Retirement plan

MARINE CREDIT UNION 401(K) PLAN

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

MARINE CREDIT UNIONEIN 39-0827305Plan #002PY 2024

300 2ND STREET NORTH - LA CROSSE, WI 54601608-791-1452marinecu.comLinkedIn201-500 employeesfinancial services

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed August 6, 2020 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$37.3M

+15.3% from 2023

Total participants

569

-14.7% from 2023

Average account balance

$67,907

+36.9% from 2023

Annual return

15.51%

-6.31 pp from 2023

Benchmarks

See 1,551 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,551 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$44.84M

Not enough data

1 years with asset history on file

Average account balance

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

$82K

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.

549

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.

95.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.65M

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

+18.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$374

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 5 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$70,736
GROVE POINT INVESTMENTS LLC2 years Service code 27 2440 RESEARCH BLVD STE 500 · ROCKVILLE, MD 20850	Advisory (Plan)	$67,834
ROLAND CRISS FIDUCIARY SERVICES1 year Filed as: ROLAND CRISS & WILLIAMS INC DBA ROL Service code 99 2011 E LAMAR BLVD STE 200 · ARLINGTON, TX 76006	Other Fees	$16,287
CLIFTONLARSONALLEN LLP4 years Service code 10 P.O. BOX 829709 · PHILADELPHIA, PA 19182	Accounting	$14,741
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$8,310

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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.
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

1 tripped

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

$178K

$426 / participant

Recordkeeping$71K39.8%
Investment mgmt$76K42.8%
Other / not subdivided$31K17.4%

% of EOY assets

0.476%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: $14,741
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$67,907

$129,021-47.4%

$184,203-63.1%

$77,643-12.5%

Participation rate

95.5%

87.3%+8.1pp

86.8%+8.6pp

70.6%+24.9pp

Annual return

15.51%

33.27%-17.8pp

28.81%-13.3pp

31.24%-15.7pp

Employer contribution / active EE

$2,085

$4,413-52.7%

$6,427-67.6%

$2,726-23.5%

Participant deferral / active EE

$5,827

$7,297-20.2%

$9,131-36.2%

$4,647+25.4%

Admin fee / account holder

$323

$254+27.4%

$13,901-97.7%

$430-24.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$70,736

GROVE POINT INVESTMENTS LLC2 years

Service code 27

2440 RESEARCH BLVD STE 500 · ROCKVILLE, MD 20850

Advisory (Plan)

$67,834

ROLAND CRISS FIDUCIARY SERVICES1 year

Filed as: ROLAND CRISS & WILLIAMS INC DBA ROL

Service code 99

2011 E LAMAR BLVD STE 200 · ARLINGTON, TX 76006

Other Fees

$16,287

CLIFTONLARSONALLEN LLP4 years

Service code 10

P.O. BOX 829709 · PHILADELPHIA, PA 19182

Accounting

$14,741

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$8,310

MARINE CREDIT UNION 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MARINE CREDIT UNION 401(K) PLAN

Top hat statement on fileNQDC

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