Retirement plan

FIRST STEP 401(K) RETIREMENT SAVINGS PLAN & TRUST

Name: FIRST STEP, INC. - FIRST STEP 401(K) RETIREMENT SAVINGS PLAN & TRUST (2020) Form 5500
Creator: FIRST STEP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST STEP 401(K) RETIREMENT SAVINGS PLAN & TRUST, FIRST STEP, INC.

FIRST STEP, INC.EIN 71-0307372Plan #001PY 2020

PO BOX 2440 - HOT SPRINGS, AR 71914501-609-9338

Other plans on this EIN

1 filing

#002Retirement--

Prospect flagsLow participation

Top hat statement on fileNQDC

Filed September 30, 2024 (most recent of 2 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

PO Box 2440

Hot Springs, AR 71914

Email— Sign in and upgrade to view Phone— Sign in and upgrade to view

Plans declared (1)

First Steps 457(f) Plan1 emp

Open the filing PDF

How to read this page

Total assets (EOY)

$13.1M

-5.7% from 2019

Total participants

775

-2.9% from 2019

Average account balance

$29,458

-1.4% from 2019

Annual return

11.69%

-6.16 pp from 2019

Benchmarks

See 3,872 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants250-999

Cohort3,872 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$14.16M

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.

392

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.

57.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.45M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+7.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$269

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
FIDELITY INVESTMENTS INSTITUTIONAL6+ years Service code 37 · EIN 04-2647786	Loan Processing	$52,929
PRIME CAPITAL INVESTMENT ADVISORS4 years Service code 27 · EIN 82-1364595	Advisory (Plan)	$32,342

Plan features & details

Pension benefit codes2F2G2J2K2T2E3D

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.

Opportunity flags

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$85K

$125 / participant

Other / not subdivided$85K100.0%

% of EOY assets

0.652%

all-in expense ratio

Categories reported

0 / 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: BANKS CPA, PLLC
Auditor EIN: 208153372
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$29,458

$52,293-43.7%

$178,503-83.5%

$73,412-59.9%

Participation rate

51.4%

65.3%-13.9pp

81.9%-30.5pp

72.2%-20.8pp

Annual return

11.69%

34.75%-23.1pp

151.12%-139.4pp

59.30%-47.6pp

Employer contribution / active EE

$803

$1,736-53.8%

$5,011-84.0%

$2,234-64.1%

Participant deferral / active EE

$1,010

$2,333-56.7%

$5,202-80.6%

$3,806-73.5%

Admin fee / account holder

$192

$127+50.8%

$13,987-98.6%

$158+21.6%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL6+ years

Service code 37 · EIN 04-2647786

Loan Processing

$52,929

PRIME CAPITAL INVESTMENT ADVISORS4 years

Service code 27 · EIN 82-1364595

Advisory (Plan)

$32,342

FIRST STEP 401(K) RETIREMENT SAVINGS PLAN & TRUST

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST STEP 401(K) RETIREMENT SAVINGS PLAN & TRUST

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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