Founders Federal Credit Union 401(k) Review & Grade
Founders Federal Credit Union Defined Contribution Plan
Lancaster, SCFinance & Insurance834 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,491Employer $ per active participant
$4,512Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$138.2MNet plan assets, end of year
$146,239Average balance per account
Score breakdown
- Employer generosity35.5 / 5071th percentile for employer $ per participant
- Low cost20.8 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving2.6 / 1517th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score69 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 71th |
| Lower admin cost | 83th |
| Employee saving | 17th |
| 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
- Founders Federal Credit Union put in about $5,491 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.
- 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 | $4,579,780 |
| Participant (employee) contributions | $3,763,331 |
| Other contributions (incl. rollovers in) | $481,724 |
| Administrative expenses paid from the plan | $85,122 |
| Investment advisory & management fees | $2,927 |
| Benefits paid out | $13,658,186 |
| Net assets, start / end of year | $124.0M / $138.2M |
| Active participants, start / end of year | 822 / 846 |
| Participants with account balances | 945 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Doeren Mayhew Assurance |
Largest service providers (Schedule C)
| Fid Inv Inst. Ops Co | $82,095 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250731145430NAL0003167107001, received 2025-07-31, EIN 57-0762987, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.