First Security Bancorp 401(k) Review & Grade
First Security Bancorp 401(k) Plan
Searcy, ARFinance & Insurance893 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,729Employer $ per active participant
$3,426Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$84.0MNet plan assets, end of year
$118,535Average balance per account
Score breakdown
- Employer generosity8.6 / 5017th percentile for employer $ per participant
- Low cost24.4 / 2598th percentile for low admin cost vs. same-size plans
- Employee saving1.2 / 158th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 17th |
| Lower admin cost | 98th |
| Employee saving | 8th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
What to do if you're in this plan
- First Security Bancorp put in about $1,729 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $1,544,022 |
| Participant (employee) contributions | $3,059,052 |
| Other contributions (incl. rollovers in) | $393,869 |
| Administrative expenses paid from the plan | $8,767 |
| Contract administrator fees | $300 |
| Benefits paid out | $4,591,333 |
| Net assets, start / end of year | $73.7M / $84.0M |
| Active participants, start / end of year | 875 / 911 |
| Participants with account balances | 709 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Frost, PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $8,767 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250909092313NAL0020045233001, received 2025-09-09, EIN 71-0550492, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.