First Tech Federal Credit Union 401(k) Review & Grade
First Tech Federal Credit Union Employees Qualified Savings Plan
Hillsboro, ORFinance & Insurance1,588 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,788Employer $ per active participant
$8,679Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$265.3MNet plan assets, end of year
$114,006Average balance per account
Score breakdown
- Employer generosity32.4 / 5065th percentile for employer $ per participant
- Low cost23.9 / 2596th percentile for low admin cost vs. same-size plans
- Employee saving10.1 / 1567th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 65th |
| Lower admin cost | 96th |
| Employee saving | 67th |
| 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 ($1,492 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $2,511 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- First Tech Federal Credit Union put in about $4,788 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.
- 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 | $7,605,400 |
| Participant (employee) contributions | $13,787,166 |
| Other contributions (incl. rollovers in) | $2,873,563 |
| Administrative expenses paid from the plan | $48,145 |
| Contract administrator fees | $48,145 |
| Benefits paid out | $22,003,196 |
| Net assets, start / end of year | $227.9M / $265.3M |
| Active participants, start / end of year | 1,629 / 1,548 |
| Participants with account balances | 2,327 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Stancorp Financial Group | $210,295 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250801151519NAL0003252819001, received 2025-08-01, EIN 23-7062675, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.