Retirement plan

FIRST STUDENT AND FIRST TRANSIT RETIREMENT SAVINGS PLAN

Name: FIRSTGROUP AMERICA, INC. - FIRST STUDENT AND FIRST TRANSIT RETIREMENT SAVINGS PLAN (2022) Form 5500
Creator: FIRSTGROUP AMERICA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST STUDENT AND FIRST TRANSIT RETIREMENT SAVINGS PLAN, FIRSTGROUP AMERICA, INC.

FIRSTGROUP AMERICA, INC.EIN 52-2205403Plan #002PY 2022

191 ROSA PARKS ST FL 8 - CINCINNATI, OH 452022573833-543-1965

Other plans on this EIN

1 filing

#001Retirement-$79.5M assets

Prospect flagsLow participationLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$308.4M

-5.0% from 2016

Total participants

55,243

-0.3% from 2016

Average account balance

$27,176

-6.2% from 2016

Annual return

-12.32%

-9.64 pp from 2016

Benchmarks

See 51 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants>=10,000

Cohort51 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$328.17M

Not enough data

1 years with asset history on file

Average account balance

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

$29K

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.

11,465

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.

18.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$32.53M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$654

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

+14.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$82

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 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY2 years Service code 13 · EIN 42-0127290	Contract Administrator	$746,812
CAP FINANCIAL PARTNERS, LLC1 year Filed as: CAP FINANCIAL PARTNERS, Service code 27 · EIN 26-0058143	Advisory (Plan)	$49,050
PLANTE & MORAN, PLLC1 year Filed as: PLANTE & MORAN PLLC Service code 10 · EIN 38-1357951	Accounting	$38,000

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T

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

Opportunity flags

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
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

$671K

$13 / participant

Investment mgmt$73K10.8%
Contract admin$517K77.1%
Other / not subdivided$81K12.1%

% of EOY assets

0.218%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PLANTE & MORAN, PLLC
Auditor EIN: 381357951
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$27,176

$96,461-71.8%

$68,815-60.5%

$89,433-69.6%

Participation rate

16.7%

64.2%-47.4pp

69.0%-52.3pp

71.3%-54.5pp

Annual return

-12.32%

-13.05%+0.7pp

-6.37%-6.0pp

-11.88%-0.4pp

Employer contribution / active EE

$146

$3,671-96.0%

$2,656-94.5%

$3,021-95.2%

Participant deferral / active EE

$574

$4,123-86.1%

$3,943-85.5%

$5,125-88.8%

Admin fee / account holder

$59

$102-41.9%

$4,936-98.8%

$79-25.5%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY2 years

Service code 13 · EIN 42-0127290

Contract Administrator

$746,812

CAP FINANCIAL PARTNERS, LLC1 year

Filed as: CAP FINANCIAL PARTNERS,

Service code 27 · EIN 26-0058143

Advisory (Plan)

$49,050

PLANTE & MORAN, PLLC1 year

Filed as: PLANTE & MORAN PLLC

Service code 10 · EIN 38-1357951

Accounting

$38,000

FIRST STUDENT AND FIRST TRANSIT RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST STUDENT AND FIRST TRANSIT RETIREMENT SAVINGS 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