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HIGH POINT FCU 401(K) RETIREMENT PLAN 401k Plan overview

Plan NameHIGH POINT FCU 401(K) RETIREMENT PLAN
Plan identification number 033

HIGH POINT FCU 401(K) RETIREMENT PLAN Benefits

401k Plan TypeDefined 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

HIGH POINT FEDERAL CREDIT UNION has sponsored the creation of one or more 401k plans.

Company Name:HIGH POINT FEDERAL CREDIT UNION
Employer identification number (EIN):161022820
NAIC Classification:522130
NAIC Description:Credit Unions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan HIGH POINT FCU 401(K) RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0332023-01-01RICHARD YEAGER2024-06-03
0332022-01-01MARY PALUMBO2023-03-06
0332021-01-01MARY PALUMBO2022-06-21
0332020-01-01MARY PALUMBO2021-07-20
0332019-01-01MARY PALUMBO2020-07-09
0332018-01-01MARY PALUMBO2019-08-20
0332017-01-01MARY PALUMBO2018-03-28
0332016-01-01MARY PALUMBO2017-03-31
0332015-01-01MARY PALUMBO2016-04-15
0332014-01-01MARY PALUMBO2015-07-28
0332013-01-01MARY PALUMBO2014-05-02
0332012-01-01MARY PALUMBO2013-06-14
0332011-01-01MARY PALUMBO2012-05-11
0332010-01-01LEE ANN DINEEN
0332009-01-01LEE ANN DINEEN

Plan Statistics for HIGH POINT FCU 401(K) RETIREMENT PLAN

401k plan membership statisitcs for HIGH POINT FCU 401(K) RETIREMENT PLAN

Measure Date Value
2025: HIGH POINT FCU 401(K) RETIREMENT PLAN 2025 401k membership
Total number of particpants at beginning of year2025-07-29107
Total number of particpants at end of year2025-07-29107
Number of Participants With Account Balances2025-07-29103
2024: HIGH POINT FCU 401(K) RETIREMENT PLAN 2024 401k membership
Total number of particpants at beginning of year2024-06-03102
Total number of particpants at end of year2024-06-03105
Number of Participants With Account Balances2024-06-0399
2010: HIGH POINT FCU 401(K) RETIREMENT PLAN 2010 401k membership
Total participants, beginning-of-year2010-01-0150
Total number of active participants reported on line 7a of the Form 55002010-01-0145
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-013
Total of all active and inactive participants2010-01-0148
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-0148
Number of participants with account balances2010-01-0144
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-014
2009: HIGH POINT FCU 401(K) RETIREMENT PLAN 2009 401k membership
Total participants, beginning-of-year2009-01-0149
Total number of active participants reported on line 7a of the Form 55002009-01-0146
Number of retired or separated participants receiving benefits2009-01-0118
Number of other retired or separated participants entitled to future benefits2009-01-010
Total of all active and inactive participants2009-01-0164
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-010
Total participants2009-01-0164
Number of participants with account balances2009-01-0145
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-010

Financial Data on HIGH POINT FCU 401(K) RETIREMENT PLAN

Measure Date Value
2025 : HIGH POINT FCU 401(K) RETIREMENT PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-07-290
Total liabilities as of the end of the plan year2025-07-290
Total liabilities as of the beginning of the plan year2025-07-290
Total expenses incurred by plan in this plan year2025-07-29289726
Net assets as of the end of the plan year2025-07-297289299
Total assets as of the beginning of the plan year2025-07-296175871
Value of plan covered by a fidelity bond2025-07-295000000
Participant contributions to plan in this plan year2025-07-29243565
Value of participant loans at end of plan year2025-07-29115485
Other expenses paid from plan in this plan year2025-07-290
Other contributions to plan in this plan year2025-07-291836
Other income to plan in this plan year2025-07-29797797
Plan net income in this plan year2025-07-291113428
Net assets as of the end of the plan year2025-07-297289299
Net assets as of the beginning of the plan year2025-07-296175871
Employer contributions to plan in this plan year2025-07-29359956
Fees paid to broker by Benefit Provider2025-07-292647
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-2928750
2024 : HIGH POINT FCU 401(K) RETIREMENT PLAN 2024 401k financial data
Total transfers to/from plan in this plan year2024-06-030
Total liabilities as of the end of the plan year2024-06-030
Total liabilities as of the beginning of the plan year2024-06-030
Total expenses incurred by plan in this plan year2024-06-032555142
Net assets as of the end of the plan year2024-06-036175871
Total assets as of the beginning of the plan year2024-06-037074032
Value of plan covered by a fidelity bond2024-06-035000000
Participant contributions to plan in this plan year2024-06-03230315
Value of participant loans at end of plan year2024-06-03156760
Other expenses paid from plan in this plan year2024-06-030
Other contributions to plan in this plan year2024-06-03125159
Other income to plan in this plan year2024-06-03916223
Plan net income in this plan year2024-06-03-898161
Net assets as of the end of the plan year2024-06-036175871
Net assets as of the beginning of the plan year2024-06-037074032
Employer contributions to plan in this plan year2024-06-03385284
Fees paid to broker by Benefit Provider2024-06-032499
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-0339196
2010 : HIGH POINT FCU 401(K) RETIREMENT PLAN 2010 401k financial data
Total plan liabilities at end of year2010-12-31$0
Total plan liabilities at beginning of year2010-12-31$0
Total income from all sources2010-12-31$538,447
Expenses. Total of all expenses incurred2010-12-31$198,884
Benefits paid (including direct rollovers)2010-12-31$198,302
Total plan assets at end of year2010-12-31$2,149,324
Total plan assets at beginning of year2010-12-31$1,809,761
Value of fidelity bond covering the plan2010-12-31$350,000
Total contributions received or receivable from participants2010-12-31$104,961
Contributions received from other sources (not participants or employers)2010-12-31$12,116
Other income received2010-12-31$219,534
Net income (gross income less expenses)2010-12-31$339,563
Net plan assets at end of year (total assets less liabilities)2010-12-31$2,149,324
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$1,809,761
Assets. Value of participant loans2010-12-31$59,967
Total contributions received or receivable from employer(s)2010-12-31$201,836
Expenses. Administrative service providers (salaries,fees and commissions)2010-12-31$582
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0
2009 : HIGH POINT FCU 401(K) RETIREMENT PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2009-12-31$0

Form 5500 Responses for HIGH POINT FCU 401(K) RETIREMENT PLAN

2010: HIGH POINT FCU 401(K) RETIREMENT PLAN 2010 form 5500 responses
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingNo
2010-01-01This return/report is a short plan year return/report (less than 12 months)No
2010-01-01Plan is a collectively bargained planNo
2010-01-01Plan funding arrangement – InsuranceYes
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement – InsuranceYes
2010-01-01Plan benefit arrangement - TrustYes
2009: HIGH POINT FCU 401(K) RETIREMENT 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 – InsuranceYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement – InsuranceYes
2009-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY OF NEW YORK (National Association of Insurance Commissioners NAIC id number: 86375 )
Policy contract number82309
Policy instance 1

Potentially related plans

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