Department of Labor filing

FIRST SOURCE EMPLOYEE MANAGEME

FIRST SOURCE EMPLOYEE MANAGEMENT RETIREMENT PLAN · For the plan year ended Dec 31, 2023

Public filing 2023 · received Jul 18, 2024Verified current terms Not available

Plan at a glance

How good does the filing look?

66filing comparison
out of 100

The filing looks somewhat better than typical peers on the measures we can compare. This is a filing comparison, not a complete benefits score.

$Employer support

$199

Reported employer contributions per active participant.

Higher than about 58% of comparable plans

#People in the filing

6,336

Active participants reported for 2023.

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

¢Visible plan-paid fees

$13 / participant

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

Lower cost than about 83% of comparable plans

↗Investment performance

Not available

Plan assets changed 16.8%, 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 · 202366out of 100 among similar-size plans in the same industry when enough peers exist

How this filing compares

Reported employer contributions58th percentileTypical peer $157 · based on 96 comparable plans

Lower reported administrative expense83rd percentileTypical peer $33 · based on 113 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, 2023, FIRST SOURCE EMPLOYEE MANAGEME reported $1,258,382 in employer contributions across the plan and 6,336 active participants. That works out to $199 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 proxy91%

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 5.2%

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

Expense trendDown 68.0%

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

Peer context66/100

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: $1,258,382
Participant contributions: $5,922,232
Other contributions: $336,174
Employer share of reported contributions: 17.5%
Beginning assets: $55,145,486
Ending assets: $64,433,622
Ending net assets: $64,433,622
Ending liabilities: $0
Total income: $15,554,885
Total expenses: $6,266,749
Administrative expenses: $97,636
Participant loans: $1,658,011

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

$209

2023

$199

Plan-paid administrative expenses per participant

2022

$40

2023

$13

Active participants

2022

5,608

2023

6,336

Detailed filing history
Plan year	Per active participant	Active participants	Plan assets	Filing ID
2023	$199	6,336	64.4M	20240718091335NAL0005305105001
2022	$209	5,608	55.1M	20231011141606NAL0029647809001

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: 2.6%
Independent accountant’s opinion: Unqualified opinion Code 1
Late participant contributions reported: Not stated in the filing
Public plan identifier: 272037178-001

Reported plan details

Identity and filing status

Plan type: Retirement plan
Employer arrangement: Single-employer plan
Plan effective date: Sep 1, 2006
Industry: Health care and social assistance
Amended filing: No
Final filing for this plan: No
Short plan year: No
401(k) feature reported: Yes
Show DOL characteristic codes
2E2J2F2G2K3D3H2T

Current plan terms

Help fill the gap the filing leaves.

If you have a current SPD, fee disclosure, or enrollment guide, you can share it with us. We check the source and date before adding anything to the profile.

Share a document →

Filing ACK_ID20240718091335NAL0005305105001

Data sourceDOL Form 5500 bulk data ↗

Filing searchEFAST2 ↗