Retirement plan

FARGO VA FEDERAL CREDIT UNION BASIC 401(K) PLAN AND TRUST

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

FARGO VA FEDERAL CREDIT UNIONEIN 45-0226672Plan #001PY 2024

2101 ELM ST N - FARGO, ND 581022417701-280-0870

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$344K

+24.5% from 2023

Total participants

0.0% from 2023

Average account balance

$171,817

+24.5% from 2023

Annual return

18.43%

-1.60 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

$344K

Not enough data

1 years with asset history on file

Average account balance

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

$172K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$17K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+18.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

0 tripped

No flags tripped for this filing year. This plan looks clean.

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

$171,817

$201,370-14.7%

$184,256-6.8%

$145,897+17.8%

Participation rate

100.0%

87.5%+12.5pp

86.8%+13.2pp

80.3%+19.7pp

Annual return

18.43%

29.05%-10.6pp

28.85%-10.4pp

552.29%-533.9pp

Employer contribution / active EE

$4,134

$7,024-41.1%

$6,427-35.7%

$4,663-11.3%

Participant deferral / active EE

$4,238

$9,808-56.8%

$9,133-53.6%

$6,689-36.7%

Admin fee / account holder

$16,364-100.0%

$13,899-100.0%

$13,390-100.0%

FARGO VA FEDERAL CREDIT UNION BASIC 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

FARGO VA FEDERAL CREDIT UNION BASIC 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion