First National of Nebraska, Inc. 401(k) Review & Grade
First National of Nebraska, Inc. First Savings Plan
Omaha, NEFinance & Insurance4,786 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,894Employer $ per active participant
$7,040Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$1.0BNet plan assets, end of year
$165,809Average balance per account
Score breakdown
- Employer generosity33.1 / 5066th percentile for employer $ per participant
- Low cost19.8 / 2579th percentile for low admin cost vs. same-size plans
- Employee saving4.8 / 1532th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score62 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 66th |
| Lower admin cost | 79th |
| Employee saving | 32th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,879 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- First National of Nebraska put in about $5,894 per active participant, more than the typical peer ($4,489). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $28,207,042 |
| Participant (employee) contributions | $33,693,873 |
| Other contributions (incl. rollovers in) | $3,476,059 |
| Administrative expenses paid from the plan | $478,639 |
| Contract administrator fees | $190,758 |
| Investment advisory & management fees | $152,259 |
| Benefits paid out | $98,165,308 |
| Net assets, start / end of year | $926.0M / $1.0B |
| Active participants, start / end of year | 4,950 / 4,622 |
| Participants with account balances | 6,305 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Voya Institutional Plan Services | $326,380 reported compensation |
| Voya Retirement Advisors, LLC | $152,259 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015102646NAL0009069074001, received 2025-10-15, EIN 47-0523079, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.