Retirement plan

FIRST HAWAIIAN, INC. 401(K) SAVINGS PLAN

Name: FIRST HAWAIIAN, INC. HUMAN RESOURCES DIVISION - FIRST HAWAIIAN, INC. 401(K) SAVINGS PLAN (2016) 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 2016

PO BOX 3200 - HONOLULU, HI 96847808-525-8728LinkedIn1-10 employeesconsumer services

Other plans on this EIN

2 filings

#001Retirement-$109.5M assets #003Retirement-$82.4M assets

Prospect flagsLow returnsCorrective 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)

$288.8M

+283.5% from 2016

Total participants

2,910

+527.1% from 2016

Average account balance

$120,650

-39.7% from 2016

Annual return

-75.31%

+75.08 pp from 2016

Benchmarks

See 529 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort529 peers

Snapshot2016

Participant deferral / active EE

$30,839

median $4,775

Employer contribution / active EE

$18,682

median $2,709

Participation rate

77.0%

median 95.5%

Avg account balance

$120,650

median $67,054

Admin fee / account holder

$46

median $41

Annual return

-75.31%

median 8.90%

Overall peer rank

53of 100

53rd percentileavg across 6 metrics

Analytics

2015 - 2024

Total assets (EOY)

Plan-year ending balance

$455.78M

Average account balance

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

$164K

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

2,780

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

92.3%

Contributions (total)

Employer and participant dollars contributed each year

$20.88M

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+14.09%

Admin fee / account holder

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

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Mutual / pooled
Stocks
Bonds
Cash
Real estate
Loans

Service providers

Top 3 by compensation

Provider	Service type	Compensation
MERCER2+ years Filed as: MERCER HR SERVICES, LLC Service code 15 INVESTORS WAY · NORWOOD, MA 020621584	Recordkeeping	$714,620
MOSS ADAMS LLP2+ years Service code 10 PO BOX 748369 · LOS ANGELES, CA 90074	Accounting	$19,935
BUCK GLOBAL, LLC2+ years Filed as: BUCK CONSULTANTS LLC Service code 16 PO BOX 202617 · DALLAS, TX 75320	Consulting	$13,760

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H

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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$111K

$50 / participant

Other / not subdivided$111K100.0%

% of EOY assets

0.039%

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: MOSS ADAMS,LLP
Auditor EIN: 910189318
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$120,650

$80,354+50.1%

$133,975-9.9%

$63,975+88.6%

Participation rate

77.0%

87.5%-10.5pp

87.1%-10.1pp

71.1%+5.8pp

Annual return

-75.31%

13.11%-88.4pp

29.29%-104.6pp

48.65%-124.0pp

Employer contribution / active EE

$18,682

$3,503+433.3%

$5,211+258.5%

$2,182+756.3%

Participant deferral / active EE

$30,839

$5,239+488.7%

$6,282+390.9%

$3,356+818.8%

Admin fee / account holder

$46

$69-33.0%

$9,324-99.5%

$70-34.0%

Provider

Service type

Compensation

MERCER2+ years

Filed as: MERCER HR SERVICES, LLC

Service code 15

INVESTORS WAY · NORWOOD, MA 020621584

Recordkeeping

$714,620

MOSS ADAMS LLP2+ years

Service code 10

PO BOX 748369 · LOS ANGELES, CA 90074

Accounting

$19,935

BUCK GLOBAL, LLC2+ years

Filed as: BUCK CONSULTANTS LLC

Service code 16

PO BOX 202617 · DALLAS, TX 75320

Consulting

$13,760

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