Space Coast Credit Union 401(k) Review & Grade
Space Coast Credit Union 401(k) Savings Plan
Melbourne, FLFinance & Insurance1,096 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,890Employer $ per active participant
$3,956Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$75.4MNet plan assets, end of year
$47,095Average balance per account
Score breakdown
- Employer generosity18.5 / 5037th percentile for employer $ per participant
- Low cost22.5 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving1.9 / 1512th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score46 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 37th |
| Lower admin cost | 90th |
| Employee saving | 12th |
| 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
- Space Coast Credit Union put in about $2,890 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 | $3,165,649 |
| Participant (employee) contributions | $4,333,978 |
| Other contributions (incl. rollovers in) | $114,894 |
| Administrative expenses paid from the plan | $28,351 |
| Benefits paid out | $4,751,660 |
| Net assets, start / end of year | $62.5M / $75.4M |
| Active participants, start / end of year | 1,053 / 1,138 |
| Participants with account balances | 1,601 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Warren Averett, LLC |
Largest service providers (Schedule C)
| Charles Schwab Trust Bank | $29,808 reported compensation |
| Epic Retirement Plan Services | $28,351 reported compensation |
| Charles Schwab & Co., Inc. | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006065724NAL0001892403001, received 2025-10-06, EIN 59-0746906, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.