Ascend Federal Credit Union 401(k) Review & Grade
Ascend Federal Credit Union Cash Or Deferred Compensation Plan
Tullahoma, TNFinance & Insurance628 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,111Employer $ per active participant
$5,088Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$51.4MNet plan assets, end of year
$69,784Average balance per account
Score breakdown
- Employer generosity20.4 / 5041th percentile for employer $ per participant
- Low cost19.2 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving3.6 / 1524th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 77th |
| Employee saving | 24th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $9,348 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Ascend Federal Credit Union put in about $3,111 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.
- 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 | $1,955,136 |
| Participant (employee) contributions | $3,197,541 |
| Other contributions (incl. rollovers in) | $210,271 |
| Administrative expenses paid from the plan | $42,703 |
| Investment advisory & management fees | $36,380 |
| Benefits paid out | $3,644,324 |
| Net assets, start / end of year | $44.2M / $51.4M |
| Active participants, start / end of year | 620 / 637 |
| Participants with account balances | 736 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Doeren Mayhew Assurance |
Largest service providers (Schedule C)
| Financial Management Advisors LLC | $36,380 reported compensation |
| Fidelity Investments Institutional | $6,323 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009153721NAL0011778192001, received 2025-10-09, EIN 62-0527850, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.