First Bank 401(k) Review & Grade
First Bank 401(k) Plan
Creve Coeur, MOFinance & Insurance978 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,019Employer $ per active participant
$6,255Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$191.9MNet plan assets, end of year
$126,079Average balance per account
Score breakdown
- Employer generosity19.7 / 5039th percentile for employer $ per participant
- Low cost24.2 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving5.9 / 1539th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score47 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 97th |
| Employee saving | 39th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($97,332 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- First Bank put in about $3,019 per active participant, below the typical peer ($3,606). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $2,952,466 |
| Participant (employee) contributions | $6,117,795 |
| Other contributions (incl. rollovers in) | $1,111,379 |
| Administrative expenses paid from the plan | $25,539 |
| Investment advisory & management fees | $4,453 |
| Benefits paid out | $25,779,547 |
| Net assets, start / end of year | $184.5M / $191.9M |
| Active participants, start / end of year | 1,007 / 949 |
| Participants with account balances | 1,522 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Armanino LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $21,086 reported compensation |
| Empower Advisory Group, LLC | $4,453 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251124101150NAL0001742769001, received 2025-11-24, EIN 43-0231490, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.