Retirement plan

METRO MEDICAL CREDIT UNION 401K

Name: METRO MEDICAL CREDIT UNION - METRO MEDICAL CREDIT UNION 401K (2023) Form 5500
Creator: METRO MEDICAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, METRO MEDICAL CREDIT UNION 401K, METRO MEDICAL CREDIT UNION

METRO MEDICAL CREDIT UNIONEIN 75-1249646Plan #002PY 2023

8200 BROOKRIVER DRIVE, SUITE N 110 - DALLAS, TX 75247214-630-0611mmcu.comLinkedIn11-50 employeesfinancial services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$1.2M

+8.5% from 2022

Total participants

-6.7% from 2022

Average account balance

$96,122

+25.2% from 2022

Annual return

18.89%

+35.37 pp from 2022

Benchmarks

See 36,165 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,165 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.37M

Not enough data

1 years with asset history on file

Average account balance

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

$98K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$101K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+15.47%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12385

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 codes2F2G2J2T2E3D

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

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

$214K

$17874 / participant

Other / not subdivided$214K100.0%

% of EOY assets

17.165%

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

$96,122

$185,883-48.3%

$170,043-43.5%

$139,466-31.1%

Participation rate

91.7%

87.8%+3.9pp

87.0%+4.7pp

80.3%+11.3pp

Annual return

18.89%

60.54%-41.7pp

53.40%-34.5pp

373.66%-354.8pp

Employer contribution / active EE

$3,431

$7,596-54.8%

$6,790-49.5%

$4,754-27.8%

Participant deferral / active EE

$4,455

$11,626-61.7%

$10,410-57.2%

$6,712-33.6%

Admin fee / account holder

$16,499

$15,393+7.2%

$12,824+28.7%

$11,409+44.6%

METRO MEDICAL CREDIT UNION 401K

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

METRO MEDICAL CREDIT UNION 401K

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