Security Service Federal Credit Union 401(k) Review & Grade
Security Service Federal Credit Union Cash Accumulation Plan and Trust
San Antonio, TXFinance & Insurance1,977 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,060Employer $ per active participant
$6,317Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$315.6MNet plan assets, end of year
$124,926Average balance per account
Score breakdown
- Employer generosity43.8 / 5088th percentile for employer $ per participant
- Low cost18.1 / 2572th percentile for low admin cost vs. same-size plans
- Employee saving6.0 / 1540th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score75 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 72th |
| Employee saving | 40th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $314 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Security Service Federal Credit Union put in about $8,060 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 | $15,934,038 |
| Participant (employee) contributions | $12,488,952 |
| Other contributions (incl. rollovers in) | $2,207,088 |
| Administrative expenses paid from the plan | $319,960 |
| Investment advisory & management fees | $100,000 |
| Benefits paid out | $30,516,573 |
| Net assets, start / end of year | $278.2M / $315.6M |
| Active participants, start / end of year | 2,008 / 1,946 |
| Participants with account balances | 2,526 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $228,074 reported compensation |
| Gallagher Benefit Services Inc | $100,000 reported compensation |
| Forvis, LLP | $43,575 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250916160342NAL0005483778001, received 2025-09-16, EIN 74-1277697, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.