Sunward Federal Credit Union 401(k) Review & Grade
Sunward Federal Credit Union 401(k) Plan and Trust
Albuquerque, NMFinance & Insurance531 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,727Employer $ per active participant
$6,347Employee $ saved per active participant
0.17%Direct admin cost, % of plan assets
$45.2MNet plan assets, end of year
$74,846Average balance per account
Score breakdown
- Employer generosity17.0 / 5034th percentile for employer $ per participant
- Low cost14.7 / 2559th percentile for low admin cost vs. same-size plans
- Employee saving6.1 / 1541th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 34th |
| Lower admin cost | 59th |
| Employee saving | 41th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $11,132 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Sunward Federal Credit Union put in about $2,727 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.
- 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 | $1,448,148 |
| Participant (employee) contributions | $3,370,483 |
| Other contributions (incl. rollovers in) | $391,454 |
| Administrative expenses paid from the plan | $73,918 |
| Contract administrator fees | $27,605 |
| Investment advisory & management fees | $38,441 |
| Benefits paid out | $4,250,860 |
| Net assets, start / end of year | $39.3M / $45.2M |
| Active participants, start / end of year | 527 / 535 |
| Participants with account balances | 604 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Members Capital Advisors, Inc. | $39,361 reported compensation |
| Cmfg Life Insurance Company | $35,477 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008155050NAL0006090625001, received 2025-10-08, EIN 85-0113445, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.