Retirement plan

RIVER WORKS CREDIT UNION CAPITAL ACCUMULATION PLAN

Name: RIVER WORKS CREDIT UNION - RIVER WORKS CREDIT UNION CAPITAL ACCUMULATION PLAN (2016) Form 5500
Creator: RIVER WORKS CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RIVER WORKS CREDIT UNION CAPITAL ACCUMULATION PLAN, RIVER WORKS CREDIT UNION

RIVER WORKS CREDIT UNIONEIN 04-6061145Plan #033PY 2016

947 WESTERN AVE - LYNN, MA 019052640781-599-0096rwcu.comLinkedIn11-50 employeesbanking

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$1.2M

+18.2% from 2015

Total participants

+13.6% from 2015

Average account balance

$47,292

+4.0% from 2015

Annual return

13.05%

+10.98 pp from 2015

Benchmarks

See 30,342 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort30,342 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.92M

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.

134.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$185K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+11.38%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6785

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 codes2E2F2G2J2T3D

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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$46K

$3090 / participant

Other / not subdivided$46K100.0%

% of EOY assets

3.921%

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

$47,292

$153,769-69.2%

$133,975-64.7%

$273,972-82.7%

Participation rate

100.0%

88.4%+11.6pp

87.1%+12.9pp

83.0%+17.0pp

Annual return

13.05%

36.51%-23.5pp

29.29%-16.2pp

41.46%-28.4pp

Employer contribution / active EE

$3,932

$6,029-34.8%

$5,211-24.5%

$4,869-19.2%

Participant deferral / active EE

$2,385

$6,958-65.7%

$6,282-62.0%

$5,287-54.9%

Admin fee / account holder

$1,854

$11,765-84.2%

$9,324-80.1%

$10,133-81.7%

RIVER WORKS CREDIT UNION CAPITAL ACCUMULATION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RIVER WORKS CREDIT UNION CAPITAL ACCUMULATION 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