Retirement plan

FIRST RATE, INC. PROFIT SHARING PLAN (WITH 401(K) SAFE HARBOR PROVISIONS)

Name: FIRST RATE, INC. - FIRST RATE, INC. PROFIT SHARING PLAN (WITH 401(K) SAFE HARBOR PROVISIONS) (2020) Form 5500
Creator: FIRST RATE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST RATE, INC. PROFIT SHARING PLAN (WITH 401(K) SAFE HARBOR PROVISIONS), FIRST RATE, INC.

FIRST RATE, INC.EIN 75-2391523Plan #001PY 2020

1903 ASCENSION BLVD - ARLINGTON, TX 76006817-525-1900firstrate.comLinkedIn51-200 employeescomputer software

Prospect flagsHigh assets / participant

How to read this page

Total assets (EOY)

$29.9M

+13.6% from 2019

Total participants

107

+0.9% from 2019

Average account balance

$293,177

+15.8% from 2019

Annual return

12.54%

-6.57 pp from 2019

Benchmarks

See 26,426 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort26,426 peers

Snapshot2020

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$31.85M

Not enough data

1 years with asset history on file

Average account balance

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

$272K

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.

117

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.

90.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.99M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$22K

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

+13.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$25

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 1 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.2 years Service code 13 · EIN 27-2037969	Contract Administrator	$1,895

Plan features & details

Pension benefit codes2E2F2H2I2J2K2O2Q2T3I3D

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2I
Stock bonus
Stock bonus plan.
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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
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.
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

1 tripped

InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$2K

$22 / participant

Contract admin$2K100.0%

% of EOY assets

0.006%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: SUTTON FROST CARY LLP
Auditor EIN: 752593210
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$293,177

$98,750+196.9%

$149,696+95.8%

$79,858+267.1%

Participation rate

94.1%

75.8%+18.3pp

82.5%+11.6pp

69.6%+24.5pp

Annual return

12.54%

27.43%-14.9pp

276.60%-264.1pp

31.71%-19.2pp

Employer contribution / active EE

$13,326

$3,216+314.3%

$4,644+186.9%

$2,471+439.3%

Participant deferral / active EE

$8,806

$5,680+55.0%

$6,842+28.7%

$3,740+135.4%

Admin fee / account holder

$19

$6,053-99.7%

$9,309-99.8%

$5,306-99.6%

Provider

Service type

Compensation

NEWPORT GROUP, INC.2 years

Service code 13 · EIN 27-2037969

Contract Administrator

$1,895

FIRST RATE, INC. PROFIT SHARING PLAN (WITH 401(K) SAFE HARBOR PROVISIONS)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST RATE, INC. PROFIT SHARING PLAN (WITH 401(K) SAFE HARBOR PROVISIONS)

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