Elevations Credit Union 401(k) Review & Grade
Elevations Credit Union Capital Accumulation Plan
Boulder, COFinance & Insurance578 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,366Employer $ per active participant
$8,003Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$78.2MNet plan assets, end of year
$116,728Average balance per account
Score breakdown
- Employer generosity22.8 / 5046th percentile for employer $ per participant
- Low cost17.8 / 2571th percentile for low admin cost vs. same-size plans
- Employee saving9.1 / 1560th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 71th |
| Employee saving | 60th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Elevations Credit Union put in about $3,366 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 | $1,943,635 |
| Participant (employee) contributions | $4,621,775 |
| Other contributions (incl. rollovers in) | $514,155 |
| Administrative expenses paid from the plan | $80,857 |
| Contract administrator fees | $300 |
| Investment advisory & management fees | $11,004 |
| Benefits paid out | $5,961,638 |
| Net assets, start / end of year | $66.2M / $78.2M |
| Active participants, start / end of year | 582 / 573 |
| Participants with account balances | 670 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly, US, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $69,853 reported compensation |
| Strategic Advisors, Inc. | $11,004 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250721145315NAL0002095856001, received 2025-07-21, EIN 84-0459116, plan #033, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.