Retirement plan

EXPRESS CREDIT UNION BASIC 401(K) PLAN AND TRUST

Name: EXPRESS CREDIT UNION - EXPRESS CREDIT UNION BASIC 401(K) PLAN AND TRUST (2023) Form 5500
Creator: EXPRESS CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EXPRESS CREDIT UNION BASIC 401(K) PLAN AND TRUST, EXPRESS CREDIT UNION

EXPRESS CREDIT UNIONEIN 91-0573334Plan #001PY 2023

PO BOX 94286 - SEATTLE, WA 981246586206-622-1850expresscu.orgLinkedIn11-50 employeesbanking

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$331K

+31.8% from 2022

Total participants

+40.0% from 2022

Average account balance

$55,090

+31.8% from 2022

Annual return

14.77%

+32.22 pp from 2022

Benchmarks

See 36,154 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort36,154 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$413K

Not enough data

1 years with asset history on file

Average account balance

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

$59K

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.

63.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$54K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+8.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14

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 codes2F2G2E2J3D

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.
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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

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

$55,090

$185,905-70.4%

$170,057-67.6%

$139,487-60.5%

Participation rate

42.9%

87.8%-44.9pp

87.0%-44.1pp

80.3%-37.5pp

Annual return

14.77%

60.56%-45.8pp

53.42%-38.6pp

373.84%-359.1pp

Employer contribution / active EE

$7,597-100.0%

$6,790-100.0%

$4,755-100.0%

Participant deferral / active EE

$3,048

$11,627-73.8%

$10,411-70.7%

$6,713-54.6%

Admin fee / account holder

$15,397-100.0%

$12,826-100.0%

$11,407-100.0%

EXPRESS CREDIT UNION BASIC 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

EXPRESS CREDIT UNION BASIC 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion