Plan Snapshot
- Plan Sponsor: First Watch Restaurants, INC.
- Sponsor EIN: 650543723
- Sponsor Address: 8725 PENDERY PLACE, BRADENTON, FL, 342012140
- Plan Type: 401(k)
- Total Participants: 16,478
- Total Assets: $38.5M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- 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 | 16,478 | $38.5M | $1.8M | $5.4M |
| 2023 | 13,959 | $30.1M | $832,361 | $4.1M |
| 2022 | 4,535 | $25.4M | $572,442 | $3.1M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $145,274 | — | $145,274 |
| MERRILL LYNCH PIERCE FENNER & SMITH | CONSULTANT | $33,952 | $48 | $34,000 |
| SKIBBIE CPA INC | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $179,274
- Estimated Expense Ratio: 0.465% 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 | $179,226 | $16,976 | $145,274 | — | — |
| 2023 | $130,737 | $8,477 | $113,783 | — | — |
| 2022 | $13,000 | — | $13,000 | — | — |