Retirement plan

GARDEN ISLAND FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Name: GARDEN ISLAND FEDERAL CREDIT UNION - GARDEN ISLAND FEDERAL CREDIT UNION 401(K) PLAN AND TRUST (2024) Form 5500
Creator: GARDEN ISLAND FEDERAL CREDIT UNION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GARDEN ISLAND FEDERAL CREDIT UNION 401(K) PLAN AND TRUST, GARDEN ISLAND FEDERAL CREDIT UNION

GARDEN ISLAND FEDERAL CREDIT UNIONEIN 99-0088224Plan #002PY 2024

PO BOX 1165 - LIHUE, HI 967665165808-245-2712gardenislandfcu.comLinkedIn11-50 employeesfinancial services

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$2.4M

+4.8% from 2023

Total participants

-10.0% from 2023

Average account balance

$133,916

+4.8% from 2023

Annual return

11.42%

+5.29 pp from 2023

Benchmarks

See 37,167 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort37,167 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.41M

Not enough data

1 years with asset history on file

Average account balance

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

$134K

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.

163.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$135K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+11.42%

Not enough data

1 years with return on file

Admin fee / account holder

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

$16045

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 codes2F2G2T2J3D2E

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.
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

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.)

Expense breakdown

Schedule H Part II

Admin total

$289K

$26255 / participant

Other / not subdivided$289K100.0%

% of EOY assets

11.981%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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

$133,916

$201,264-33.5%

$184,185-27.3%

$145,978-8.3%

Participation rate

100.0%

87.5%+12.5pp

86.8%+13.2pp

80.3%+19.7pp

Annual return

11.42%

29.00%-17.6pp

28.81%-17.4pp

550.52%-539.1pp

Employer contribution / active EE

$10,615

$7,021+51.2%

$6,426+65.2%

$4,662+127.7%

Participant deferral / active EE

$1,694

$9,806-82.7%

$9,132-81.4%

$6,690-74.7%

Admin fee / account holder

$16,045

$16,376-2.0%

$13,909+15.4%

$13,400+19.7%

GARDEN ISLAND FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GARDEN ISLAND FEDERAL CREDIT UNION 401(K) PLAN AND TRUST

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