Retirement plan

FIRST 401(K) PLAN

Name: FIRST PROTOCOL, INC. - FIRST 401(K) PLAN (2023) 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 2023

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

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$21.4M

+42.1% from 2022

Total participants

624

+2.6% from 2022

Average account balance

$35,962

+40.9% from 2022

Annual return

23.90%

+40.54 pp from 2022

Benchmarks

See 822 peers

Peer group

Industry56 - Administrative and Support and Waste Management and Remediation Services

Plan typeDefined contribution

Participants250-999

Cohort822 peers

Snapshot2023

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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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY6 years Service code 13 · EIN 42-0127290	Contract Administrator	$98,731
AURORA PRIVATE WEALTH INC3 years Filed as: AURORA PRIVATE WEALTH, INC. Service code 27 · EIN 47-4814591	Advisory (Plan)	$41,868
ASSOCIATED PENSION CONSULTANTS4 years Filed as: ASSOCIATED PENSION CONSULTANTS, INC Service code 13 · EIN 11-3271022	Contract Administrator	$13,361

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.

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

$104K

$223 / participant

Contract admin$104K100.0%

% of EOY assets

0.483%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

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

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$35,962

$40,385-11.0%

$80,569-55.4%

$74,419-51.7%

Participation rate

94.0%

47.4%+46.6pp

67.0%+27.0pp

70.7%+23.2pp

Annual return

23.90%

164.85%-140.9pp

935.43%-911.5pp

34.38%-10.5pp

Employer contribution / active EE

$3,355

$1,496+124.3%

$2,723+23.2%

$2,637+27.2%

Participant deferral / active EE

$5,700

$2,674+113.2%

$4,447+28.2%

$4,528+25.9%

Admin fee / account holder

$174

$720-75.9%

$5,377-96.8%

$348-50.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY6 years

Service code 13 · EIN 42-0127290

Contract Administrator

$98,731

AURORA PRIVATE WEALTH INC3 years

Filed as: AURORA PRIVATE WEALTH, INC.

Service code 27 · EIN 47-4814591

Advisory (Plan)

$41,868

ASSOCIATED PENSION CONSULTANTS4 years

Filed as: ASSOCIATED PENSION CONSULTANTS, INC

Service code 13 · EIN 11-3271022

Contract Administrator

$13,361

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