Retirement plan

METRO CREDIT UNION 401(K) SAFE HARBOR PLAN

Name: METRO CU FEDERAL CREDIT UNION - METRO CREDIT UNION 401(K) SAFE HARBOR PLAN (2023) Form 5500
Creator: METRO CU FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, METRO CREDIT UNION 401(K) SAFE HARBOR PLAN, METRO CU FEDERAL CREDIT UNION

METRO CU FEDERAL CREDIT UNIONEIN 47-6026142Plan #002PY 2023

14517 F STREET - SUITE 211 - OMAHA, NE 68137402-551-3052

Prospect flagsLow returnsHigh fees

Top hat statement on fileNQDC

Filed January 13, 2013 (most recent of 5 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$11.9M

+18.9% from 2022

Total participants

136

-1.4% from 2022

Average account balance

$100,161

+31.8% from 2022

Annual return

14.50%

+27.32 pp from 2022

Benchmarks

See 2,152 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,152 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.90M

Not enough data

1 years with asset history on file

Average account balance

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

$118K

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.

118

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.

87.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$710K

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

+13.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$386

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 6 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$43,938
GLOBAL RETIREMENT PARTNERS LLC2 years Filed as: GLOBAL RETIREMENTS PARTNERS LLC Service code 27 · EIN 47-1411118	Advisory (Plan)	$11,566
CONVERGENCE NETWORKS (SWAT SYSTEMS)1 year Filed as: CONVERGENCE WEALTH LLC Service code 27 12020 SHAMROCK PLAZA SUITE 100 · OMAHA, NE 68154	Advisory (Plan)	$8,846
BENEFIT PLANS ADMIN SERVICES, INC.2 years Filed as: BENEFIT PLANS INC Service code 13 · EIN 47-0617162	Contract Administrator	$6,270
SECURITIES AMERICA INC5 years Filed as: SECURITIES AMERICA ADVISORS Service code 99 · EIN 47-0648506	Other Fees	$2,720
KELLEY FINANCIAL SERVICES, INC.2 years Filed as: KELLEY FINANCIAL SERVICES INC Service code 13 17110 MARCY ST, SUITE 104 · OMAHA, NE 68118	Contract Administrator	$1,133

Plan features & details

Pension benefit codes2E2F2G2J2K2R3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

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

$41K

$387 / participant

Contract admin$41K100.0%

% of EOY assets

0.341%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LUTZ AND COMPANY, P.C.
Auditor EIN: 470625816
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$100,161

$130,294-23.1%

$170,057-41.1%

$71,529+40.0%

Participation rate

83.8%

86.2%-2.4pp

87.0%-3.2pp

67.9%+15.9pp

Annual return

14.50%

20.36%-5.9pp

53.42%-38.9pp

28.97%-14.5pp

Employer contribution / active EE

$2,741

$4,385-37.5%

$6,790-59.6%

$2,590+5.8%

Participant deferral / active EE

$3,997

$6,928-42.3%

$10,411-61.6%

$4,291-6.9%

Admin fee / account holder

$341

$966-64.7%

$12,826-97.3%

$1,588-78.5%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$43,938

GLOBAL RETIREMENT PARTNERS LLC2 years

Filed as: GLOBAL RETIREMENTS PARTNERS LLC

Service code 27 · EIN 47-1411118

Advisory (Plan)

$11,566

CONVERGENCE NETWORKS (SWAT SYSTEMS)1 year

Filed as: CONVERGENCE WEALTH LLC

Service code 27

12020 SHAMROCK PLAZA SUITE 100 · OMAHA, NE 68154

Advisory (Plan)

$8,846

BENEFIT PLANS ADMIN SERVICES, INC.2 years

Filed as: BENEFIT PLANS INC

Service code 13 · EIN 47-0617162

Contract Administrator

$6,270

SECURITIES AMERICA INC5 years

Filed as: SECURITIES AMERICA ADVISORS

Service code 99 · EIN 47-0648506

Other Fees

$2,720

KELLEY FINANCIAL SERVICES, INC.2 years

Filed as: KELLEY FINANCIAL SERVICES INC

Service code 13

17110 MARCY ST, SUITE 104 · OMAHA, NE 68118

Contract Administrator

$1,133

METRO CREDIT UNION 401(K) SAFE HARBOR PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

METRO CREDIT UNION 401(K) SAFE HARBOR PLAN

Top hat statement on fileNQDC

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