Liberty Federal Credit Union 401(k) Review & Grade
Liberty Federal Credit Union 401(k) Plan and Trust
Evansville, INFinance & Insurance621 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,530Employer $ per active participant
$4,110Employee $ saved per active participant
0.35%Direct admin cost, % of plan assets
$49.8MNet plan assets, end of year
$72,333Average balance per account
Score breakdown
- Employer generosity24.5 / 5049th percentile for employer $ per participant
- Low cost8.9 / 2535th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 49th |
| Lower admin cost | 35th |
| Employee saving | 14th |
| 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
- Liberty Federal Credit Union put in about $3,530 per active participant, below the typical peer ($3,606). Any match is still an instant return, so contribute enough to get all of it.
- 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 (0.35% 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.
- 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 | $2,192,149 |
| Participant (employee) contributions | $2,552,218 |
| Other contributions (incl. rollovers in) | $126,144 |
| Administrative expenses paid from the plan | $160,803 |
| Contract administrator fees | $99,792 |
| Investment advisory & management fees | $43,579 |
| Benefits paid out | $3,883,924 |
| Net assets, start / end of year | $42.6M / $49.8M |
| Active participants, start / end of year | 639 / 603 |
| Participants with account balances | 689 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Doeren Mayhew Assurance |
Largest service providers (Schedule C)
| Cmfg Life Insurance Company | $117,224 reported compensation |
| Members Capital Advisors, Inc. | $43,579 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250923125618NAL0002565459001, received 2025-09-23, EIN 35-0885388, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.