Gte Federal Credit Union 401(k) Review & Grade
Gte Federal Credit Union 401(k) Retirement Plan
Tampa, FLFinance & Insurance530 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,513Employer $ per active participant
$7,085Employee $ saved per active participant
0.55%Direct admin cost, % of plan assets
$61.3MNet plan assets, end of year
$92,770Average balance per account
Score breakdown
- Employer generosity35.6 / 5071th percentile for employer $ per participant
- Low cost5.0 / 2520th percentile for low admin cost vs. same-size plans
- Employee saving7.5 / 1550th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 71th |
| Lower admin cost | 20th |
| Employee saving | 50th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Gte Federal Credit Union put in about $5,513 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.
- Direct plan expenses (0.55% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $2,924,820 |
| Participant (employee) contributions | $3,758,790 |
| Other contributions (incl. rollovers in) | $624,376 |
| Administrative expenses paid from the plan | $310,320 |
| Contract administrator fees | $148,043 |
| Investment advisory & management fees | $81,421 |
| Other admin expenses | $5,728 |
| Benefits paid out | $3,462,756 |
| Net assets, start / end of year | $50.6M / $61.3M |
| Active participants, start / end of year | 536 / 525 |
| Participants with account balances | 661 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Doeren Mayhew Assurance |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $179,748 reported compensation |
| Ubs Financial Services Inc | $78,803 reported compensation |
| Retirement Solutions Specialists | $43,422 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250828175724NAL0010690145001, received 2025-08-28, EIN 59-0642956, plan #033, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.