Retirement plan

WACO FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Name: WACO FEDERAL CREDIT UNION - WACO FEDERAL CREDIT UNION 401(K) PLAN AND TRUST (2022) Form 5500
Creator: WACO FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WACO FEDERAL CREDIT UNION 401(K) PLAN AND TRUST, WACO FEDERAL CREDIT UNION

WACO FEDERAL CREDIT UNIONEIN 74-1160785Plan #003PY 2022

PO BOX 646 - WACO, TX 767030646254-753-0361

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$205K

-6.3% from 2021

Total participants

+28.6% from 2021

Average account balance

$22,811

-27.2% from 2021

Annual return

-11.98%

-25.67 pp from 2021

Benchmarks

See 35,209 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,209 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$312K

Not enough data

1 years with asset history on file

Average account balance

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

$28K

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.

137.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$17K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+9.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16

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 codes2F2G2T2J2E3D

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

1 tripped

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

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

$22,811

$167,522-86.4%

$151,639-85.0%

$134,532-83.0%

Participation rate

100.0%

88.4%+11.6pp

87.5%+12.5pp

81.2%+18.8pp

Annual return

-11.98%

7.81%-19.8pp

3.34%-15.3pp

418.27%-430.2pp

Employer contribution / active EE

$1,765

$6,828-74.1%

$6,165-71.4%

$4,741-62.8%

Participant deferral / active EE

$8,986-100.0%

$8,363-100.0%

$6,401-100.0%

Admin fee / account holder

$13,780-100.0%

$11,613-100.0%

$11,429-100.0%

WACO FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

WACO FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion