Service code 52 · EIN 52-1233223

Indirect Investment Fees

COLUMBIA3 years

Service code 52 · EIN 36-3376651

Indirect Investment Fees

DIMENSIONAL FUND ADVISORS3 years

Service code 52 · EIN 36-3129984

Indirect Investment Fees

DODGE & COX3 years

Service code 52 · EIN 94-6067274

Indirect Investment Fees

FRANKLIN TEMPLETON2 years

Filed as: FRANKLINTEMPLETON

Service code 52 · EIN 59-6865210

Indirect Investment Fees

GOLDMAN SACHS3 years

Service code 52 · EIN 13-4166989

Indirect Investment Fees

INVESCO3 years

Service code 52 · EIN 84-1142974

Indirect Investment Fees

UMASSFIVE COLLEGE FEDERAL CREDIT UNION 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UMASSFIVE COLLEGE FEDERAL CREDIT UNION 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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