Retirement plan

GHS FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN

Name: GHS FEDERAL CREDIT UNION - GHS FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN (2023) Form 5500
Creator: GHS FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GHS FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN, GHS FEDERAL CREDIT UNION

GHS FEDERAL CREDIT UNIONEIN 15-0535535Plan #033PY 2023

910 FRONT ST - BINGHAMTON, NY 13905607-723-7962ghsfcu.comLinkedIn11-50 employeesbanking

Other plans on this EIN

1 filing

#022Retirement-$3.3M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2M

+27.4% from 2022

Total participants

-10.6% from 2022

Average account balance

$55,862

+31.0% from 2022

Annual return

34.78%

+49.61 pp from 2022

Benchmarks

See 7,176 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,176 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.11M

Not enough data

1 years with asset history on file

Average account balance

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

$71K

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.

115.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$232K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+23.95%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1087

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

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

$313K

$10444 / participant

Other / not subdivided$313K100.0%

% of EOY assets

16.025%

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

$55,862

$125,797-55.6%

$170,057-67.2%

$75,177-25.7%

Participation rate

76.7%

83.6%-6.9pp

87.0%-10.3pp

67.2%+9.5pp

Annual return

34.78%

27.20%+7.6pp

53.42%-18.6pp

160.75%-126.0pp

Employer contribution / active EE

$2,572

$4,616-44.3%

$6,790-62.1%

$2,671-3.7%

Participant deferral / active EE

$3,656

$6,838-46.5%

$10,411-64.9%

$4,126-11.4%

Admin fee / account holder

$8,952

$8,177+9.5%

$12,826-30.2%

$5,651+58.4%

GHS FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GHS FEDERAL 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