Retirement plan

CABRILLO CREDIT UNION 401(K) PROFIT SHARING PLAN

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

CABRILLO CREDIT UNIONEIN 95-1968774Plan #001PY 2023

PO BOX 261169 - SAN DIEGO, CA 921961169858-547-7400cabrillocu.comLinkedIn51-200 employeesbanking

Prospect flagsHigh feesFailed to transmit contributions

Top hat statement on fileNQDC

Filed May 14, 2019 (most recent of 4 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

10075 Carroll Canyon Rd, Ste. 200

San Diego State: CA Zip Code: 92131

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Plans declared (1)

457(f)1 emp

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Total assets (EOY)

$7M

+18.9% from 2022

Total participants

122

-1.6% from 2022

Average account balance

$57,411

+19.9% from 2022

Annual return

17.09%

+31.72 pp from 2022

Benchmarks

See 7,176 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,176 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.10M

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.

110

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

$644K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+12.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$403

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
CMFG LIFE INSURANCE COMPANY3 years Service code 15 · EIN 39-0230590	Recordkeeping	$31,330
CMFG LIFE INSURANCE COMPANY3 years Filed as: MEMBERS CAPITAL ADVISORS, INC. Service code 27 · EIN 42-0388260	Advisory (Plan)	$5,837

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$37K

$539 / participant

Recordkeeping$4K11.0%
Investment mgmt$6K15.7%
Contract admin$27K73.3%

% of EOY assets

0.531%

all-in expense ratio

Categories reported

3 / 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: TURNER, WARREN, HWANG & CONRAD AC
Auditor EIN: 951968774
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$57,411

$125,797-54.4%

$170,057-66.2%

$75,177-23.6%

Participation rate

100.0%

83.6%+16.4pp

87.0%+13.0pp

67.2%+32.8pp

Annual return

17.09%

27.20%-10.1pp

53.42%-36.3pp

160.75%-143.7pp

Employer contribution / active EE

$3,528

$4,616-23.6%

$6,790-48.0%

$2,671+32.1%

Participant deferral / active EE

$5,202

$6,838-23.9%

$10,411-50.0%

$4,126+26.1%

Admin fee / account holder

$305

$8,177-96.3%

$12,826-97.6%

$5,651-94.6%

Provider

Service type

Compensation

CMFG LIFE INSURANCE COMPANY3 years

Service code 15 · EIN 39-0230590

Recordkeeping

$31,330

CMFG LIFE INSURANCE COMPANY3 years

Filed as: MEMBERS CAPITAL ADVISORS, INC.

Service code 27 · EIN 42-0388260

Advisory (Plan)

$5,837

CABRILLO CREDIT UNION 401(K) PROFIT SHARING PLAN

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

CABRILLO CREDIT UNION 401(K) PROFIT SHARING PLAN

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