First Watch Restaurants 401(k) match, vesting and fees
What First Watch Restaurants' 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 | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Skibbie Cpa Inc (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 166 defined-contribution plans in accommodation and food services with 1,000 to 4,999 participants.
| First Watch Restaurants: employer contribution per participant | $1,080 | |
| Peer median | $785 |
| First Watch Restaurants: average balance | $22,658 | |
| Peer median | $30,242 |
| First Watch Restaurants: admin expenses ÷ assets | 0.52% | |
| Peer median | 0.37% |
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 $30.1M at the end of plan year 2023 to $38.5M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 16,771 | $38.5M | $1.8M | $1,080 | 0.52% | Not published | Form 5500 ↗ |
| 2023 | 14,257 | $30.1M | $832K | $628 | 0.47% | Not published | Form 5500 ↗ |
Common questions
Does First Watch Restaurants match 401(k) contributions?
The match terms for the First Watch 401(k) Savings Plan have not been published from its filing yet. The plan year 2024 filing reports $1.8M in employer contributions, about $1,080 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the First Watch Restaurants 401(k) match vested?
The vesting schedule for the First Watch 401(k) Savings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the First Watch Restaurants 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is First Watch Restaurants, Inc..
I left First Watch Restaurants. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (First Watch Restaurants, Inc., (941) 907-9800) or the recordkeeper, Principal Life Insurance Company. The First Watch Restaurants old 401(k) page lists the contacts from every plan filing. Find an old First Watch Restaurants 401(k)
Data from the public Form 5500 annual reports First Watch Restaurants filed with the U.S. Department of Labor (plan years 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 Watch Restaurants. Not financial advice. Report a correction · Methodology