Retirement plan

KEMBA CREDIT UNION PROFIT SHARING 401(K) PLAN AND TRUST

Name: KEMBA CREDIT UNION, INC. - KEMBA CREDIT UNION PROFIT SHARING 401(K) PLAN AND TRUST (2023) Form 5500
Creator: KEMBA CREDIT UNION, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KEMBA CREDIT UNION PROFIT SHARING 401(K) PLAN AND TRUST, KEMBA CREDIT UNION, INC.

KEMBA CREDIT UNION, INC.EIN 31-6034125Plan #003PY 2023

5600 CHAPPELL CROSSING BLVD. - WEST CHESTER, OH 45069513-762-5070kemba.comLinkedIn201-500 employeesbanking

Other plans on this EIN

1 filing

#001Retirement-$28.9M assets

Prospect flagsLow returns

Top hat statement on fileNQDC

Filed June 18, 2024 (most recent of 5 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

5600 Chappell Crossing Blvd.

West Chester, OH 45069

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Plans declared (3)

Kemba Credit Union Executive Benefit Plan No. 3 for Dan Sutton1 emp
Kemba Credit Union Executive Benefit Plan No. 2 for Andrew Dunn1 emp
Kemba Credit Union Executive Benefit Plan for Dan Schroer1 emp

Total covered: 3 employees

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Total assets (EOY)

$20.3M

+21.2% from 2022

Total participants

303

+5.2% from 2022

Average account balance

$67,782

+11.9% from 2022

Annual return

14.71%

+26.72 pp from 2022

Benchmarks

See 2,152 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,152 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$24.62M

Not enough data

1 years with asset history on file

Average account balance

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

$77K

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.

318

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.

98.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.38M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+14.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$68

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 2 by compensation

Provider	Service type	Compensation
DYNAMIC PENSION SERVICES, INC.3 years Filed as: DYNAMIC PENSION SERVICES INC. Service code 13 · EIN 31-1585572 SUITE A 2176 HEWITT AVE · KETTERING, OH 45440	Contract Administrator	$13,793
UBS FINANCIAL SERVICES INC2 years Filed as: UBS FINANCIAL SERVICE INC Service code 99 · EIN 13-2638166	Other Fees	$0

Plan features & details

Pension benefit codes2E2F2J2K2S3D

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).
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$18K

$71 / participant

Recordkeeping$18K100.0%

% of EOY assets

0.086%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: GBQ PARTNERS LLC
Auditor EIN: 202122306
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$67,782

$130,294-48.0%

$170,043-60.1%

$71,511-5.2%

Participation rate

98.4%

86.2%+12.2pp

87.0%+11.4pp

67.9%+30.5pp

Annual return

14.71%

20.36%-5.7pp

53.40%-38.7pp

28.86%-14.1pp

Employer contribution / active EE

$4,079

$4,385-7.0%

$6,790-39.9%

$2,589+57.5%

Participant deferral / active EE

$4,582

$6,928-33.9%

$10,410-56.0%

$4,291+6.8%

Admin fee / account holder

$59

$966-93.9%

$12,824-99.5%

$1,588-96.3%

Provider

Service type

Compensation

DYNAMIC PENSION SERVICES, INC.3 years

Filed as: DYNAMIC PENSION SERVICES INC.

Service code 13 · EIN 31-1585572

SUITE A 2176 HEWITT AVE · KETTERING, OH 45440

Contract Administrator

$13,793

UBS FINANCIAL SERVICES INC2 years

Filed as: UBS FINANCIAL SERVICE INC

Service code 99 · EIN 13-2638166

Other Fees

KEMBA CREDIT UNION PROFIT SHARING 401(K) PLAN AND TRUST

Top hat statement on fileNQDC

Plan administrator

Plans declared (3)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

KEMBA CREDIT UNION PROFIT SHARING 401(K) PLAN AND TRUST

Top hat statement on fileNQDC

Plan administrator

Plans declared (3)

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