Retirement plan

LOCAL 1233 FEDERAL CREDIT UNION MONEY PURCHASE PLAN AND TRUST

Name: LOCAL 1233 FEDERAL CREDIT UNION - LOCAL 1233 FEDERAL CREDIT UNION MONEY PURCHASE PLAN AND TRUST (2023) Form 5500
Creator: LOCAL 1233 FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LOCAL 1233 FEDERAL CREDIT UNION MONEY PURCHASE PLAN AND TRUST, LOCAL 1233 FEDERAL CREDIT UNION

LOCAL 1233 FEDERAL CREDIT UNIONEIN 23-7153087Plan #001PY 2023

PO BOX 4049 - NEWARK, NJ 071120049973-824-7246LinkedIn1-10 employeesbanking

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$309K

+13.2% from 2022

Total participants

-33.3% from 2022

Average account balance

$154,650

+13.2% from 2022

Annual return

4.25%

+8.73 pp from 2022

Benchmarks

See 36,180 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,180 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$393K

Not enough data

1 years with asset history on file

Average account balance

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

$196K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$25K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+4.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2C2F2G3D

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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.
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

$667

$334 / participant

Other / not subdivided$667100.0%

% of EOY assets

0.216%

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

$154,650

$185,856-16.8%

$170,028-9.0%

$139,456+10.9%

Participation rate

100.0%

87.8%+12.2pp

87.0%+13.0pp

80.3%+19.7pp

Annual return

4.25%

60.52%-56.3pp

53.39%-49.1pp

373.45%-369.2pp

Employer contribution / active EE

$12,552

$7,593+65.3%

$6,788+84.9%

$4,753+164.1%

Participant deferral / active EE

$11,623-100.0%

$10,409-100.0%

$6,711-100.0%

Admin fee / account holder

$334

$15,387-97.8%

$12,820-97.4%

$11,407-97.1%

LOCAL 1233 FEDERAL CREDIT UNION MONEY PURCHASE PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LOCAL 1233 FEDERAL CREDIT UNION MONEY PURCHASE 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