Retirement plan

FINANCIAL SECURITY CREDIT UNION 401(K) PLAN AND TRUST

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

FINANCIAL SECURITY CREDIT UNIONEIN 85-0161080Plan #002PY 2022

1105 W PIERCE ST - CARLSBAD, NM 882204014575-887-6030finseccu.comLinkedIn1-10 employeeshuman resources

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$1.8M

-2.1% from 2021

Total participants

-5.0% from 2021

Average account balance

$101,345

+8.8% from 2021

Annual return

-6.14%

-16.00 pp from 2021

Benchmarks

See 35,220 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,220 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.58M

Not enough data

1 years with asset history on file

Average account balance

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

$75K

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.

190.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$75K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+4.17%

Not enough data

1 years with return on file

Admin fee / account holder

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

$27450

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 codes2F2G2T2J3D2E

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

$36K

$2571 / participant

Other / not subdivided$36K100.0%

% of EOY assets

1.973%

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

$101,345

$167,504-39.5%

$151,628-33.2%

$134,509-24.7%

Participation rate

92.9%

88.4%+4.5pp

87.5%+5.4pp

81.2%+11.6pp

Annual return

-6.14%

7.81%-13.9pp

3.34%-9.5pp

418.13%-424.3pp

Employer contribution / active EE

$5,260

$6,828-23.0%

$6,165-14.7%

$4,741+11.0%

Participant deferral / active EE

$2,597

$8,985-71.1%

$8,363-68.9%

$6,400-59.4%

Admin fee / account holder

$2,000

$13,779-85.5%

$11,613-82.8%

$11,427-82.5%

FINANCIAL SECURITY CREDIT UNION 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FINANCIAL SECURITY 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