First Financial Bancorp 401(k) Review & Grade
First Financial Bancorp 401(k) Savings Plan
Cincinnati, OHFinance & Insurance2,128 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$0Employer $ per active participant
$6,984Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$171.4MNet plan assets, end of year
$69,272Average balance per account
Score breakdown
- Employer generosity0.7 / 501th percentile for employer $ per participant
- Low cost20.1 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving7.4 / 1549th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 1th |
| Lower admin cost | 80th |
| Employee saving | 49th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,009 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- First Financial Bancorp put in about $0 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $576 |
| Participant (employee) contributions | $14,858,138 |
| Other contributions (incl. rollovers in) | $1,249,284 |
| Administrative expenses paid from the plan | $122,629 |
| Contract administrator fees | $122,629 |
| Benefits paid out | $15,546,351 |
| Net assets, start / end of year | $153.9M / $171.4M |
| Active participants, start / end of year | 2,171 / 2,084 |
| Participants with account balances | 2,475 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Crowe LLP |
| Employer stock held by plan | $9,995,778 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $122,629 reported compensation |
| Wilshire Advisors LLC | $0 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250627082745NAL0009590737001, received 2025-06-27, EIN 31-1042001, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.