First Rate 401(k) match, vesting and fees
What First Rate's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Newport Group, Inc. | 2023 Schedule C ↗ |
| Independent auditor | Sutton Frost Cary LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
The recordkeeper is from the plan year 2023 filing, the latest that names one. The other rows are from the plan year 2024 filing.
How the plan compares
Plan year 2024 medians for 9,213 defined-contribution plans in professional, scientific, and technical services with 100 to 499 participants.
| First Rate: employer contribution per participant | $9,813 | |
| Peer median | $2,521 |
| First Rate: average balance | $272,257 | |
| Peer median | $75,833 |
| First Rate: admin expenses ÷ assets | <0.01% | |
| Peer median | 0.27% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $31.5M at the end of plan year 2021 to $31.9M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 126 | $31.9M | $1.1M | $9,813 | <0.01% | Not published | Form 5500 ↗ |
| 2023 | 119 | $28.9M | $1.1M | $9,133 | 0.04% | Not published | Form 5500 ↗ |
| 2022 | 107 | $25.8M | $989K | $9,419 | <0.01% | Not published | Form 5500 ↗ |
| 2021 | 111 | $31.5M | $923K | $8,788 | <0.01% | Not published | Form 5500 ↗ |
Common questions
Does First Rate match 401(k) contributions?
The match terms for the First Rate, Inc. Profit Sharing Plan (With 401(k) Safe Harbor Provisions) have not been published from its filing yet. The plan year 2024 filing reports $1.1M in employer contributions, about $9,813 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the First Rate 401(k) match vested?
The vesting schedule for the First Rate, Inc. Profit Sharing Plan (With 401(k) Safe Harbor Provisions) is not in the data published so far. Your Summary Plan Description states it.
Who manages the First Rate 401(k)?
The recordkeeper listed on Schedule C of the plan year 2023 filing is Newport Group, Inc.. The plan administrator is First Rate, Inc..
I left First Rate. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (First Rate, Inc., (817) 525-1900) or the recordkeeper, Newport Group, Inc.. The First Rate old 401(k) page lists the contacts from every plan filing. Find an old First Rate 401(k)
Data from the public Form 5500 annual reports First Rate filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with First Rate. Not financial advice. Report a correction · Methodology