Credit Union of Texas 401(k) Review & Grade
Credit Union of Texas 401(k) Plan
Allen, TXFinance & Insurance575 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,866Employer $ per active participant
$4,132Employee $ saved per active participant
0.42%Direct admin cost, % of plan assets
$26.7MNet plan assets, end of year
$43,261Average balance per account
Score breakdown
- Employer generosity18.3 / 5037th percentile for employer $ per participant
- Low cost7.3 / 2529th percentile for low admin cost vs. same-size plans
- Employee saving2.2 / 1514th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 29th |
| Employee saving | 14th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $53,159 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Credit Union of Texas put in about $2,866 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.
- Direct plan expenses (0.42% 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.
- 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 | $1,647,822 |
| Participant (employee) contributions | $2,375,765 |
| Other contributions (incl. rollovers in) | $203,689 |
| Administrative expenses paid from the plan | $100,744 |
| Contract administrator fees | $56,848 |
| Investment advisory & management fees | $43,896 |
| Benefits paid out | $2,219,997 |
| Net assets, start / end of year | $21.7M / $26.7M |
| Active participants, start / end of year | 568 / 582 |
| Participants with account balances | 618 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Doeren Mayhew Assurance |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $56,663 reported compensation |
| Creative Planning, LLC | $43,945 reported compensation |
| Creative Planning, LLC | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250715142141NAL0001683203001, received 2025-07-15, EIN 75-0225045, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.