Retirement plan

EMPLOYEE BENEFIT PLAN OF SELF-HELP FEDERAL CREDIT UNION

Name: SELF HELP FEDERAL CREDIT UNION - EMPLOYEE BENEFIT PLAN OF SELF-HELP FEDERAL CREDIT UNION (2019) Form 5500
Creator: SELF HELP FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EMPLOYEE BENEFIT PLAN OF SELF-HELP FEDERAL CREDIT UNION, SELF HELP FEDERAL CREDIT UNION

SELF HELP FEDERAL CREDIT UNIONEIN 56-1849615Plan #002PY 2019

301 W MAIN STREET, DURHAM, - DURHAM, NC 277013227919-956-4400

Other plans on this EIN

1 filing

#001Retirement-$60.5M assets

Prospect flagsLow participant contributionRecently reached 100 employeesCorrective distributions

How to read this page

Total assets (EOY)

$19.9M

+111191.7% from 2018

Total participants

478

+47700.0% from 2018

Average account balance

$41,709

+132.8% from 2018

Annual return

32.10%

+35.56 pp from 2018

Benchmarks

See 1,467 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,467 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$52.28M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

861

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.

98.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.75M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$42

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

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND1 year Service code 13 · EIN 06-1050034	Contract Administrator	$4,450

Plan features & details

Pension benefit codes2F2S2T3D2E2J2K2R

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).
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.
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.

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$6K

$16 / participant

Other / not subdivided$6K100.0%

% of EOY assets

0.032%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: DIXON HUGHES GOODMAN LLP
Auditor EIN: 560747981
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$41,709

$88,515-52.9%

$162,177-74.3%

$67,579-38.3%

Participation rate

100.0%

86.8%+13.2pp

87.6%+12.4pp

71.3%+28.7pp

Annual return

32.10%

27.04%+5.1pp

115.60%-83.5pp

378.56%-346.5pp

Employer contribution / active EE

$2,979

$3,563-16.4%

$5,613-46.9%

$2,148+38.7%

Participant deferral / active EE

$2,792

$5,724-51.2%

$7,297-61.7%

$3,539-21.1%

Admin fee / account holder

$13

$124-89.2%

$10,843-99.9%

$142-90.6%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND1 year

Service code 13 · EIN 06-1050034

Contract Administrator

$4,450

EMPLOYEE BENEFIT PLAN OF SELF-HELP FEDERAL CREDIT UNION

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EMPLOYEE BENEFIT PLAN OF SELF-HELP FEDERAL CREDIT UNION

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