Retirement plan

FINANCIAL HEALTH FEDERAL CREDIT UNION 401(K) PLAN

Name: FINANCIAL HEALTH FEDERAL CREDIT UNION - FINANCIAL HEALTH FEDERAL CREDIT UNION 401(K) PLAN (2020) Form 5500
Creator: FINANCIAL HEALTH FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FINANCIAL HEALTH FEDERAL CREDIT UNION 401(K) PLAN, FINANCIAL HEALTH FEDERAL CREDIT UNION

FINANCIAL HEALTH FEDERAL CREDIT UNIONEIN 35-1533991Plan #001PY 2020

777 INDIANA AVENUE - INDIANAPOLIS, IN 462013101317-559-7272fhealthfcu.orgLinkedIn11-50 employeesfinancial services

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$1M

-25.7% from 2019

Total participants

-30.0% from 2019

Average account balance

$53,784

-14.0% from 2019

Annual return

12.55%

-2.43 pp from 2019

Benchmarks

See 32,151 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort32,151 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$771K

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

68.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$72K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+11.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$21342

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 codes2E2F2G2J2T3D

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

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.)

Expense breakdown

Schedule H Part II

Admin total

$625K

$36757 / participant

Other / not subdivided$625K100.0%

% of EOY assets

61.149%

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

$53,784

$197,625-72.8%

$177,840-69.8%

$158,966-66.2%

Participation rate

88.2%

88.5%-0.3pp

87.7%+0.5pp

82.0%+6.3pp

Annual return

12.55%

58.76%-46.2pp

48.32%-35.8pp

302.95%-290.4pp

Employer contribution / active EE

$2,587

$6,698-61.4%

$5,919-56.3%

$4,762-45.7%

Participant deferral / active EE

$2,587

$8,405-69.2%

$7,714-66.5%

$5,983-56.8%

Admin fee / account holder

$32,888

$15,405+113.5%

$12,431+164.6%

$11,250+192.3%

FINANCIAL HEALTH FEDERAL CREDIT UNION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FINANCIAL HEALTH FEDERAL CREDIT UNION 401(K) PLAN

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