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) (2021) 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 2021

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

Prospect flagsLow returnsHigh assets / participant

How to read this page

Total assets (EOY)

$31.5M

+5.3% from 2020

Total participants

111

+3.7% from 2020

Average account balance

$299,786

+2.3% from 2020

Annual return

12.18%

-0.36 pp from 2020

Benchmarks

See 27,004 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort27,004 peers

Snapshot2021

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

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

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 codes2E2F2H2J2T3D

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.
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.
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

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$2K

$30 / participant

Contract admin$2K100.0%

% of EOY assets

0.007%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$299,786

$105,200+185.0%

$159,474+88.0%

$85,847+249.2%

Participation rate

91.9%

75.8%+16.1pp

82.8%+9.1pp

69.3%+22.6pp

Annual return

12.18%

45.08%-32.9pp

263.68%-251.5pp

318.61%-306.4pp

Employer contribution / active EE

$12,469

$3,319+275.7%

$4,831+158.1%

$2,565+386.1%

Participant deferral / active EE

$9,674

$5,946+62.7%

$7,353+31.6%

$3,952+144.8%

Admin fee / account holder

$21

$6,934-99.7%

$10,802-99.8%

$6,261-99.7%

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