Alliant Credit Union 401(k) Review & Grade
Alliant Credit Union 401(k) Plan
Chicago, ILFinance & Insurance868 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,731Employer $ per active participant
$9,911Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$137.2MNet plan assets, end of year
$114,658Average balance per account
Score breakdown
- Employer generosity36.9 / 5074th percentile for employer $ per participant
- Low cost22.1 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 74th |
| Lower admin cost | 88th |
| Employee saving | 75th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $985 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Alliant Credit Union put in about $5,731 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $4,971,511 |
| Participant (employee) contributions | $8,598,033 |
| Other contributions (incl. rollovers in) | $2,258,715 |
| Administrative expenses paid from the plan | $58,815 |
| Investment advisory & management fees | $44,039 |
| Benefits paid out | $12,439,741 |
| Net assets, start / end of year | $114.2M / $137.2M |
| Active participants, start / end of year | 862 / 873 |
| Participants with account balances | 1,197 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Plante and Moran PLLC |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $44,039 reported compensation |
| Fidelity Investments Institutional | $15,007 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014122307NAL0001371011001, received 2025-10-14, EIN 36-6066772, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.