# First Federal Bank 401(k) Plan
Source: https://planprovider.pro/companies/first-federal-bank-401k-plan-001-9721

> First Federal Bank's 401(k) plan: 560 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** First Federal Bank

- **Sponsor EIN:** 590969721

- **Sponsor Address:** PO BOX 2029, LAKE CITY, FL, 32056

- **Plan Type:** 401(k)

- **Total Participants:** 560

- **Total Assets:** $92.9M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** Yes

- **Participant-Directed Investments:** Yes

- **ERISA Section 404(c) Fiduciary Safe Harbor:** Yes

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|560|$92.9M|$3.4M|$4.1M|

| 2023|589|$84.8M|$3.4M|$3.9M|

| 2022|652|$72.9M|$3.8M|$4.6M|

## Service Providers (Schedule C)

Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).

| Provider Name|
Role|
Direct Compensation|
Indirect Compensation|
Total Fees|

| RAYMOND JAMES & ASSOCIATES INC|NONE|$323,003|—|$323,003|

| CAPITAL GROUP RETIREMENT PLAN SERVI|NONE|$46,045|—|$46,045|

| PASI, LLC|NONE|$45,407|—|$45,407|

| HACKER, JOHNSON & SMITH, PA|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [HACKER, JOHNSON & SMITH, PA](https://planprovider.pro/provider/hacker-johnson-and-smith-pa) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $414,455

- **Estimated Expense Ratio:** 0.446% of plan assets

### Historical Administrative Expenses

Breakdown of administrative expense categories reported on Form 5500 filings.

| Year|
Total Admin Expenses|
Investment Mgmt Fees|
Contract Admin Fees|
IQPA Audit Fees|
Professional Fees|

| 2024|$414,455|$323,003|$45,407|—|—|

| 2023|$373,942|$281,413|$45,067|—|—|

| 2022|$377,215|$284,498|$81,717|—|$11,000|

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