# First Watch Restaurants, INC. 401(k) Plan
Source: https://planprovider.pro/companies/first-watch-restaurants-inc-401k-plan

> First Watch Restaurants, INC.'s 401(k) plan: 16,478 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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|—|—|

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