Retirement plan

WINSTON-SALEM FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Name: WINSTON-SALEM FEDERAL CREDIT UNION - WINSTON-SALEM FEDERAL CREDIT UNION 401(K) PLAN AND TRUST (2016) Form 5500
Creator: WINSTON-SALEM FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WINSTON-SALEM FEDERAL CREDIT UNION 401(K) PLAN AND TRUST, WINSTON-SALEM FEDERAL CREDIT UNION

WINSTON-SALEM FEDERAL CREDIT UNIONEIN 56-0775661Plan #001PY 2016

711 E SALEM AVE - WINSTON SALEM, NC 271015365336-727-2663mywsfcu.orgLinkedIn11-50 employeesfinancial services

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$1.2M

No prior year

Total participants

No prior year

Average account balance

$35,054

No prior year

Annual return

6.87%

No prior year

Benchmarks

See 7,671 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,671 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-98.41%

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 codes2F2G2T2J3D2E

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.
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.

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

$81K

$3016 / participant

Other / not subdivided$81K100.0%

% of EOY assets

7.039%

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

$35,054

$87,834-60.1%

$133,975-73.8%

$62,881-44.3%

Participation rate

92.6%

83.4%+9.2pp

87.1%+5.5pp

69.3%+23.3pp

Annual return

6.87%

12.05%-5.2pp

29.29%-22.4pp

20.14%-13.3pp

Employer contribution / active EE

$2,575

$3,482-26.1%

$5,211-50.6%

$2,281+12.9%

Participant deferral / active EE

$808

$4,812-83.2%

$6,282-87.1%

$3,203-74.8%

Admin fee / account holder

$2,467

$5,372-54.1%

$9,324-73.5%

$4,296-42.6%

WINSTON-SALEM FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WINSTON-SALEM FEDERAL CREDIT UNION 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