Retirement plan

VISIONS FEDERAL CREDIT UNION 401(K) PLAN

Name: VISIONS FEDERAL CREDIT UNION - VISIONS FEDERAL CREDIT UNION 401(K) PLAN (2017) Form 5500
Creator: VISIONS FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VISIONS FEDERAL CREDIT UNION 401(K) PLAN, VISIONS FEDERAL CREDIT UNION

VISIONS FEDERAL CREDIT UNIONEIN 16-0920502Plan #033PY 2017

24 MCKINLEY AVE - ENDICOTT, NY 13760607-786-2000visionsfcu.orgLinkedIn501-1000 employeesfinancial services

Other plans on this EIN

1 filing

#001Retirement-$83.9M assets

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed October 28, 2014 (most recent of 5 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$26.3M

+22.2% from 2016

Total participants

598

+7.0% from 2016

Average account balance

$45,739

+15.4% from 2016

Annual return

18.21%

+13.82 pp from 2016

Benchmarks

See 1,453 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,453 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$70.60M

Not enough data

1 years with asset history on file

Average account balance

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

$73K

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.

961

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.

98.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.63M

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

+15.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$22

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

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Service providers

Top 10 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Service code 33 · EIN 04-1590850	Soft dollars commissions; Securities ...	$5,149
CHARLES SCHWAB & CO., INC.3+ years Filed as: CHARLES SCHWAB & CO, INC. Service code 59 · EIN 94-1737782	Shareholder Servicing	$888
AMERICAN CENTURY1 year Service code 52 · EIN 94-3226139	Indirect Investment Fees	$0
AMERICAN FUNDS1 year Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
FRANKLIN TEMPLETON1 year Filed as: FRANKLINTEMPLETON Service code 52 · EIN 13-3151768	Indirect Investment Fees	$0
INVESCO1 year Service code 52 · EIN 95-2513084	Indirect Investment Fees	$0
MORGAN STANLEY SMITH BARNEY1 year Filed as: JP MORGAN Service code 52 · EIN 26-3613641	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT1 year Service code 52 · EIN 04-3379729	Indirect Investment Fees	$0
NORTHERN FUNDS1 year Service code 52 · EIN 20-8294681	Indirect Investment Fees	$0
OPPENHEIMER1 year Service code 52 · EIN 22-3849391	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K2R3D3F2S2T

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$5K

$9 / participant

Contract admin$5K100.0%

% of EOY assets

0.019%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$45,739

$81,537-43.9%

$149,721-69.5%

$69,631-34.3%

Participation rate

95.7%

86.1%+9.5pp

87.1%+8.6pp

70.7%+25.0pp

Annual return

18.21%

22.79%-4.6pp

1501.67%-1483.5pp

27571.02%-27552.8pp

Employer contribution / active EE

$1,496

$3,239-53.8%

$5,444-72.5%

$2,032-26.4%

Participant deferral / active EE

$3,373

$4,994-32.5%

$6,568-48.7%

$3,224+4.6%

Admin fee / account holder

$107-91.9%

$11,282-99.9%

$110-92.1%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Service code 33 · EIN 04-1590850

Soft dollars commissions; Securities ...

$5,149

CHARLES SCHWAB & CO., INC.3+ years

Filed as: CHARLES SCHWAB & CO, INC.

Service code 59 · EIN 94-1737782

Shareholder Servicing

$888

AMERICAN CENTURY1 year

Service code 52 · EIN 94-3226139

Indirect Investment Fees

AMERICAN FUNDS1 year

Service code 52 · EIN 95-1411037

Indirect Investment Fees

FRANKLIN TEMPLETON1 year

Filed as: FRANKLINTEMPLETON

Service code 52 · EIN 13-3151768

Indirect Investment Fees

INVESCO1 year

Service code 52 · EIN 95-2513084

Indirect Investment Fees

MORGAN STANLEY SMITH BARNEY1 year

Filed as: JP MORGAN

Service code 52 · EIN 26-3613641

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT1 year

Service code 52 · EIN 04-3379729

Indirect Investment Fees

NORTHERN FUNDS1 year

Service code 52 · EIN 20-8294681

Indirect Investment Fees

OPPENHEIMER1 year

Service code 52 · EIN 22-3849391

Indirect Investment Fees

VISIONS FEDERAL CREDIT UNION 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VISIONS FEDERAL CREDIT UNION 401(K) PLAN

Top hat statement on fileNQDC

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