Retirement plan

LUSO-AMERICAN CREDIT UNION 401(K) PLAN

Name: LUSO-AMERICAN CREDIT UNION - LUSO-AMERICAN CREDIT UNION 401(K) PLAN (2015) Form 5500
Creator: LUSO-AMERICAN CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LUSO-AMERICAN CREDIT UNION 401(K) PLAN, LUSO-AMERICAN CREDIT UNION

LUSO-AMERICAN CREDIT UNIONEIN 04-6066641Plan #001PY 2015

37 TREMONT ST - PEABODY, MA 019604429978-531-5767luso-american.comLinkedIn11-50 employeesbanking

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$1.4M

No prior year

Total participants

No prior year

Average account balance

$61,772

No prior year

Annual return

-1.26%

No prior year

Benchmarks

See 27,820 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort27,820 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.08M

Not enough data

1 years with asset history on file

Average account balance

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

$171K

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.

105.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$120K

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

+12.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$760

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

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

$9K

$587 / participant

Other / not subdivided$9K100.0%

% of EOY assets

0.620%

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

$61,772

$140,592-56.1%

$123,105-49.8%

$125,389-50.7%

Participation rate

100.0%

88.2%+11.8pp

86.8%+13.2pp

83.2%+16.8pp

Annual return

-1.26%

16.80%-18.1pp

13.22%-14.5pp

282.24%-283.5pp

Employer contribution / active EE

$3,053

$6,041-49.5%

$5,151-40.7%

$4,866-37.3%

Participant deferral / active EE

$2,212

$6,980-68.3%

$6,229-64.5%

$5,352-58.7%

Admin fee / account holder

$383

$11,198-96.6%

$9,014-95.8%

$9,541-96.0%

LUSO-AMERICAN CREDIT UNION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LUSO-AMERICAN CREDIT UNION 401(K) 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