First Trust Portfolios L.P. 401(k) Review & Grade
First Trust Portfolios L.P. 401(k) Plan
Wheaton, ILFinance & Insurance1,079 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,319Employer $ per active participant
$18,741Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$360.3MNet plan assets, end of year
$301,761Average balance per account
Score breakdown
- Employer generosity22.6 / 5045th percentile for employer $ per participant
- Low cost23.9 / 2596th percentile for low admin cost vs. same-size plans
- Employee saving14.3 / 1596th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 96th |
| Employee saving | 96th |
| 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 Trust Portfolios L.P. put in about $3,319 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 | $3,580,952 |
| Participant (employee) contributions | $20,222,049 |
| Other contributions (incl. rollovers in) | $2,022,011 |
| Administrative expenses paid from the plan | $62,277 |
| Other admin expenses | $1,365 |
| Benefits paid out | $9,212,124 |
| Net assets, start / end of year | $295.3M / $360.3M |
| Active participants, start / end of year | 1,068 / 1,090 |
| Participants with account balances | 1,194 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Oneamerica Retirement Services LLC | $40,018 reported compensation |
| TD Ameritrade | $20,894 reported compensation |
| Matrix Trust Company | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014085842NAL0002452113001, received 2025-10-14, EIN 36-3768815, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.