Retirement plan

FIRST WESTERN 401(K) PLAN

Name: FIRST WESTERN FINANCIAL, INC. - FIRST WESTERN 401(K) PLAN (2017) Form 5500
Creator: FIRST WESTERN FINANCIAL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST WESTERN 401(K) PLAN, FIRST WESTERN FINANCIAL, INC.

FIRST WESTERN FINANCIAL, INC.EIN 37-1442266Plan #001PY 2017

1900 16TH STREET SUITE 1200 - DENVER, CO 802025251303-531-8134

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$16.4M

+24.5% from 2016

Total participants

327

+16.4% from 2016

Average account balance

$51,366

+8.9% from 2016

Annual return

22.41%

+8.35 pp from 2016

Benchmarks

See 1,453 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,453 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$33.87M

Not enough data

1 years with asset history on file

Average account balance

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

$85K

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.

399

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.

98.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.97M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+15.55%

Not enough data

1 years with return on file

Admin fee / account holder

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

$185

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 2 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290	Contract Administrator	$38,074
FIRST WESTERN FINCL INC1 year Service code 10 · EIN 37-1442266	Accounting	$8,281

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.

Opportunity flags

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$46K

$181 / participant

Contract admin$38K82.1%
Other / not subdivided$8K17.9%

% of EOY assets

0.283%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: WIPFLI, LLP
Auditor EIN: 390758449
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$51,366

$81,537-37.0%

$149,716-65.7%

$69,631-26.2%

Participation rate

96.9%

86.1%+10.8pp

87.1%+9.8pp

70.7%+26.2pp

Annual return

22.41%

22.79%-0.4pp

1501.67%-1479.3pp

27571.02%-27548.6pp

Employer contribution / active EE

$2,252

$3,239-30.5%

$5,444-58.6%

$2,032+10.8%

Participant deferral / active EE

$7,056

$4,994+41.3%

$6,568+7.4%

$3,224+118.9%

Admin fee / account holder

$145

$107+36.0%

$11,282-98.7%

$110+31.6%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$38,074

FIRST WESTERN FINCL INC1 year

Service code 10 · EIN 37-1442266

Accounting

$8,281

FIRST WESTERN 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST WESTERN 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