Service Federal Credit Union 401(k) Review & Grade
Service Federal Credit Union Profit Sharing/401k Plan
Portsmouth, NHFinance & Insurance982 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$7,175Employer $ per active participant
$4,746Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$112.9MNet plan assets, end of year
$88,933Average balance per account
Score breakdown
- Employer generosity42.3 / 5085th percentile for employer $ per participant
- Low cost21.5 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving3.0 / 1520th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 86th |
| Employee saving | 20th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $52,430 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Service Federal Credit Union put in about $7,175 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.
- 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 | $7,049,435 |
| Participant (employee) contributions | $4,662,581 |
| Other contributions (incl. rollovers in) | $2,250,934 |
| Administrative expenses paid from the plan | $55,366 |
| Investment advisory & management fees | $35,859 |
| Benefits paid out | $7,282,584 |
| Net assets, start / end of year | $90.4M / $112.9M |
| Active participants, start / end of year | 966 / 999 |
| Participants with account balances | 1,270 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Caron & Bletzer, PLLC |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $35,858 reported compensation |
| Fidelity Investments Institutional | $19,507 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250825095459NAL0015315346001, received 2025-08-25, EIN 02-0240752, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.