Plan Ledger DOL Form 5500 · updated monthly

Alabama Housing Finance AuthorityMoney purchase plan

ALABAMA HOUSING FINANCE AUTHORITY RETIREMENT PLAN · MONTGOMERY, AL · plan year 2024

Employer contribution per participant · 2024
$5,401

Alabama Housing Finance Authority's 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $20,583,006 across 171 participant accounts, with employer contributions averaging $5,401 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other finance & insurance employers. By assets it is the 305th-largest of 902 plans among Alabama employers on file, and 3,005th of 4,798 in finance & insurance. In 2024, the employer put in $1.40 for every $1.00 employees contributed themselves; active participation has grown from 134 to 152 since 2022.

Plan summary
Net assets, end of year$20,583,006
Participants with balances171
Active participants152
Employer contributions$820,950
Employee contributions$586,393
Employer contribution per active participant$5,401
Average account balance$120,368
Benefits paid to participants$1,778,053
Plan auditUnmodified (clean) audit opinion
Plan history3
Yearassets · accounts · employer contribution
2024$20.6M · 171 accts · $821K emplr
2023$18.7M · 158 accts · $776K emplr
2022$15.0M · 157 accts · $731K emplr
Employer contributions to the Alabama Housing Finance Authority plan · 2024
Employer contribution per active participant$5,401
Median for plans this size$2,416
2024$5,401 per active participant
2023$5,834 per active participant
2022$5,459 per active participant

Alabama Housing Finance Authority's 2024 employer contribution ran above the $2,416 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Administrative cost history3
2024Not separately reported
2023Not separately reported
2022Not separately reported
Same employer
Similar plansFinance & Insurance · Alabama
Metro Bank AL$22.6M · 0.35%
First US Bancshares, Inc. AL$21.5M · 0.44%
Oakworth Capital Bank AL$20.9M · 0.24%
Alabama One Credit Union AL$16.8M · 0.50%
Listerhill Credit Union AL$16.3M · 0.20%

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Source: U.S. Department of Labor, Form 5500 series, EIN 630980480 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.