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 (2020) 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 2020

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

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$262K

+18.5% from 2019

Total participants

0.0% from 2019

Average account balance

$65,488

+18.5% from 2019

Annual return

13.46%

-14.51 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

$411K

Not enough data

1 years with asset history on file

Average account balance

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

$137K

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

$21K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$58

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

1 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

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

$65,488

$197,625-66.9%

$177,840-63.2%

$158,966-58.8%

Participation rate

100.0%

88.5%+11.5pp

87.7%+12.3pp

82.0%+18.0pp

Annual return

13.46%

58.76%-45.3pp

48.32%-34.9pp

302.95%-289.5pp

Employer contribution / active EE

$2,486

$6,698-62.9%

$5,919-58.0%

$4,762-47.8%

Participant deferral / active EE

$1,197

$8,405-85.8%

$7,714-84.5%

$5,983-80.0%

Admin fee / account holder

$15,405-100.0%

$12,431-100.0%

$11,250-100.0%

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