Retirement plan

CORNERSTONE COMMUNITY FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN

Name: CORNERSTONE COMMUNITY FEDERAL CREDIT UNION - CORNERSTONE COMMUNITY FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN (2023) 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 2023

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

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$16.4M

+21.9% from 2022

Total participants

173

+11.6% from 2022

Average account balance

$95,787

+9.8% from 2022

Annual return

18.59%

+31.08 pp from 2022

Benchmarks

See 2,152 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,152 peers

Snapshot2023

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 COMPANY3 years Service code 13 · EIN 42-0127290	Contract Administrator	$18,411

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

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$18K

$129 / participant

Contract admin$18K100.0%

% of EOY assets

0.112%

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

$95,787

$130,294-26.5%

$170,057-43.7%

$71,529+33.9%

Participation rate

98.6%

86.2%+12.4pp

87.0%+11.6pp

67.9%+30.7pp

Annual return

18.59%

20.36%-1.8pp

53.42%-34.8pp

28.97%-10.4pp

Employer contribution / active EE

$4,435

$4,385+1.2%

$6,790-34.7%

$2,590+71.3%

Participant deferral / active EE

$5,048

$6,928-27.1%

$10,411-51.5%

$4,291+17.6%

Admin fee / account holder

$108

$966-88.9%

$12,826-99.2%

$1,588-93.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3 years

Service code 13 · EIN 42-0127290

Contract Administrator

$18,411

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