Retirement plan

NUTMEG STATE FINANCIAL CREDIT UNION 401(K) PLAN

Name: NUTMEG STATE FINANCIAL CREDIT UNION - NUTMEG STATE FINANCIAL CREDIT UNION 401(K) PLAN (2022) Form 5500
Creator: NUTMEG STATE FINANCIAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NUTMEG STATE FINANCIAL CREDIT UNION 401(K) PLAN, NUTMEG STATE FINANCIAL CREDIT UNION

NUTMEG STATE FINANCIAL CREDIT UNIONEIN 06-0655039Plan #002PY 2022

500 ENTERPRISE DR., SUITE 4A - ROCKY HILL, CT 06067860-513-5000nutmegstatefcu.orgLinkedIn51-200 employeesbanking

Other plans on this EIN

1 filing

#003Retirement-$5.9M assets

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed April 17, 2025 (most recent of 2 filings on file)

Plan administrator

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500 Enterprise Drive, Suite Four A

Rocky Hill, CT 06067

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Plans declared (1)

Retention Payment Plan2 emp

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Total assets (EOY)

$5.9M

No prior year

Total participants

132

No prior year

Average account balance

$52,915

No prior year

Annual return

-13.50%

+97.54 pp from 2017

Benchmarks

See 7,130 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,130 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.93M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

112

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.

76.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$662K

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

-13.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$401

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

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
PCS RETIREMENT, LLC1 year Service code 12 · EIN 23-3038464	Claims processing; Consulting (pensio...	$8,432

Plan features & details

Pension benefit codes2E2J2K2F2G3D

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.
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

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

$45K

$529 / participant

Contract admin$45K100.0%

% of EOY assets

0.758%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: UHY LLP
Auditor EIN: 200694403
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$52,915

$110,083-51.9%

$151,645-65.1%

$68,490-22.7%

Participation rate

76.5%

84.0%-7.5pp

87.5%-11.0pp

67.9%+8.6pp

Annual return

-13.50%

-10.12%-3.4pp

3.34%-16.8pp

-7.85%-5.6pp

Employer contribution / active EE

$2,524

$4,470-43.5%

$6,165-59.1%

$2,597-2.8%

Participant deferral / active EE

$5,264

$6,526-19.3%

$8,363-37.0%

$4,028+30.7%

Admin fee / account holder

$401

$7,718-94.8%

$11,614-96.5%

$5,403-92.6%

Provider

Service type

Compensation

PCS RETIREMENT, LLC1 year

Service code 12 · EIN 23-3038464

Claims processing; Consulting (pensio...

$8,432

NUTMEG STATE FINANCIAL 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

NUTMEG STATE FINANCIAL 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