Retirement plan

AMERICAN EAGLE FINANCIAL CREDIT UNION INCORPORATED EMPLOYEE SAVINGS PLAN

Name: AMERICAN EAGLE FINANCIAL CREDIT UNION INCORPORATED - AMERICAN EAGLE FINANCIAL CREDIT UNION INCORPORATED EMPLOYEE SAVINGS PLAN (2023) Form 5500
Creator: AMERICAN EAGLE FINANCIAL CREDIT UNION INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AMERICAN EAGLE FINANCIAL CREDIT UNION INCORPORATED EMPLOYEE SAVINGS PLAN, AMERICAN EAGLE FINANCIAL CREDIT UNION INCORPORATED

AMERICAN EAGLE FINANCIAL CREDIT UNION INCORPORATEDEIN 47-2559616Plan #003PY 2023

333 EAST RIVER DRIVE - EAST HARTFORD, CT 06108860-569-5550americaneagle.orgLinkedIn201-500 employeesbanking

Prospect flagsLow returnsHigh fees

Top hat statement on fileNQDC

Filed September 12, 2017

Plan administrator

Plan administrator name— Sign in and upgrade to view

417 Main St

East Hartford State: CT Zip Code: 06118

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Plans declared (1)

Retention Payment Plan1 emp

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Total assets (EOY)

$63.4M

+13.8% from 2022

Total participants

473

+6.3% from 2022

Average account balance

$138,045

+9.3% from 2022

Annual return

13.99%

+24.72 pp from 2022

Benchmarks

See 1,522 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,522 peers

Snapshot2023

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Analytics

Total assets (EOY)

Plan-year ending balance

$76.22M

Not enough data

1 years with asset history on file

Average account balance

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

$159K

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.

479

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.

98.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.81M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+13.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$306

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

1 years with F_SCH_H allocation on file

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$105,270
MERCER2 years Filed as: MERCER (US) INC MERCER INVESTMENTS Service code 27 21875 NETWORK PLACE · CHICAGO, IL 60673	Advisory (Plan)	$35,292

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 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.

Expense breakdown

Schedule H Part II

Admin total

$141K

$403 / participant

Recordkeeping$105K74.9%
Investment mgmt$35K25.1%

% of EOY assets

0.222%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: COHNREZNICK, LLP
Auditor EIN: 221478099
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$138,045

$100,227+37.7%

$169,993-18.8%

$74,419+85.5%

Participation rate

96.0%

87.3%+8.7pp

87.0%+9.0pp

70.7%+25.3pp

Annual return

13.99%

66.08%-52.1pp

53.37%-39.4pp

34.38%-20.4pp

Employer contribution / active EE

$6,393

$4,263+50.0%

$6,785-5.8%

$2,637+142.4%

Participant deferral / active EE

$5,440

$7,143-23.8%

$10,408-47.7%

$4,528+20.1%

Admin fee / account holder

$306

$234+30.6%

$12,815-97.6%

$348-12.0%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$105,270

MERCER2 years

Filed as: MERCER (US) INC MERCER INVESTMENTS

Service code 27

21875 NETWORK PLACE · CHICAGO, IL 60673

Advisory (Plan)

$35,292

AMERICAN EAGLE FINANCIAL CREDIT UNION INCORPORATED EMPLOYEE SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AMERICAN EAGLE FINANCIAL CREDIT UNION INCORPORATED EMPLOYEE SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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