Retirement plan

LCE FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

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

LCE FEDERAL CREDIT UNIONEIN 34-0908232Plan #002PY 2024

77 N SAINT CLAIR ST - PAINESVILLE, OH 440773958440-357-2560LinkedIn1-10 employeesbanking

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$1.2M

+0.6% from 2023

Total participants

0.0% from 2023

Average account balance

$83,273

+7.3% from 2023

Annual return

9.55%

-5.30 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

$1.25M

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

125.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$89K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+9.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13333

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 codes2F2G2T2J3D2E

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

$200K

$16666 / participant

Other / not subdivided$200K100.0%

% of EOY assets

16.011%

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

$83,273

$201,370-58.6%

$184,256-54.8%

$145,897-42.9%

Participation rate

91.7%

87.5%+4.2pp

86.8%+4.8pp

80.3%+11.4pp

Annual return

9.55%

29.05%-19.5pp

28.85%-19.3pp

552.29%-542.7pp

Employer contribution / active EE

$3,500

$7,024-50.2%

$6,427-45.5%

$4,663-24.9%

Participant deferral / active EE

$3,922

$9,808-60.0%

$9,133-57.1%

$6,689-41.4%

Admin fee / account holder

$13,333

$16,364-18.5%

$13,899-4.1%

$13,390-0.4%

LCE FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LCE 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