Department of Labor filing

FIRST RATE, INC.

FIRST RATE, INC. PROFIT SHARING PLAN (WITH 401(K) SAFE HARBOR PROVISIONS) · For the plan year ended Dec 31, 2024

Public filing 2024 · received Oct 9, 2025Verified current terms Not available

Plan at a glance

How good does the filing look?

91filing comparison
out of 100

The filing signals stronger employer support and/or lower plan-paid administrative costs than many comparable plans. This is a filing comparison, not a complete benefits score.

$Employer support

$12,617

Reported employer contributions per active participant.

Higher than about 93% of comparable plans

#People in the filing

Active participants reported for 2024.

The filing does not say how many employees are currently contributing.

¢Visible plan-paid fees

$24 / participant

Reported administrative expense—not every fee an employee may pay.

Lower cost than about 87% of comparable plans

↗Investment performance

Not available

Plan assets changed 10.1%, but that includes contributions, withdrawals, and market movement.

Asset change is not investment performance.

What we still need to judge the benefit

Current match formula, vesting, eligibility, investment choices, fund expense ratios, and employee-level fees.

See missing terms ↓

Filing comparison · 202491out of 100 among similar-size plans in the same industry when enough peers exist

How this filing compares

Reported employer contributions93rd percentileTypical peer $3,462 · based on 1,271 comparable plans

Lower reported administrative expense87th percentileTypical peer $184 · based on 1,343 comparable plans

This comparison uses historical filing figures. It does not compare current match formulas, vesting, investments, or employee fees.

The short version

What the latest filing tells us

For the plan year ended Dec 31, 2024, FIRST RATE, INC. reported $1,148,141 in employer contributions across the plan and 91 active participants. That works out to $12,617 per active participant. It is useful context, but it is not the current match formula and it does not show what any one employee received.

Participation proxy72%

Active participants divided by all end-of-year plan participants. This is not the company participation rate because the filing does not report every eligible employee.

Employer money trendDown 13.2%

Change in reported employer contribution per active participant across the filing history shown.

Expense trendUp 59.7%

Change in reported administrative expense per participant. Investment expenses may not be included.

Peer context91/100

A filing comparison among similar-size plans in the same industry when enough peers exist.

Where the public filing stops

Current match, vesting, eligibility, employee fees, and investment choices require a dated plan document. Until we have one, those details stay blank.

Latest financial record

Contributions, assets, and expenses

These figures are reported totals for the plan—not individual account balances or promises to any employee.

Employer contributions: $1,148,141
Participant contributions: $842,490
Other contributions: $449,812
Employer share of reported contributions: 57.7%
Beginning assets: $28,941,956
Ending assets: $31,854,073
Ending net assets: $31,854,073
Ending liabilities: $0
Total income: $5,825,521
Total expenses: $2,913,404
Administrative expenses: $2,980
Participant loans: $353,354

Three-year filing history

How the reported figures changed

Each chart uses its own scale and starts at zero. When the filing has no value, the chart says so rather than turning it into a zero.

Employer contributions reported per active participant

2022

$14,544

2023

$13,699

2024

$12,617

Plan-paid administrative expenses per participant

2022

$15

2023

$95

2024

$24

Active participants

2022

2023

2024

Detailed filing history
Plan year	Per active participant	Active participants	Plan assets	Filing ID
2024	$12,617	91	31.9M	20251009110517NAL0006489249001
2023	$13,699	78	28.9M	20241014163228NAL0045317792001
2022	$14,544	68	25.8M	20231011134216NAL0040169440001

Changes in plan assets are not the same as investment performance. Each row uses the selected public filing for that year.

Plan operations

Details worth knowing

Participant loans as a share of plan assets: 1.1%
Independent accountant’s opinion: Unqualified opinion Code 1
Late participant contributions reported: Not stated in the filing
Public plan identifier: 752391523-001

Reported plan details

Identity and filing status

Plan type: Retirement plan
Employer arrangement: Single-employer plan
Plan effective date: Jan 1, 2002
Industry: Professional, scientific, and technical services
Amended filing: No
Final filing for this plan: No
Short plan year: No
401(k) feature reported: Yes
Show DOL characteristic codes
2E2F2H2J2T3D3F

Current plan terms

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Filing ACK_ID20251009110517NAL0006489249001

Data sourceDOL Form 5500 bulk data ↗

Filing searchEFAST2 ↗