Coastal Federal Credit Union 401(k) Review & Grade
Coastal Federal Credit Union 401(k) Plan and Trust
Raleigh, NCFinance & Insurance622 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,964Employer $ per active participant
$6,929Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$89.3MNet plan assets, end of year
$119,038Average balance per account
Score breakdown
- Employer generosity27.7 / 5055th percentile for employer $ per participant
- Low cost11.2 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving7.3 / 1549th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 45th |
| Employee saving | 49th |
| 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
- Coastal Federal Credit Union put in about $3,964 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 | $2,467,745 |
| Participant (employee) contributions | $4,313,147 |
| Other contributions (incl. rollovers in) | $493,503 |
| Administrative expenses paid from the plan | $232,103 |
| Contract administrator fees | $130,005 |
| Investment advisory & management fees | $63,854 |
| Benefits paid out | $13,629,943 |
| Net assets, start / end of year | $84.9M / $89.3M |
| Active participants, start / end of year | 632 / 613 |
| Participants with account balances | 750 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Doeren Mayhew Assurance |
Largest service providers (Schedule C)
| Cmfg Life Insurance Company | $168,249 reported compensation |
| Capfinancial Partners, LLC | $50,000 reported compensation |
| Members Capital Advisors, Inc. D/B/ | $13,853 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250930141315NAL0005535491001, received 2025-09-30, EIN 56-0904243, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.