First Acceptance Corporation 401(k) Review & Grade
First Acceptance Corporation 401(k) Plan
Nashville, TNFinance & Insurance632 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,959Employer $ per active participant
$3,903Employee $ saved per active participant
0.43%Direct admin cost, % of plan assets
$37.4MNet plan assets, end of year
$62,002Average balance per account
Score breakdown
- Employer generosity10.0 / 5020th percentile for employer $ per participant
- Low cost7.0 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving1.8 / 1512th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 28th |
| Employee saving | 12th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- First Acceptance put in about $1,959 per active participant, below the typical peer ($3,606). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.43% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $1,239,357 |
| Participant (employee) contributions | $2,468,613 |
| Other contributions (incl. rollovers in) | $510,723 |
| Administrative expenses paid from the plan | $170,730 |
| Investment advisory & management fees | $99,230 |
| Benefits paid out | $3,065,131 |
| Net assets, start / end of year | $41.7M / $37.4M |
| Active participants, start / end of year | 579 / 686 |
| Participants with account balances | 603 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Crowe LLC |
Largest service providers (Schedule C)
| Onedigital Investment Advisors LLC | $73,897 reported compensation |
| Fidelity Investments Institutional | $71,500 reported compensation |
| Strategic Advisors, Inc. | $25,333 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013153701NAL0001532881001, received 2025-10-13, EIN 62-1754781, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.