Retirement plan

A B FEDERAL CREDIT UNION BASIC 401(K) PLAN AND TRUST

Name: A B FEDERAL CREDIT UNION - A B FEDERAL CREDIT UNION BASIC 401(K) PLAN AND TRUST (2024) Form 5500
Creator: A B FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, A B FEDERAL CREDIT UNION BASIC 401(K) PLAN AND TRUST, A B FEDERAL CREDIT UNION

A B FEDERAL CREDIT UNIONEIN 23-6397354Plan #002PY 2024

871 30TH ST - ALTOONA, PA 166011726814-944-4025abfederalcu.comLinkedIn1-10 employees

Other plans on this EIN

1 filing

#001Retirement--

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$71K

+21.8% from 2023

Total participants

+33.3% from 2023

Average account balance

$35,382

+21.8% from 2023

Annual return

14.54%

-5.32 pp from 2023

Benchmarks

See 37,071 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,071 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$71K

Not enough data

1 years with asset history on file

Average account balance

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

$35K

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.

50.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+14.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$88

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 codes2F2G2T2J2E3D

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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$175

$44 / participant

Other / not subdivided$175100.0%

% of EOY assets

0.247%

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

$35,382

$201,370-82.4%

$184,256-80.8%

$145,897-75.7%

Participation rate

50.0%

87.5%-37.5pp

86.8%-36.8pp

80.3%-30.3pp

Annual return

14.54%

29.05%-14.5pp

28.85%-14.3pp

552.29%-537.8pp

Employer contribution / active EE

$7,024-100.0%

$6,427-100.0%

$4,663-100.0%

Participant deferral / active EE

$1,058

$9,808-89.2%

$9,133-88.4%

$6,689-84.2%

Admin fee / account holder

$88

$16,364-99.5%

$13,899-99.4%

$13,390-99.3%

A B FEDERAL CREDIT UNION BASIC 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

A B FEDERAL CREDIT UNION BASIC 401(K) PLAN AND TRUST

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