Retirement plan

ARIZONA FEDERAL CREDIT UNION CAPITAL ACCUMULATION

Name: ARIZONA FEDERAL CREDIT UNION - ARIZONA FEDERAL CREDIT UNION CAPITAL ACCUMULATION (2021) Form 5500
Creator: ARIZONA FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, ARIZONA FEDERAL CREDIT UNION CAPITAL ACCUMULATION, ARIZONA FEDERAL CREDIT UNION

ARIZONA FEDERAL CREDIT UNIONEIN 86-0101004Plan #033PY 2021

333 N 44TH ST - PHOENIX, AZ 85008602-683-1000arizonafinancial.orgLinkedIn501-1000 employeesbanking

Prospect flagsLow returnsHigh feesLow participant contributionCorrective distributions

Top hat statement on fileNQDC

Filed November 10, 2014 (most recent of 4 filings on file)

Plan administrator

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333 North 44th Street

Phoenix State: AZ Zip Code: 85008

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Plans declared (1)

Arizona Federal Credit Union Supplemental Executive Retirement Plan13 emp

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Total assets (EOY)

$55.4M

+13.9% from 2020

Total participants

694

+1.0% from 2020

Average account balance

$80,547

+12.8% from 2020

Annual return

13.74%

-1.81 pp from 2020

Benchmarks

See 1,509 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,509 peers

Snapshot2021

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Analytics

Total assets (EOY)

Plan-year ending balance

$66.75M

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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.

907

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.

98.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.14M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+13.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$162

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
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT WEST LIFE & ANNUITY INSURANCE Service code 49 · EIN 84-0467907	Other Services	$212,607
PENSIONMARK FINANCIAL GROUP LLC4 years Filed as: PENSIONMARK FINANCIAL GROUP, LLC Service code 27 · EIN 61-1758632	Advisory (Plan)	$76,414
AB FUNDS5 years Service code 52 · EIN 13-4071393	Indirect Investment Fees	$0
AMERICAN FUNDS5 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
BLACKROCK5 years Service code 52 · EIN 51-0318674	Indirect Investment Fees	$0
DIMENSIONAL FUND ADVISORS4 years Service code 52 · EIN 36-3129984	Indirect Investment Fees	$0
ENVESTNET RETIREMENT SOLUTIONS, LLC6 years Service code 27 · EIN 61-1732930	Advisory (Plan)	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.7+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$0
THE VANGUARD GROUP, INC.5 years Filed as: VANGUARD Service code 52 · EIN 23-1999755	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2T3D3H2A

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

4 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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$289K

$514 / participant

Investment mgmt$269K93.2%
Contract admin$18K6.4%
Other / not subdivided$1K0.4%

% of EOY assets

0.522%

all-in expense ratio

Categories reported

2 / 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: MOSS ADAMS
Auditor EIN: 910189318
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$80,547

$111,491-27.8%

$189,513-57.5%

$86,799-7.2%

Participation rate

98.9%

87.3%+11.6pp

87.8%+11.1pp

72.3%+26.7pp

Annual return

13.74%

83.50%-69.8pp

555.15%-541.4pp

97.91%-84.2pp

Employer contribution / active EE

$4,988

$3,951+26.2%

$6,162-19.0%

$2,405+107.4%

Participant deferral / active EE

$3,496

$6,437-45.7%

$8,221-57.5%

$4,131-15.4%

Admin fee / account holder

$420

$189+122.6%

$12,045-96.5%

$170+147.8%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT WEST LIFE & ANNUITY INSURANCE

Service code 49 · EIN 84-0467907

Other Services

$212,607

PENSIONMARK FINANCIAL GROUP LLC4 years

Filed as: PENSIONMARK FINANCIAL GROUP, LLC

Service code 27 · EIN 61-1758632

Advisory (Plan)

$76,414

AB FUNDS5 years

Service code 52 · EIN 13-4071393

Indirect Investment Fees

AMERICAN FUNDS5 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

BLACKROCK5 years

Service code 52 · EIN 51-0318674

Indirect Investment Fees

DIMENSIONAL FUND ADVISORS4 years

Service code 52 · EIN 36-3129984

Indirect Investment Fees

ENVESTNET RETIREMENT SOLUTIONS, LLC6 years

Service code 27 · EIN 61-1732930

Advisory (Plan)

MASSACHUSETTS MUTUAL LIFE INS. CO.7+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

THE VANGUARD GROUP, INC.5 years

Filed as: VANGUARD

Service code 52 · EIN 23-1999755

Indirect Investment Fees

ARIZONA FEDERAL CREDIT UNION CAPITAL ACCUMULATION

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ARIZONA FEDERAL CREDIT UNION CAPITAL ACCUMULATION

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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