Retirement plan

CANANDAIGUA FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN

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

CANANDAIGUA FEDERAL CREDIT UNIONEIN 16-0976865Plan #033PY 2023

3210 EASTERN BOULEVARD - CANANDAIGUA, NY 144242210585-394-2436canandaiguafcu.comLinkedIn1-10 employeesbanking

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.2M

+29.3% from 2022

Total participants

0.0% from 2022

Average account balance

$170,651

+29.3% from 2022

Annual return

25.05%

+39.41 pp from 2022

Benchmarks

See 36,196 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,196 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.35M

Not enough data

1 years with asset history on file

Average account balance

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

$226K

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.

200.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$17K

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

+18.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$15140

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

$11K

$2788 / participant

Other / not subdivided$11K100.0%

% of EOY assets

0.934%

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

$170,651

$185,830-8.2%

$170,004+0.4%

$139,427+22.4%

Participation rate

100.0%

87.8%+12.2pp

87.0%+13.0pp

80.3%+19.7pp

Annual return

25.05%

60.52%-35.5pp

53.39%-28.3pp

373.27%-348.2pp

Employer contribution / active EE

$3,213

$7,591-57.7%

$6,786-52.6%

$4,752-32.4%

Participant deferral / active EE

$6,706

$11,622-42.3%

$10,408-35.6%

$6,711-0.1%

Admin fee / account holder

$1,593

$15,381-89.6%

$12,816-87.6%

$11,404-86.0%

CANANDAIGUA FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CANANDAIGUA 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