Retirement plan

FIRST HAWAIIAN, INC. 401(K) SAVINGS PLAN

Name: FIRST HAWAIIAN, INC. HUMAN RESOURCES DIVISION - FIRST HAWAIIAN, INC. 401(K) SAVINGS PLAN (2024) Form 5500
Creator: FIRST HAWAIIAN, INC. HUMAN RESOURCES DIVISION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST HAWAIIAN, INC. 401(K) SAVINGS PLAN, FIRST HAWAIIAN, INC. HUMAN RESOURCES DIVISION

FIRST HAWAIIAN, INC. HUMAN RESOURCES DIVISIONEIN 99-0156159Plan #002PY 2024

P.O.BOX 3200 - HONOLULU, HI 96847808-525-8728LinkedIn1-10 employeesconsumer services

Other plans on this EIN

2 filings

#003Retirement-$126.7M assets #001Retirement-$73.4M assets

Prospect flagsFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed April 18, 2017 (most recent of 5 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

999 Bishop St., 8th Fl.

Honolulu State: HI Zip Code: 96813

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Plans declared (5)

First Hawaiian, Inc. Supplemental Executive Retirement Plan, Part A73 emp
First Hawaiian, Inc. Supplemental Executive Retirement Plan, Part B34 emp
First Hawaiian, Inc. Deferred Compensation Plan, Part A29 emp
First Hawaiian, Inc. Deferred Compensation Plan, Part B53 emp
First Hawaiian Bank Deferred Compensation Plan85 emp

Total covered: 274 employees

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Total assets (EOY)

$455.8M

+8.7% from 2023

Total participants

2,934

-2.7% from 2023

Average account balance

$163,949

+9.3% from 2023

Annual return

14.09%

-3.39 pp from 2023

Benchmarks

See 610 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort610 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$455.78M

Not enough data

1 years with asset history on file

Average account balance

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

$164K

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.

2,780

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.

92.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$20.88M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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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 codes2E2F2G2J2K2T

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.

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

Plan-level admin expenses are zero - fees are likely paid at the master-trust level rather than the individual plan.

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$163,949

$122,693+33.6%

$184,203-11.0%

$199,593-17.9%

Participation rate

92.3%

86.8%+5.6pp

86.8%+5.5pp

72.0%+20.4pp

Annual return

14.09%

143.91%-129.8pp

28.81%-14.7pp

34.25%-20.2pp

Employer contribution / active EE

$3,328

$4,584-27.4%

$6,427-48.2%

$3,034+9.7%

Participant deferral / active EE

$7,048

$7,990-11.8%

$9,131-22.8%

$5,087+38.5%

Admin fee / account holder

$121-100.0%

$13,901-100.0%

$269-100.0%

FIRST HAWAIIAN, INC. 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (5)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST HAWAIIAN, INC. 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (5)

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