Wings Financial Credit Union 401(k) Review & Grade
Wings Financial Credit Union Retirement Savings Plan
Apple Valley, MNFinance & Insurance759 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,993Employer $ per active participant
$7,740Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$107.6MNet plan assets, end of year
$110,462Average balance per account
Score breakdown
- Employer generosity45.6 / 5091th percentile for employer $ per participant
- Low cost18.2 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1557th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score82 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 91th |
| Lower admin cost | 73th |
| Employee saving | 57th |
| Peers that auto-enroll | 62% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Wings Financial Credit Union put in about $9,993 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 | $7,584,490 |
| Participant (employee) contributions | $5,874,754 |
| Other contributions (incl. rollovers in) | $938,020 |
| Administrative expenses paid from the plan | $106,159 |
| Benefits paid out | $14,850,790 |
| Net assets, start / end of year | $94.0M / $107.6M |
| Active participants, start / end of year | 796 / 722 |
| Participants with account balances | 974 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | BGM CPA LLC |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $106,159 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003072905NAL0001151457001, received 2025-10-03, EIN 41-6028665, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.