401k Plan data: DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN plan

DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN 401k Plan overview

Plan Name	DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN
Plan identification number	002

DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN Benefits

401k Plan Type

Defined Contribution Pension

Plan Features/Benefits

Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
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.
Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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

DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION has sponsored the creation of one or more 401k plans.

Company Name: DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION

Employer identification number (EIN): 530056498

NAIC Classification: 522130
NAIC Description: Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2023-01-01
002 2022-01-01 REISA P. JACKSON 2023-10-13
002 2022-01-01 REISA P. JACKSON 2023-12-08
002 2021-01-01
002 2020-01-01
002 2019-01-01
002 2018-01-01
002 2017-01-01
002 2016-01-01
002 2015-01-01
002 2014-01-01
002 2013-01-01 EVAN CLARK 2014-09-23
002 2012-01-01 EVAN CLARK 2013-07-10 EVAN CLARK 2013-07-10
002 2011-01-01 EVAN CLARK 2012-10-04 EVAN CLARK 2012-10-04
002 2010-01-01 JOHN BROWN 2011-05-26 JOHN BROWN 2011-05-26

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
002	2023-01-01
002	2022-01-01	REISA P. JACKSON	2023-10-13
002	2022-01-01	REISA P. JACKSON	2023-12-08
002	2021-01-01
002	2020-01-01
002	2019-01-01
002	2018-01-01
002	2017-01-01
002	2016-01-01
002	2015-01-01
002	2014-01-01
002	2013-01-01	EVAN CLARK	2014-09-23
002	2012-01-01	EVAN CLARK	2013-07-10	EVAN CLARK	2013-07-10
002	2011-01-01	EVAN CLARK	2012-10-04	EVAN CLARK	2012-10-04
002	2010-01-01	JOHN BROWN	2011-05-26	JOHN BROWN	2011-05-26

Plan Statistics for DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN

401k plan membership statisitcs for DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN

Measure Date Value
2023: DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN 2023 401k membership
Total participants, beginning-of-year 2023-01-01 146
Total number of active participants reported on line 7a of the Form 5500 2023-01-01 101
Number of retired or separated participants receiving benefits 2023-01-01 7
Number of other retired or separated participants entitled to future benefits 2023-01-01 39
Total of all active and inactive participants 2023-01-01 147
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2023-01-01 0
Total participants 2023-01-01 147
Number of participants with account balances 2023-01-01 137
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2023-01-01 14
2022: DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year 2022-01-01 128
Total number of active participants reported on line 7a of the Form 5500 2022-01-01 104
Number of retired or separated participants receiving benefits 2022-01-01 4
Number of other retired or separated participants entitled to future benefits 2022-01-01 37
Total of all active and inactive participants 2022-01-01 145
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2022-01-01 0
Total participants 2022-01-01 145
Number of participants with account balances 2022-01-01 140
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2022-01-01 4

Measure	Date	Value
2023: DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN 2023 401k membership
Total participants, beginning-of-year	2023-01-01	146
Total number of active participants reported on line 7a of the Form 5500	2023-01-01	101
Number of retired or separated participants receiving benefits	2023-01-01	7
Number of other retired or separated participants entitled to future benefits	2023-01-01	39
Total of all active and inactive participants	2023-01-01	147
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2023-01-01	0
Total participants	2023-01-01	147
Number of participants with account balances	2023-01-01	137
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2023-01-01	14
2022: DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year	2022-01-01	128
Total number of active participants reported on line 7a of the Form 5500	2022-01-01	104
Number of retired or separated participants receiving benefits	2022-01-01	4
Number of other retired or separated participants entitled to future benefits	2022-01-01	37
Total of all active and inactive participants	2022-01-01	145
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2022-01-01	0
Total participants	2022-01-01	145
Number of participants with account balances	2022-01-01	140
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2022-01-01	4

Financial Data on DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN

Measure	Date	Value
2023 : DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN 2023 401k financial data
Total income from all sources (including contributions)	2023-12-31	$3,317,218
Total of all expenses incurred	2023-12-31	$1,451,772
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2023-12-31	$1,407,054
Expenses. Certain deemed distributions of participant loans	2023-12-31	$-66
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2023-12-31	$1,729,580
Value of total assets at end of year	2023-12-31	$12,014,435
Value of total assets at beginning of year	2023-12-31	$10,148,989
Total of administrative expenses incurred including professional, contract, advisory and management fees	2023-12-31	$44,784
Total interest from all sources	2023-12-31	$20,620
Total dividends received (eg from common stock, registered investment company shares)	2023-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2023-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2023-12-31	$0
Was this plan covered by a fidelity bond	2023-12-31	Yes
Value of fidelity bond cover	2023-12-31	$9,000,000
If this is an individual account plan, was there a blackout period	2023-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2023-12-31	No
Contributions received from participants	2023-12-31	$656,953
Participant contributions at end of year	2023-12-31	$450,888
Participant contributions at beginning of year	2023-12-31	$333,053
Participant contributions at end of year	2023-12-31	$0
Income. Received or receivable in cash from other sources (including rollovers)	2023-12-31	$22,397
Value of other receiveables (less allowance for doubtful accounts) at end of year	2023-12-31	$0
Total non interest bearing cash at end of year	2023-12-31	$35,924
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2023-12-31	No
Value of net income/loss	2023-12-31	$1,865,446
Value of net assets at end of year (total assets less liabilities)	2023-12-31	$12,014,435
Value of net assets at beginning of year (total assets less liabilities)	2023-12-31	$10,148,989
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2023-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2023-12-31	No
Were any leases to which the plan was party in default or uncollectible	2023-12-31	No
Investment advisory and management fees	2023-12-31	$4,125
Value of interest in registered invesment companies (eg mutual funds) at end of year	2023-12-31	$10,406,694
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2023-12-31	$6,767,488
Interest on participant loans	2023-12-31	$20,620
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2023-12-31	$0
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2023-12-31	$1,120,929
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2023-12-31	$3,048,448
Expenses. Payments to insurance carriers foe the provision of benefits	2023-12-31	$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2023-12-31	$1,567,018
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2023-12-31	No
Was there a failure to transmit to the plan any participant contributions	2023-12-31	No
Has the plan failed to provide any benefit when due under the plan	2023-12-31	No
Contributions received in cash from employer	2023-12-31	$1,050,230
Employer contributions (assets) at end of year	2023-12-31	$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2023-12-31	$1,407,054
Contract administrator fees	2023-12-31	$4,075
Did the plan have assets held for investment	2023-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2023-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2023-12-31	No
Opinion of an independent qualified public accountant for this plan	2023-12-31	Unqualified
Accountancy firm name	2023-12-31	DOEREN MAYHEW
Accountancy firm EIN	2023-12-31	382492570
2022 : DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets	2022-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$0
Total income from all sources (including contributions)	2022-12-31	$178,930
Total loss/gain on sale of assets	2022-12-31	$0
Total of all expenses incurred	2022-12-31	$361,568
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2022-12-31	$346,437
Expenses. Certain deemed distributions of participant loans	2022-12-31	$4,620
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2022-12-31	$1,505,194
Value of total assets at end of year	2022-12-31	$10,148,989
Value of total assets at beginning of year	2022-12-31	$10,331,627
Total of administrative expenses incurred including professional, contract, advisory and management fees	2022-12-31	$10,511
Total interest from all sources	2022-12-31	$11,540
Total dividends received (eg from common stock, registered investment company shares)	2022-12-31	$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2022-12-31	No
Administrative expenses professional fees incurred	2022-12-31	$10,511
Was this plan covered by a fidelity bond	2022-12-31	Yes
Value of fidelity bond cover	2022-12-31	$6,000,000
If this is an individual account plan, was there a blackout period	2022-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2022-12-31	No
Contributions received from participants	2022-12-31	$576,446
Participant contributions at end of year	2022-12-31	$333,053
Participant contributions at beginning of year	2022-12-31	$262,555
Income. Received or receivable in cash from other sources (including rollovers)	2022-12-31	$93,754
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Value of net income/loss	2022-12-31	$-182,638
Value of net assets at end of year (total assets less liabilities)	2022-12-31	$10,148,989
Value of net assets at beginning of year (total assets less liabilities)	2022-12-31	$10,331,627
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2022-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2022-12-31	No
Were any leases to which the plan was party in default or uncollectible	2022-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2022-12-31	$6,767,488
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2022-12-31	$7,797,097
Income. Interest from loans (other than to participants)	2022-12-31	$11,540
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2022-12-31	$3,048,448
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2022-12-31	$2,271,975
Expenses. Payments to insurance carriers foe the provision of benefits	2022-12-31	$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2022-12-31	$-1,337,804
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2022-12-31	No
Was there a failure to transmit to the plan any participant contributions	2022-12-31	No
Has the plan failed to provide any benefit when due under the plan	2022-12-31	No
Contributions received in cash from employer	2022-12-31	$834,994
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2022-12-31	$346,437
Did the plan have assets held for investment	2022-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2022-12-31	No
Opinion of an independent qualified public accountant for this plan	2022-12-31	Unqualified
Accountancy firm name	2022-12-31	DOEREN MAYHEW
Accountancy firm EIN	2022-12-31	382492570

Form 5500 Responses for DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN

2023: DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN 2023 form 5500 responses
2023-01-01	Type of plan entity	Single employer plan
2023-01-01	Plan funding arrangement – Insurance	Yes
2023-01-01	Plan funding arrangement – Trust	Yes
2023-01-01	Plan benefit arrangement – Insurance	Yes
2023-01-01	Plan benefit arrangement - Trust	Yes
2022: DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION 401(K) PLAN 2022 form 5500 responses
2022-01-01	Type of plan entity	Single employer plan
2022-01-01	Submission has been amended	No
2022-01-01	This submission is the final filing	No
2022-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2022-01-01	Plan is a collectively bargained plan	No
2022-01-01	Plan funding arrangement – Insurance	Yes
2022-01-01	Plan funding arrangement – Trust	Yes
2022-01-01	Plan benefit arrangement – Insurance	Yes
2022-01-01	Plan benefit arrangement - Trust	Yes

Insurance Providers Used on plan

VOYA RETIRIEMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )

Policy contract number

814556

Policy instance

Insurance contract or identification number	814556
Number of Individuals Covered	0
Insurance policy start date	2023-01-01
Insurance policy end date	2023-04-21
Total amount of commissions paid to insurance broker	USD $8,562
Total amount of fees paid to insurance company	USD $0
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )

Policy contract number

160642

Policy instance

Insurance contract or identification number	160642
Number of Individuals Covered	142
Insurance policy start date	2023-04-21
Insurance policy end date	2023-12-31
Total amount of commissions paid to insurance broker	USD $36,129
Total amount of fees paid to insurance company	USD $36,755
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No

VOYA RETIREMENT INSURANCE AND ANNUITY COMPANY (National Association of Insurance Commissioners NAIC id number: 86509 )

Policy contract number

814556

Policy instance

Insurance contract or identification number	814556
Number of Individuals Covered	140
Insurance policy start date	2022-01-01
Insurance policy end date	2022-12-31
Total amount of commissions paid to insurance broker	USD $24,098
Total amount of fees paid to insurance company	USD $0
Are there contracts with allocated funds for individual policies?	0
Are there contracts with allocated funds for group deferred annuity?	No
Are there contracts with allocated funds for types other than group deferred annuity or individual?	No
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Contracts With Unallocated Funds Deposit Administration	0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?	No
Are there contracts with unallocated funds for contracts of type guaranteed investment?	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	No
Health Insurance Welfare Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $24,098
Insurance broker organization code?	3

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Company Name:	DEPARTMENT OF COMMERCE FEDERAL CREDIT UNION
Employer identification number (EIN):	530056498
NAIC Classification:	522130
NAIC Description:	Credit Unions