Retirement plan

MADISON FIRE DEPARTMENT CREDIT UNION BASIC 401(K) PLAN AND TRUST

Name: MADISON FIRE DEPARTMENT CREDIT UNION - MADISON FIRE DEPARTMENT CREDIT UNION BASIC 401(K) PLAN AND TRUST (2021) Form 5500
Creator: MADISON FIRE DEPARTMENT CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MADISON FIRE DEPARTMENT CREDIT UNION BASIC 401(K) PLAN AND TRUST, MADISON FIRE DEPARTMENT CREDIT UNION

MADISON FIRE DEPARTMENT CREDIT UNIONEIN 39-6050254Plan #001PY 2021

1437 MONROE ST - MADISON, WI 537112018608-266-4952

Prospect flagsLow returnsHigh feesLow assets / participant

How to read this page

Total assets (EOY)

$72K

+10.9% from 2020

Total participants

0.0% from 2020

Average account balance

$23,895

+10.9% from 2020

Annual return

8.67%

-1.53 pp from 2020

Benchmarks

See 33,465 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort33,465 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$95K

Not enough data

1 years with asset history on file

Average account balance

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

$32K

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.

150.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+9.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$604

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 codes2F2G2E2J3D

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.
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

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.
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

$2K

$918 / participant

Other / not subdivided$2K100.0%

% of EOY assets

2.560%

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

$23,895

$209,874-88.6%

$189,537-87.4%

$167,536-85.7%

Participation rate

100.0%

88.7%+11.3pp

87.8%+12.2pp

82.1%+17.9pp

Annual return

8.67%

748.61%-739.9pp

555.34%-546.7pp

478.82%-470.1pp

Employer contribution / active EE

$1,641

$6,913-76.3%

$6,161-73.4%

$4,839-66.1%

Participant deferral / active EE

$8,934-100.0%

$8,220-100.0%

$6,342-100.0%

Admin fee / account holder

$612

$14,299-95.7%

$12,048-94.9%

$12,315-95.0%

MADISON FIRE DEPARTMENT CREDIT UNION BASIC 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MADISON FIRE DEPARTMENT CREDIT UNION BASIC 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