Retirement plan

FIRST ENERGY SERVICE, INC. 401(K) PLAN

Name: FIRST ENERGY SERVICE, INC. - FIRST ENERGY SERVICE, INC. 401(K) PLAN (2023) Form 5500
Creator: FIRST ENERGY SERVICE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST ENERGY SERVICE, INC. 401(K) PLAN, FIRST ENERGY SERVICE, INC.

FIRST ENERGY SERVICE, INC.EIN 22-3444955Plan #001PY 2023

1031 CARRIER PARKWAY AVENUE - BAKERSFIELD, CA 93308661-387-1972firstenergyservice.comLinkedIn11-50 employeesoil & energy

Prospect flagsLow returnsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$568K

-10.8% from 2022

Total participants

-20.0% from 2022

Average account balance

$28,399

+11.6% from 2022

Annual return

2.51%

+18.68 pp from 2022

Benchmarks

See 1,613 peers

Peer group

Industry21 - Mining, Quarrying, and Oil and Gas Extraction

Plan typeDefined contribution

Participants<25

Cohort1,613 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$619K

Not enough data

1 years with asset history on file

Average account balance

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

$36K

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.

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.

154.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$531

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

+16.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$986

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J2R3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$149K

$11459 / participant

Other / not subdivided$149K100.0%

% of EOY assets

26.227%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,399

$192,737-85.3%

$142,460-80.1%

$139,456-79.6%

Participation rate

100.0%

81.5%+18.5pp

76.8%+23.2pp

80.3%+19.7pp

Annual return

2.51%

17.99%-15.5pp

19.99%-17.5pp

373.45%-370.9pp

Employer contribution / active EE

$2,985

$5,806-48.6%

$4,847-38.4%

$4,753-37.2%

Participant deferral / active EE

$1,888

$7,208-73.8%

$6,283-70.0%

$6,711-71.9%

Admin fee / account holder

$7,448

$15,125-50.8%

$10,011-25.6%

$11,407-34.7%

FIRST ENERGY SERVICE, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST ENERGY SERVICE, INC. 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