Retirement plan

CORNERSTONE COMMUNITY FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN

Name: CORNERSTONE COMMUNITY FEDERAL CREDIT UNION - CORNERSTONE COMMUNITY FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN (2021) Form 5500
Creator: CORNERSTONE COMMUNITY FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CORNERSTONE COMMUNITY FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN, CORNERSTONE COMMUNITY FEDERAL CREDIT UNION

CORNERSTONE COMMUNITY FEDERAL CREDIT UNIONEIN 16-0817398Plan #033PY 2021

6485 S TRANSIT ROAD - LOCKPORT, NY 140946331716-434-4703cornerstonecommunityfcu.orgLinkedIn51-200 employeesfinancial services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$15.2M

+9.2% from 2020

Total participants

161

-0.6% from 2020

Average account balance

$100,902

+17.2% from 2020

Annual return

14.10%

+0.65 pp from 2020

Benchmarks

See 2,179 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,179 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$18.85M

Not enough data

1 years with asset history on file

Average account balance

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

$105K

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.

179

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.

98.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.58M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+11.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$109

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
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$1,826

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

$73K

$526 / participant

Contract admin$73K100.0%

% of EOY assets

0.476%

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: FIRLEY MORAN FREER & EASSA, CPA, PC
Auditor EIN: 161148763
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$100,902

$121,341-16.8%

$189,545-46.8%

$79,389+27.1%

Participation rate

92.8%

86.1%+6.6pp

87.8%+4.9pp

70.7%+22.0pp

Annual return

14.10%

21.08%-7.0pp

555.36%-541.3pp

116.89%-102.8pp

Employer contribution / active EE

$3,768

$3,915-3.8%

$6,162-38.9%

$2,428+55.2%

Participant deferral / active EE

$4,381

$6,395-31.5%

$8,220-46.7%

$4,046+8.3%

Admin fee / account holder

$481

$651-26.2%

$12,049-96.0%

$626-23.3%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$1,826

CORNERSTONE COMMUNITY FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CORNERSTONE COMMUNITY 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