Broadview Federal Credit Union 401(k) Review & Grade
Broadview Retirement Savings Plan
Albany, NYFinance & Insurance1,484 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$7,222Employer $ per active participant
$6,016Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$245.7MNet plan assets, end of year
$140,719Average balance per account
Score breakdown
- Employer generosity42.4 / 5085th percentile for employer $ per participant
- Low cost22.8 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving5.2 / 1534th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score70 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 91th |
| Employee saving | 34th |
| Peers that auto-enroll | 62% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $373,798 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Broadview Federal Credit Union put in about $7,222 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.
- 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 | $10,713,588 |
| Participant (employee) contributions | $8,924,765 |
| Other contributions (incl. rollovers in) | $952,471 |
| Administrative expenses paid from the plan | $85,620 |
| Benefits paid out | $21,725,648 |
| Net assets, start / end of year | $215.9M / $245.7M |
| Active participants, start / end of year | 1,532 / 1,435 |
| Participants with account balances | 1,746 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Firley Moran Freer & Eassa, CPA, PC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $85,620 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014093158NAL0001171987001, received 2025-10-14, EIN 14-1338566, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.