First Hawaiian, Inc. Human Resources Division 401(k) Review & Grade
First Hawaiian, Inc. 401(k) Savings Plan
Honolulu, HIFinance & Insurance2,060 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,251Employer $ per active participant
$6,885Employee $ saved per active participant
$0 reportedDirect admin cost, % of plan assets
$455.8MNet plan assets, end of year
$163,949Average balance per account
Score breakdown
- Employer generosity21.8 / 5044th percentile for employer $ per participant
- Low cost12.5 / 25No direct expenses reported, scored neutral
- Employee saving7.3 / 1548th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues 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 | 44th |
| Lower admin cost | neutral |
| Employee saving | 48th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($934 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $2,965 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- First Hawaiian, Inc. Human Resources Division put in about $3,251 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.
- The plan reported no administrative expenses paid from plan assets. The employer may pay them, or the costs may be built into fund fees. Check your 404(a)(5) fee disclosure for each fund's expense ratio.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $6,695,554 |
| Participant (employee) contributions | $14,179,676 |
| Other contributions (incl. rollovers in) | $1,271,785 |
| Administrative expenses paid from the plan | $0 |
| Benefits paid out | $43,398,708 |
| Net assets, start / end of year | $419.2M / $455.8M |
| Active participants, start / end of year | 2,107 / 2,012 |
| Participants with account balances | 2,780 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010133424NAL0004660035001, received 2025-10-10, EIN 99-0156159, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.