Retirement plan

FLORIDA CREDIT UNION 401(K) PROFIT SHARING PLAN AND TRUST

Name: FLORIDA CREDIT UNION - FLORIDA CREDIT UNION 401(K) PROFIT SHARING PLAN AND TRUST (2020) Form 5500
Creator: FLORIDA CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FLORIDA CREDIT UNION 401(K) PROFIT SHARING PLAN AND TRUST, FLORIDA CREDIT UNION

FLORIDA CREDIT UNIONEIN 59-0773154Plan #002PY 2020

1615 NORTH WEST 80TH BLV. - GAINESVILLE, FL 32606352-377-4141flcu.orgLinkedIn201-500 employeesfinancial services

Prospect flagsNo flags tripped

Top hat statement on fileNQDC

Filed February 22, 2001

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)

$25M

+27.7% from 2019

Total participants

346

+3.3% from 2019

Average account balance

$73,234

+23.2% from 2019

Annual return

19.92%

-1.54 pp from 2019

Benchmarks

See 1,455 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,455 peers

Snapshot2020

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Analytics

Total assets (EOY)

Plan-year ending balance

$43.48M

Not enough data

1 years with asset history on file

Average account balance

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

$109K

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.

398

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.

93.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.67M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+18.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$88

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 9 by compensation

Provider	Service type	Compensation
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 49 · EIN 04-1590850	Other Services	$11,948
ENVESTNET RETIREMENT SOLUTIONS, LLC4 years Service code 26 · EIN 61-1732930	Advisory (Participants)	$615
AMERICAN FUNDS4 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
COLUMBIA4 years Service code 52 · EIN 94-1687665	Indirect Investment Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL4 years Filed as: FIDELITY INVESTMENTS Service code 52 · EIN 04-6056833	Indirect Investment Fees	$0
INVESCO4 years Service code 52 · EIN 13-5657518	Indirect Investment Fees	$0
NEXTCAPITAL GROUP, INC.1 year Filed as: NEXTCAPITAL ADVISORS, INC Service code 52 · EIN 47-2342699	Indirect Investment Fees	$0
T ROWE PRICE RPS INC4 years Filed as: T. ROWE PRICE Service code 52 · EIN 52-0791372	Indirect Investment Fees	$0
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO Service code 52 · EIN 41-0449260	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D2S2T

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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$12K

$42 / participant

Contract admin$8K71.0%
Other / not subdivided$3K29.0%

% of EOY assets

0.048%

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: JAMES MOORE CERTIFIED PUBLIC ACCOUN
Auditor EIN: 593204548
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$73,234

$111,608-34.4%

$177,821-58.8%

$73,409-0.2%

Participation rate

98.6%

87.9%+10.7pp

87.7%+10.9pp

72.2%+26.4pp

Annual return

19.92%

18.23%+1.7pp

48.32%-28.4pp

59.29%-39.4pp

Employer contribution / active EE

$4,938

$3,796+30.1%

$5,918-16.6%

$2,234+121.1%

Participant deferral / active EE

$3,762

$6,199-39.3%

$7,714-51.2%

$3,805-1.1%

Admin fee / account holder

$35

$166-78.9%

$12,427-99.7%

$158-77.9%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 49 · EIN 04-1590850

Other Services

$11,948

ENVESTNET RETIREMENT SOLUTIONS, LLC4 years

Service code 26 · EIN 61-1732930

Advisory (Participants)

$615

AMERICAN FUNDS4 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

COLUMBIA4 years

Service code 52 · EIN 94-1687665

Indirect Investment Fees

FIDELITY INVESTMENTS INSTITUTIONAL4 years

Filed as: FIDELITY INVESTMENTS

Service code 52 · EIN 04-6056833

Indirect Investment Fees

INVESCO4 years

Service code 52 · EIN 13-5657518

Indirect Investment Fees

NEXTCAPITAL GROUP, INC.1 year

Filed as: NEXTCAPITAL ADVISORS, INC

Service code 52 · EIN 47-2342699

Indirect Investment Fees

T ROWE PRICE RPS INC4 years

Filed as: T. ROWE PRICE

Service code 52 · EIN 52-0791372

Indirect Investment Fees

WELLS FARGO BANK, N.A.3 years

Filed as: WELLS FARGO

Service code 52 · EIN 41-0449260

Indirect Investment Fees

FLORIDA CREDIT UNION 401(K) 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

FLORIDA CREDIT UNION 401(K) 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