Retirement plan

TEXAS TECH FEDERAL CREDIT UNION 401(K) PLAN

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

TEXAS TECH FEDERAL CREDIT UNIONEIN 75-1157852Plan #001PY 2024

BOX 41072, 1802 TEXAS TECH PARKWAY - LUBBOCK, TX 79409806-742-3606texastechfcu.orgLinkedIn51-200 employeesfinancial services

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$6.1M

+14.1% from 2023

Total participants

135

-3.6% from 2023

Average account balance

$46,305

+18.5% from 2023

Annual return

15.09%

-2.74 pp from 2023

Benchmarks

See 2,174 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,174 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.07M

Not enough data

1 years with asset history on file

Average account balance

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

$46K

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.

131

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.

96.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.06M

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

+15.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$263

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 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3 years Service code 13 · EIN 42-0127290	Contract Administrator	$34,506
SWBC INVESTMENT ADVISORY SERVICES3 years Filed as: SWBC INVESTMENT SERVICES LLC Service code 49 · EIN 20-1484586	Other Services	$1,451
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D

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.
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

1 tripped

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

$35K

$305 / participant

Contract admin$35K100.0%

% of EOY assets

0.569%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BOLINGER, SEGARS, GILBERT & MOSS LL
Auditor EIN: 750882037
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$46,305

$122,042-62.1%

$184,260-74.9%

$74,459-37.8%

Participation rate

96.5%

85.5%+11.0pp

86.8%+9.6pp

67.2%+29.2pp

Annual return

15.09%

19.91%-4.8pp

28.84%-13.7pp

1369.70%-1354.6pp

Employer contribution / active EE

$4,287

$4,537-5.5%

$6,427-33.3%

$2,626+63.3%

Participant deferral / active EE

$5,069

$7,143-29.0%

$9,133-44.5%

$4,350+16.5%

Admin fee / account holder

$263

$1,252-79.0%

$13,898-98.1%

$1,945-86.5%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3 years

Service code 13 · EIN 42-0127290

Contract Administrator

$34,506

SWBC INVESTMENT ADVISORY SERVICES3 years

Filed as: SWBC INVESTMENT SERVICES LLC

Service code 49 · EIN 20-1484586

Other Services

$1,451

MORNINGSTAR2 years

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L

Service code 26 · EIN 36-4317381

Advisory (Participants)

TEXAS TECH FEDERAL CREDIT UNION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TEXAS TECH FEDERAL CREDIT UNION 401(K) PLAN

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