Retirement plan

FIRST 401(K) PLAN

Name: FIRST PROTOCOL, INC. - FIRST 401(K) PLAN (2024) Form 5500
Creator: FIRST PROTOCOL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST 401(K) PLAN, FIRST PROTOCOL, INC.

FIRST PROTOCOL, INC.EIN 20-1231125Plan #001PY 2024

630 9TH AVE., SUITE 310 - NEW YORK, NY 10036212-810-4100

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$27.6M

+28.7% from 2023

Total participants

567

-9.1% from 2023

Average account balance

$48,738

+35.5% from 2023

Annual return

16.37%

-7.54 pp from 2023

Benchmarks

See 836 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants250-999

Cohort836 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$27.59M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$49K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

566

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

99.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.20M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+16.37%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$234

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY7 years Service code 13 · EIN 42-0127290	Contract Administrator	$123,778
AURORA PRIVATE WEALTH INC4 years Filed as: AURORA PRIVATE WEALTH, INC. Service code 27 · EIN 47-4814591	Advisory (Plan)	$40,848
ABG PORTFOLIO STRATEGIES, INC.1 year Filed as: ALERA INVESTMENT ADVISORS, LLC Service code 27 · EIN 82-1301701	Advisory (Plan)	$27,565
ASCENSUS LLC1 year Filed as: DWC ERISA CONSULTANTS LLC Service code 13 · EIN 26-2091417	Contract Administrator	$12,974
ASSOCIATED PENSION CONSULTANTS5 years Service code 13 · EIN 11-3271022	Contract Administrator	$7,423

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
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 contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$132K

$269 / participant

Contract admin$132K100.0%

% of EOY assets

0.480%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDO USA, P.C.
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$48,738

$45,031+8.2%

$85,009-42.7%

$77,671-37.3%

Participation rate

99.8%

48.7%+51.1pp

67.5%+32.3pp

70.6%+29.2pp

Annual return

16.37%

79.22%-62.8pp

66.47%-50.1pp

31.21%-14.8pp

Employer contribution / active EE

$2,863

$1,609+77.9%

$2,728+4.9%

$2,726+5.0%

Participant deferral / active EE

$5,689

$2,807+102.6%

$4,522+25.8%

$4,648+22.4%

Admin fee / account holder

$234

$912-74.4%

$6,153-96.2%

$430-45.7%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY7 years

Service code 13 · EIN 42-0127290

Contract Administrator

$123,778

AURORA PRIVATE WEALTH INC4 years

Filed as: AURORA PRIVATE WEALTH, INC.

Service code 27 · EIN 47-4814591

Advisory (Plan)

$40,848

ABG PORTFOLIO STRATEGIES, INC.1 year

Filed as: ALERA INVESTMENT ADVISORS, LLC

Service code 27 · EIN 82-1301701

Advisory (Plan)

$27,565

ASCENSUS LLC1 year

Filed as: DWC ERISA CONSULTANTS LLC

Service code 13 · EIN 26-2091417

Contract Administrator

$12,974

ASSOCIATED PENSION CONSULTANTS5 years

Service code 13 · EIN 11-3271022

Contract Administrator

$7,423

FIRST 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion