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FIRST CHOICE CREDIT UNION 401(K) PLAN 401k Plan overview

Plan NameFIRST CHOICE CREDIT UNION 401(K) PLAN
Plan identification number 001

FIRST CHOICE CREDIT UNION 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Offset plan - Plan benefits are subject to offset for retirement benefits provided in another plan or arrangement of the employer.
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

FIRST CHOICE CREDIT UNION has sponsored the creation of one or more 401k plans.

Company Name:FIRST CHOICE CREDIT UNION
Employer identification number (EIN):041282555
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST CHOICE CREDIT UNION 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012017-01-01THOMAS HAMMOND2017-08-24
0012016-01-01KELLY DAVIDSON2017-06-05
0012015-01-01KELLY DAVIDSON2016-10-04
0012014-01-01PETER M VINCI2015-06-08
0012013-01-01PETER M VINCI2014-09-16
0012012-01-01PETER M VINCI2013-08-30
0012011-01-01PETER M. VINCI2012-07-26 PETER M. VINCI2012-07-26
0012009-01-01IRENE FISHER IRENE FISHER2010-07-19

Plan Statistics for FIRST CHOICE CREDIT UNION 401(K) PLAN

401k plan membership statisitcs for FIRST CHOICE CREDIT UNION 401(K) PLAN

Measure Date Value
2009: FIRST CHOICE CREDIT UNION 401(K) PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-012
Total number of active participants reported on line 7a of the Form 55002009-01-012
Number of retired or separated participants receiving benefits2009-01-010
Number of other retired or separated participants entitled to future benefits2009-01-010
Total of all active and inactive participants2009-01-012
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-012
Number of participants with account balances2009-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on FIRST CHOICE CREDIT UNION 401(K) PLAN

Measure Date Value
2010 : FIRST CHOICE CREDIT UNION 401(K) PLAN 2010 401k financial data
Total income from all sources2010-12-31$26,041
Expenses. Total of all expenses incurred2010-12-31$136
Benefits paid (including direct rollovers)2010-12-31$0
Total plan assets at end of year2010-12-31$110,906
Total plan assets at beginning of year2010-12-31$85,001
Value of fidelity bond covering the plan2010-12-31$1,000,000
Total contributions received or receivable from participants2010-12-31$7,245
Contributions received from other sources (not participants or employers)2010-12-31$0
Other income received2010-12-31$13,061
Net income (gross income less expenses)2010-12-31$25,905
Net plan assets at end of year (total assets less liabilities)2010-12-31$110,906
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$85,001
Total contributions received or receivable from employer(s)2010-12-31$5,735
Value of certain deemed distributions of participant loans2010-12-31$0
Value of corrective distributions2010-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$136
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0

Form 5500 Responses for FIRST CHOICE CREDIT UNION 401(K) PLAN

2009: FIRST CHOICE CREDIT UNION 401(K) PLAN 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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