Desert Financial Credit Union 401(k) match, vesting and fees
What Desert Financial Credit Union's 401(k) plan says about matching contributions
The Credit Union annually makes a safe harbor matching contribution equal to 100% of participant contributions up to 3% of eligible compensation deferred to the Plan plus 50% of participant contributions between 3% and 5% of eligible compensation deferred to the Plan.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | 2024 audit report, p. 29 ↗ |
| Match vesting | Participants are immediately vested in their contributions and the safe harbor matching contributions, plus actual earnings thereon. Participants vest in the Credit Union’s nonelective contributions and the proportionate share of investment earnings at a rate of 20% for each year of credited service by the participant with 100% vesting after five years of credited services. Participants become fully vested upon death, disability, or attainment the age of 65 while employed by the Credit Union. | 2024 audit report, p. 30 ↗ |
| Automatic enrollment | The Plan includes an auto-enrollment provision whereby all newly eligible participants are automatically enrolled at a deferral rate of 3% unless they affirmatively elect not to participate. Auto-enrollment contributions are invested in a designed fund until changed by the participant. | 2024 audit report, p. 28 ↗ |
| Roth contributions | The Plan also allows participants to make after-tax Roth contributions. | 2024 audit report, p. 28 ↗ |
| Loans | Participants may borrow from their account a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. Participant loans will only be granted for financial hardships or other specific financial needs as outlined in the loan policy. Participants may only have one loan outstanding at any time. Loans are secured by the balance in the participant’s account. Loan terms may not exceed a maximum of 5 years unless used for the purchase of a primary residence. | 2024 audit report, p. 29 ↗ |
| Recordkeeper | Empower Annuity Insurance Company O | 2025 Schedule C ↗ |
| Independent auditor | Doeren Mayhew Assurance (unmodified opinion, limited scope) | 2025 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2025 Form 5500 ↗ |
Match, vesting and other plan features are from the plan year 2024 filing's audit report (the latest one extracted so far). Rows cited to the Form 5500 and its schedules are from the plan year 2025 filing.
How the plan compares
Plan year 2025 medians for 214 defined-contribution plans in finance and insurance with 1,000 to 4,999 participants.
| Desert Financial Credit Union: employer contribution per participant | $5,380 | |
| Peer median | $3,266 |
| Desert Financial Credit Union: average balance | $101,506 | |
| Peer median | $137,177 |
| Desert Financial Credit Union: admin expenses ÷ assets | 0.09% | |
| Peer median | 0.08% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $92.7M at the end of plan year 2021 to $164M at the end of plan year 2025.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2025 | 1,626 | $164M | $8.7M | $5,380 | 0.09% | Not published | Form 5500 ↗ |
| 2024 | 1,568 | $132M | $8M | $5,150 | 0.16% | Quoted in the audit report, p. 29 ↗ | Form 5500 ↗ |
| 2023 | 1,505 | $107M | $7.5M | $5,009 | 0.06% | Not published | Form 5500 ↗ |
| 2022 | 1,464 | $84.4M | $7M | $4,807 | 0.04% | Not published | Form 5500 ↗ |
| 2021 | 1,363 | $92.7M | $6.4M | $4,744 | 0.04% | Not published | Form 5500 ↗ |
Other Desert Financial Credit Union plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Desert Financial Credit Union Retirement Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Plan type and status | Pension (defined benefit) · Terminated (final filing) | Form 5500 ↗ |
Common questions
Does Desert Financial Credit Union match 401(k) contributions?
The audit report attached to the Desert Financial Credit Union 401(k) Profit Sharing Plan's plan year 2024 Form 5500, page 29 says: “The Credit Union annually makes a safe harbor matching contribution equal to 100% of participant contributions up to 3% of eligible compensation deferred to the Plan plus 50% of participant contributions between 3% and 5% of eligible compensation deferred to the Plan.” Plan terms may have changed; check your current Summary Plan Description.
When is the Desert Financial Credit Union 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 30 says: “Participants are immediately vested in their contributions and the safe harbor matching contributions, plus actual earnings thereon. Participants vest in the Credit Union’s nonelective contributions and the proportionate share of investment earnings at a rate of 20% for each year of credited service by the participant with 100% vesting after five years of credited services. Participants become fully vested upon death, disability, or attainment the age of 65 while employed by the Credit Union.”
Who manages the Desert Financial Credit Union 401(k)?
The recordkeeper listed on Schedule C of the plan year 2025 filing is Empower Annuity Insurance Company O. The plan administrator is Desert Financial Credit Union.
I left Desert Financial Credit Union. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Desert Financial Credit Union, (602) 335-6150) or the recordkeeper, Empower Annuity Insurance Company O. The Desert Financial Credit Union old 401(k) page lists the contacts from every plan filing. Find an old Desert Financial Credit Union 401(k)
Data from the public Form 5500 annual reports Desert Financial Credit Union filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024 and 2025) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Desert Financial Credit Union. Not financial advice. Report a correction · Methodology