Northwest Federal Credit Union 401(k) Review & Grade
Northwest Federal Credit Union 401(k) Savings Plan
Herndon, VAFinance & Insurance550 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,685Employer $ per active participant
$8,980Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$120.8MNet plan assets, end of year
$153,131Average balance per account
Score breakdown
- Employer generosity36.5 / 5073th percentile for employer $ per participant
- Low cost20.7 / 2583th percentile for low admin cost vs. same-size plans
- Employee saving10.4 / 1569th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score78 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 73th |
| Lower admin cost | 83th |
| Employee saving | 69th |
| 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
- Northwest Federal Credit Union put in about $5,685 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 | $3,123,805 |
| Participant (employee) contributions | $4,934,680 |
| Other contributions (incl. rollovers in) | $2,425,717 |
| Administrative expenses paid from the plan | $74,008 |
| Other admin expenses | $292 |
| Benefits paid out | $8,660,507 |
| Net assets, start / end of year | $106.2M / $120.8M |
| Active participants, start / end of year | 553 / 546 |
| Participants with account balances | 789 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $63,981 reported compensation |
| Clifton Larson Allen LLP | $9,735 reported compensation |
| Charles Schwab & Co., Inc. | $100 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250612105425NAL0028260880001, received 2025-06-12, EIN 53-0216888, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.