Retirement plan

SOUTHEASTERN CREDIT UNION PROFIT SHARING PLAN AND TRUST

Name: SOUTHEASTERN CREDIT UNION - SOUTHEASTERN CREDIT UNION PROFIT SHARING PLAN AND TRUST (2021) Form 5500
Creator: SOUTHEASTERN CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHEASTERN CREDIT UNION PROFIT SHARING PLAN AND TRUST, SOUTHEASTERN CREDIT UNION

SOUTHEASTERN CREDIT UNIONEIN 58-0801176Plan #002PY 2021

3501 N. VALDOSTA ROAD - VALDOSTA, GA 31604229-293-1223southeasterncu.comLinkedIn51-200 employeesbanking

Prospect flagsHigh feesLow assets / participantLow participant contribution

Top hat statement on fileNQDC

Filed August 21, 1996

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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How to read this page

Total assets (EOY)

$2.6M

+5.8% from 2020

Total participants

-12.4% from 2020

Average account balance

$34,804

+19.7% from 2020

Annual return

14.92%

+3.80 pp from 2020

Benchmarks

See 7,182 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,182 peers

Snapshot2021

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$4.10M

Not enough data

1 years with asset history on file

Average account balance

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

$52K

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.

106.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$549K

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

+20.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3706

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

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Service providers

Top 6 by compensation

Provider	Service type	Compensation
DOEREN MAYHEW1 year Filed as: DOEREN MAYHEW & CO., P.C Service code 10 · EIN 38-2492570	Accounting	$12,000
THE RETIREMENT ADVANTAGE INC1 year Filed as: RETIRMENT PLAN SOLUTIONS INC Service code 13	Contract Administrator	$7,885
MASSACHUSETTS MUTUAL LIFE INS. CO.3 years Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 27 · EIN 04-1590850	Advisory (Plan)	$5,433
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT-WEST LIFE ANNUITY INSURANCE Service code 64 · EIN 84-0467907	Recordkeeping Fees	$2,593
EPIC RETIREMENT PLAN SERVICES1 year Filed as: RETIREMENT PLAN SOLUTIONS INC Service code 13 · EIN 56-1762637	Contract Administrator	$1,275
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSETS GROUP,LLC Service code 28 · EIN 84-0532243	Investment Management	$2

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D2S

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.

Opportunity flags

3 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.)
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$23K

$309 / participant

Contract admin$23K100.0%

% of EOY assets

0.875%

all-in expense ratio

Categories reported

1 / 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: DOEREN MAYHEW
Auditor EIN: 382492570
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,804

$137,414-74.7%

$189,513-81.6%

$85,850-59.5%

Participation rate

97.3%

84.6%+12.7pp

87.8%+9.5pp

69.3%+28.0pp

Annual return

14.92%

38.14%-23.2pp

555.15%-540.2pp

318.53%-303.6pp

Employer contribution / active EE

$5,811

$4,344+33.7%

$6,162-5.7%

$2,565+126.5%

Participant deferral / active EE

$2,530

$6,260-59.6%

$8,221-69.2%

$3,952-36.0%

Admin fee / account holder

$305

$8,630-96.5%

$12,045-97.5%

$6,260-95.1%

Provider

Service type

Compensation

DOEREN MAYHEW1 year

Filed as: DOEREN MAYHEW & CO., P.C

Service code 10 · EIN 38-2492570

Accounting

$12,000

THE RETIREMENT ADVANTAGE INC1 year

Filed as: RETIRMENT PLAN SOLUTIONS INC

Service code 13

Contract Administrator

$7,885

MASSACHUSETTS MUTUAL LIFE INS. CO.3 years

Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE

Service code 27 · EIN 04-1590850

Advisory (Plan)

$5,433

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT-WEST LIFE ANNUITY INSURANCE

Service code 64 · EIN 84-0467907

Recordkeeping Fees

$2,593

EPIC RETIREMENT PLAN SERVICES1 year

Filed as: RETIREMENT PLAN SOLUTIONS INC

Service code 13 · EIN 56-1762637

Contract Administrator

$1,275

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSETS GROUP,LLC

Service code 28 · EIN 84-0532243

Investment Management

SOUTHEASTERN CREDIT UNION PROFIT SHARING PLAN AND TRUST

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTHEASTERN CREDIT UNION PROFIT SHARING PLAN AND TRUST

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