Retirement plan

FIRST CHOICE CREDIT UNION 401(K) PLAN

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

FIRST CHOICE CREDIT UNIONEIN 39-1135610Plan #001PY 2020

1614 E. 4TH STREET - MARSHFIELD, WI 544494601715-387-8405

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$386K

+28.1% from 2019

Total participants

+30.0% from 2019

Average account balance

$32,171

+6.8% from 2019

Annual return

14.93%

-1.49 pp from 2019

Benchmarks

See 32,157 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort32,157 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$592K

Not enough data

1 years with asset history on file

Average account balance

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

$49K

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$57K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.88%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4437

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 codes2E2G2J3D2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$3K

$295 / participant

Other / not subdivided$3K100.0%

% of EOY assets

0.840%

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

$32,171

$197,603-83.7%

$177,827-81.9%

$158,950-79.8%

Participation rate

90.9%

88.5%+2.4pp

87.7%+3.2pp

82.0%+8.9pp

Annual return

14.93%

58.76%-43.8pp

48.32%-33.4pp

302.91%-288.0pp

Employer contribution / active EE

$1,602

$6,698-76.1%

$5,918-72.9%

$4,762-66.4%

Participant deferral / active EE

$2,019

$8,404-76.0%

$7,713-73.8%

$5,983-66.3%

Admin fee / account holder

$270

$15,402-98.2%

$12,429-97.8%

$11,248-97.6%

FIRST CHOICE CREDIT UNION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST CHOICE 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