Retirement plan

UTAH COMMUNITY FEDERAL CREDIT UNION RETIREMENT PLAN

Name: UTAH COMMUNITY CREDIT UNION - UTAH COMMUNITY FEDERAL CREDIT UNION RETIREMENT PLAN (2024) Form 5500
Creator: UTAH COMMUNITY CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UTAH COMMUNITY FEDERAL CREDIT UNION RETIREMENT PLAN, UTAH COMMUNITY CREDIT UNION

UTAH COMMUNITY CREDIT UNIONEIN 87-0231088Plan #003PY 2024

360 W 4800 N - PROVO, UT 84604801-223-8188uccu.comLinkedIn501-1000 employeesbanking

Prospect flagsLow participant contribution

Top hat statement on fileNQDC

Filed August 9, 2024 (most recent of 7 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

188 West River Park Drive

Provo, UT 84604

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Plans declared (8)

UCCU Eligible 457(b) Plan #1 (fbo Jeffrey C. Meyers)1 emp
UCCU Eligible 457(b) Plan #2 (fbo Ratna R. Lingam)1 emp
UCCU Eligible 457(b) Plan #3 (fbo Bret Van Ausdal)1 emp
UCCU Eligible 457(b) Plan #5 (fbo Paul Jarvis)1 emp
UCCU Eligible 457(b) Plan #6 (fbo Kenneth G. Gibby)1 emp
+3 more

Total covered: 8 employees

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Total assets (EOY)

$38.8M

+13.2% from 2023

Total participants

725

+11.9% from 2023

Average account balance

$61,452

+10.7% from 2023

Annual return

13.25%

-3.79 pp from 2023

Benchmarks

See 1,547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,547 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$38.78M

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

631

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.

83.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.51M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.25%

Not enough data

1 years with return on file

Admin fee / account holder

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

$190

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 2 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL4 years Service code 64 · EIN 04-2647786	Recordkeeping Fees	$68,861
ONEDIGITAL INVESTMENT ADVISORS LLC1 year Service code 27 · EIN 43-1451524	Advisory (Plan)	$51,000

Plan features & details

Pension benefit codes3H2E2F2G2J2K2T2C3D

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

1 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$120K

$212 / participant

Recordkeeping$69K57.5%
Investment mgmt$51K42.5%

% of EOY assets

0.309%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SQUIRE & CO., PC
Auditor EIN: 870343246
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,452

$129,227-52.4%

$184,260-66.6%

$77,736-20.9%

Participation rate

83.4%

87.4%-4.0pp

86.8%-3.5pp

70.6%+12.8pp

Annual return

13.25%

33.24%-20.0pp

28.84%-15.6pp

31.26%-18.0pp

Employer contribution / active EE

$4,047

$4,412-8.3%

$6,427-37.0%

$2,728+48.4%

Participant deferral / active EE

$2,157

$7,307-70.5%

$9,133-76.4%

$4,651-53.6%

Admin fee / account holder

$190

$256-25.7%

$13,898-98.6%

$433-56.2%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL4 years

Service code 64 · EIN 04-2647786

Recordkeeping Fees

$68,861

ONEDIGITAL INVESTMENT ADVISORS LLC1 year

Service code 27 · EIN 43-1451524

Advisory (Plan)

$51,000

UTAH COMMUNITY FEDERAL CREDIT UNION RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (8)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UTAH COMMUNITY FEDERAL CREDIT UNION RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (8)

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