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 (2021) 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 2021

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

Prospect flagsLow returnsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$1.3M

-11.0% from 2020

Total participants

-6.7% from 2020

Average account balance

$93,124

-11.0% from 2020

Annual return

4.90%

+2.74 pp from 2020

Benchmarks

See 33,463 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort33,463 peers

Snapshot2021

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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$254K

$28257 / participant

Other / not subdivided$254K100.0%

% of EOY assets

19.507%

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

$93,124

$209,888-55.6%

$189,545-50.9%

$167,553-44.4%

Participation rate

100.0%

88.7%+11.3pp

87.8%+12.2pp

82.1%+17.9pp

Annual return

4.90%

748.66%-743.8pp

555.36%-550.5pp

478.89%-474.0pp

Employer contribution / active EE

$1,747

$6,915-74.7%

$6,162-71.6%

$4,840-63.9%

Participant deferral / active EE

$536

$8,934-94.0%

$8,220-93.5%

$6,343-91.6%

Admin fee / account holder

$18,165

$14,300+27.0%

$12,049+50.8%

$12,316+47.5%

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