Veridian Credit Union 401(k) Review & Grade
Veridian Credit Union 401(k) Plan and Trust
Waterloo, IAFinance & Insurance1,007 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,165Employer $ per active participant
$5,122Employee $ saved per active participant
0.19%Direct admin cost, % of plan assets
$198.7MNet plan assets, end of year
$169,414Average balance per account
Score breakdown
- Employer generosity44.1 / 5088th percentile for employer $ per participant
- Low cost14.1 / 2556th percentile for low admin cost vs. same-size plans
- Employee saving3.7 / 1525th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 56th |
| Employee saving | 25th |
| 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
- Veridian Credit Union put in about $8,165 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 | $8,221,983 |
| Participant (employee) contributions | $5,157,767 |
| Other contributions (incl. rollovers in) | $662,999 |
| Administrative expenses paid from the plan | $346,376 |
| Investment advisory & management fees | $276,205 |
| Other admin expenses | $616 |
| Benefits paid out | $10,030,192 |
| Net assets, start / end of year | $170.6M / $198.7M |
| Active participants, start / end of year | 998 / 1,016 |
| Participants with account balances | 1,173 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bt&co., PA |
Largest service providers (Schedule C)
| Capfinancial Partners LLC DBA Captr | $223,487 reported compensation |
| Empower Annuity Insurance Company | $53,264 reported compensation |
| Empower Advisory Group, LLC | $52,718 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250923082805NAL0002466371001, received 2025-09-23, EIN 42-1132695, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.