Retirement plan

SPECIAL METALS FEDERAL CREDIT UNION BASIC CAPITAL ACCUMULATION PLAN

Name: SPECIAL METALS FEDERAL CREDIT UNION - SPECIAL METALS FEDERAL CREDIT UNION BASIC CAPITAL ACCUMULATION PLAN (2022) Form 5500
Creator: SPECIAL METALS FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPECIAL METALS FEDERAL CREDIT UNION BASIC CAPITAL ACCUMULATION PLAN, SPECIAL METALS FEDERAL CREDIT UNION

SPECIAL METALS FEDERAL CREDIT UNIONEIN 15-0626250Plan #033PY 2022

4340 MIDDLE SETTLEMENT RD - NEW HARTFORD, NY 134135316315-797-3575specialmetalsfcu.comLinkedIn1-10 employeesbanking

Prospect flagsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$155K

-4.1% from 2021

Total participants

0.0% from 2021

Average account balance

$51,592

-4.1% from 2021

Annual return

-12.08%

-19.18 pp from 2021

Benchmarks

See 35,205 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,205 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$212K

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.

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.

80.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+7.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$402

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 employer contribution
Employer 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

$1K

$447 / participant

Other / not subdivided$1K100.0%

% of EOY assets

0.866%

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

$51,592

$167,533-69.2%

$151,645-66.0%

$134,545-61.7%

Participation rate

100.0%

88.4%+11.6pp

87.5%+12.5pp

81.2%+18.8pp

Annual return

-12.08%

7.81%-19.9pp

3.34%-15.4pp

418.37%-430.5pp

Employer contribution / active EE

$982

$6,828-85.6%

$6,165-84.1%

$4,742-79.3%

Participant deferral / active EE

$3,364

$8,985-62.6%

$8,363-59.8%

$6,401-47.4%

Admin fee / account holder

$447

$13,781-96.8%

$11,614-96.2%

$11,431-96.1%

SPECIAL METALS FEDERAL CREDIT UNION BASIC CAPITAL ACCUMULATION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPECIAL METALS FEDERAL CREDIT UNION BASIC 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