Retirement plan

CLEVELAND SELFRELIANCE FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Name: CLEVELAND SELFRELIANCE FEDERAL CREDIT UNION - CLEVELAND SELFRELIANCE FEDERAL CREDIT UNION 401(K) PLAN AND TRUST (2016) Form 5500
Creator: CLEVELAND SELFRELIANCE FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CLEVELAND SELFRELIANCE FEDERAL CREDIT UNION 401(K) PLAN AND TRUST, CLEVELAND SELFRELIANCE FEDERAL CREDIT UNION

CLEVELAND SELFRELIANCE FEDERAL CREDIT UNIONEIN 34-0830697Plan #001PY 2016

6108 STATE RD - PARMA, OH 441343702440-884-9111LinkedIn11-50 employees

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$1.3M

+2.7% from 2015

Total participants

+6.3% from 2015

Average account balance

$81,348

+2.7% from 2015

Annual return

2.95%

+2.12 pp from 2015

Benchmarks

See 30,342 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort30,342 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.24M

Not enough data

1 years with asset history on file

Average account balance

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

$89K

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.

116.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$39K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+3.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1049

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 codes2F2G2E2J3D2T

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

$53K

$4790 / participant

Other / not subdivided$53K100.0%

% of EOY assets

4.048%

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

$81,348

$153,769-47.1%

$133,975-39.3%

$273,972-70.3%

Participation rate

90.9%

88.4%+2.5pp

87.1%+3.8pp

83.0%+7.9pp

Annual return

2.95%

36.51%-33.6pp

29.29%-26.3pp

41.46%-38.5pp

Employer contribution / active EE

$1,484

$6,029-75.4%

$5,211-71.5%

$4,869-69.5%

Participant deferral / active EE

$3,059

$6,958-56.0%

$6,282-51.3%

$5,287-42.1%

Admin fee / account holder

$3,293

$11,765-72.0%

$9,324-64.7%

$10,133-67.5%

CLEVELAND SELFRELIANCE FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CLEVELAND SELFRELIANCE FEDERAL CREDIT UNION 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