Twinstar Credit Union 401(k) Review & Grade
Twinstar Credit Union Profit Sharing and 401(k) Salary Reduction Plan
Olympia, WAFinance & Insurance787 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,879Employer $ per active participant
$6,760Employee $ saved per active participant
0.45%Direct admin cost, % of plan assets
$85.7MNet plan assets, end of year
$83,453Average balance per account
Score breakdown
- Employer generosity41.2 / 5082th percentile for employer $ per participant
- Low cost6.7 / 2527th percentile for low admin cost vs. same-size plans
- Employee saving6.9 / 1546th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score55 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 82th |
| Lower admin cost | 27th |
| Employee saving | 46th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($712,482 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Twinstar Credit Union put in about $6,879 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 (0.45% 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $5,413,407 |
| Participant (employee) contributions | $5,319,977 |
| Other contributions (incl. rollovers in) | $2,830,594 |
| Administrative expenses paid from the plan | $351,659 |
| Contract administrator fees | $69,171 |
| Investment advisory & management fees | $151,216 |
| Other admin expenses | $90,022 |
| Benefits paid out | $7,903,865 |
| Net assets, start / end of year | $71.6M / $85.7M |
| Active participants, start / end of year | 770 / 804 |
| Participants with account balances | 1,027 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Jones & Roth, PC |
Largest service providers (Schedule C)
| Alera Group Inc DBA Alera Investmen | $112,211 reported compensation |
| Empower Annuity Insurance Company O | $69,171 reported compensation |
| Prime Pensions Northwest LLC | $54,661 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015164950NAL0002660947001, received 2025-10-15, EIN 91-0440744, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.