Retirement plan

BENCHMARK FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN

Name: BENCHMARK FEDERAL CREDIT UNION - BENCHMARK FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN (2019) Form 5500
Creator: BENCHMARK FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BENCHMARK FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN, BENCHMARK FEDERAL CREDIT UNION

BENCHMARK FEDERAL CREDIT UNIONEIN 23-6257323Plan #033PY 2019

PO BOX 2387 - WEST CHESTER, PA 193800114610-429-1600benchmarkfcu.orgLinkedIn11-50 employeesbanking

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$5.6M

-0.8% from 2018

Total participants

+2.4% from 2018

Average account balance

$133,215

-5.6% from 2018

Annual return

13.63%

+17.56 pp from 2018

Benchmarks

See 7,338 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,338 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.28M

Not enough data

1 years with asset history on file

Average account balance

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

$140K

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.

125.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$300K

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

+13.05%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9928

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$1.3M

$38687 / participant

Other / not subdivided$1M100.0%

% of EOY assets

22.818%

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

$133,215

$109,359+21.8%

$162,185-17.9%

$72,976+82.5%

Participation rate

100.0%

84.3%+15.7pp

87.6%+12.4pp

69.5%+30.5pp

Annual return

13.63%

25.46%-11.8pp

115.61%-102.0pp

81.02%-67.4pp

Employer contribution / active EE

$6,728

$3,907+72.2%

$5,613+19.9%

$2,440+175.7%

Participant deferral / active EE

$6,265

$5,481+14.3%

$7,297-14.1%

$3,608+73.7%

Admin fee / account holder

$30,397

$7,972+281.3%

$10,844+180.3%

$5,124+493.2%

BENCHMARK FEDERAL CREDIT UNION CAPITAL ACCUMULATION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BENCHMARK 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