Retirement plan

KERN SCHOOLS FEDERAL CREDIT UNION PLAN AND TRUST

Name: KERN SCHOOLS FEDERAL CREDIT UNION - KERN SCHOOLS FEDERAL CREDIT UNION PLAN AND TRUST (2017) Form 5500
Creator: KERN SCHOOLS FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, KERN SCHOOLS FEDERAL CREDIT UNION PLAN AND TRUST, KERN SCHOOLS FEDERAL CREDIT UNION

KERN SCHOOLS FEDERAL CREDIT UNIONEIN 95-1652797Plan #002PY 2017

11500 BOLTHOUSE DR - BAKERSFIELD, CA 933118822661-833-7900valleystrong.comLinkedIn201-500 employeesfinancial services

Other plans on this EIN

1 filing

#001Retirement-$26.2M assets

Prospect flagsNo flags tripped

Top hat statement on fileNQDC

Filed January 4, 2021 (most recent of 11 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

11500 Bolthouse Drive

Bakersfield, CA 93311

Email— Sign in and upgrade to view Phone— Sign in and upgrade to view

Plans declared (1)

Plan name not on file26 emp

Open the filing PDF

How to read this page

Total assets (EOY)

$14.1M

+11.8% from 2016

Total participants

396

-1.2% from 2016

Average account balance

$36,274

+13.5% from 2016

Annual return

15.15%

+1.17 pp from 2016

Benchmarks

See 1,453 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,453 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$44.74M

Not enough data

1 years with asset history on file

Average account balance

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

$63K

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.

706

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.

96.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.55M

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

+13.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$24

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

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

Service providers

Top 1 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290	Contract Administrator	$58,259

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$58K

$174 / participant

Contract admin$58K100.0%

% of EOY assets

0.413%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: BROWN ARMSTRONG
Auditor EIN: 953109182
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,274

$81,537-55.5%

$149,721-75.8%

$69,631-47.9%

Participation rate

97.9%

86.1%+11.8pp

87.1%+10.8pp

70.7%+27.2pp

Annual return

15.15%

22.79%-7.6pp

1501.67%-1486.5pp

27571.02%-27555.9pp

Employer contribution / active EE

$2,086

$3,239-35.6%

$5,444-61.7%

$2,032+2.7%

Participant deferral / active EE

$3,398

$4,994-32.0%

$6,568-48.3%

$3,224+5.4%

Admin fee / account holder

$150

$107+40.1%

$11,282-98.7%

$110+35.6%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$58,259

KERN SCHOOLS FEDERAL CREDIT UNION PLAN AND TRUST

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

KERN SCHOOLS FEDERAL CREDIT UNION PLAN AND TRUST

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