Visions Federal Credit Union 401(k) Review & Grade
Visions Federal Credit Union 401(k) Plan
Endicott, NYFinance & Insurance821 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,343Employer $ per active participant
$5,738Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$70.6MNet plan assets, end of year
$73,463Average balance per account
Score breakdown
- Employer generosity13.5 / 5027th percentile for employer $ per participant
- Low cost23.0 / 2592th percentile for low admin cost vs. same-size plans
- Employee saving4.7 / 1531th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 27th |
| Lower admin cost | 92th |
| Employee saving | 31th |
| 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
- Visions Federal Credit Union put in about $2,343 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.
- 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 | $1,924,013 |
| Participant (employee) contributions | $4,710,498 |
| Other contributions (incl. rollovers in) | $354,737 |
| Administrative expenses paid from the plan | $21,225 |
| Investment advisory & management fees | $6,340 |
| Benefits paid out | $2,568,167 |
| Net assets, start / end of year | $57.5M / $70.6M |
| Active participants, start / end of year | 824 / 818 |
| Participants with account balances | 961 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance Co | $14,885 reported compensation |
| Empower Advisory Group, LLC | $6,340 reported compensation |
| Charles Schwab & Co., Inc. | $211 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250903094059NAL0031290210001, received 2025-09-03, EIN 16-0920502, plan #033, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.