Retirement plan

MY PENSACOLA FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Name: MY PENSACOLA FEDERAL CREDIT UNION - MY PENSACOLA FEDERAL CREDIT UNION 401(K) PLAN AND TRUST (2024) Form 5500
Creator: MY PENSACOLA FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MY PENSACOLA FEDERAL CREDIT UNION 401(K) PLAN AND TRUST, MY PENSACOLA FEDERAL CREDIT UNION

MY PENSACOLA FEDERAL CREDIT UNIONEIN 59-0739066Plan #002PY 2024

108 SOUTH REUS STREET - PENSACOLA, FL 325025718850-432-9939

Other plans on this EIN

1 filing

#001Retirement-$5.8M assets

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$1.8M

+4.6% from 2023

Total participants

+10.5% from 2023

Average account balance

$95,372

-1.0% from 2023

Annual return

9.79%

-3.32 pp from 2023

Benchmarks

See 37,126 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,126 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.61M

Not enough data

1 years with asset history on file

Average account balance

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

$70K

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.

121.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$74K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+9.25%

Not enough data

1 years with return on file

Admin fee / account holder

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

$19512

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 codes2E2F2G2J2T3D

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

$159K

$10592 / participant

Other / not subdivided$159K100.0%

% of EOY assets

8.768%

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

$95,372

$201,344-52.6%

$184,243-48.2%

$145,877-34.6%

Participation rate

86.7%

87.5%-0.8pp

86.8%-0.2pp

80.3%+6.4pp

Annual return

9.79%

29.01%-19.2pp

28.82%-19.0pp

551.28%-541.5pp

Employer contribution / active EE

$1,667

$7,022-76.3%

$6,427-74.1%

$4,663-64.3%

Participant deferral / active EE

$2,478

$9,807-74.7%

$9,132-72.9%

$6,691-63.0%

Admin fee / account holder

$8,362

$16,382-49.0%

$13,914-39.9%

$13,402-37.6%

MY PENSACOLA FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MY PENSACOLA 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