Retirement plan

AREA COMMUNITY CREDIT UNION BASIC PLUS 401(K) PLAN AND TRUST

Name: AREA COMMUNITY CREDIT UNION - AREA COMMUNITY CREDIT UNION BASIC PLUS 401(K) PLAN AND TRUST (2017) Form 5500
Creator: AREA COMMUNITY CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AREA COMMUNITY CREDIT UNION BASIC PLUS 401(K) PLAN AND TRUST, AREA COMMUNITY CREDIT UNION

AREA COMMUNITY CREDIT UNIONEIN 45-0279071Plan #001PY 2017

2800 S WASHINGTON ST - GRAND FORKS, ND 582016748701-772-2690gfaccu.comLinkedIn11-50 employeesbanking

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$273K

-20.9% from 2016

Total participants

-40.0% from 2016

Average account balance

$45,532

+18.7% from 2016

Annual return

11.16%

+4.93 pp from 2016

Benchmarks

See 30,802 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort30,802 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$389K

Not enough data

1 years with asset history on file

Average account balance

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

$43K

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.

128.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$46K

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

+8.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1835

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

2 tripped

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

$132K

$32899 / participant

Other / not subdivided$132K100.0%

% of EOY assets

48.170%

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

$45,532

$171,867-73.5%

$149,716-69.6%

$147,585-69.1%

Participation rate

100.0%

88.2%+11.8pp

87.1%+12.9pp

82.8%+17.2pp

Annual return

11.16%

2113.36%-2102.2pp

1501.67%-1490.5pp

578.58%-567.4pp

Employer contribution / active EE

$3,935

$6,275-37.3%

$5,444-27.7%

$4,876-19.3%

Participant deferral / active EE

$1,244

$7,270-82.9%

$6,568-81.1%

$5,439-77.1%

Admin fee / account holder

$21,932

$13,799+58.9%

$11,282+94.4%

$10,886+101.5%

AREA COMMUNITY CREDIT UNION BASIC PLUS 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AREA COMMUNITY CREDIT UNION BASIC PLUS 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