Employers › First Bancorp. › plan 004
Recordkeeping fees per participant · Firstbank 401(k) Retirement Plan for Residents of the U.S. Virgin Islands and the USA · plan year 2024
$2.04
Higher than 2% of the 14,075 plans $10 to 50M that report it.
= $1,187 / 581
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250728144627NAL0000862099001, received 2025-07-28
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250728144627NAL0000862099001, received 2025-07-28
Percentiles compare this plan with the Schedule H plans $10 to 50M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-07-28.
Administrative expenses excluding investment management, per participant
$16.01
Higher than 10% of the 24,371 plans $10 to 50M that report it.
= $9,301 / 581
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250728144627NAL0000862099001, received 2025-07-28
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250728144627NAL0000862099001, received 2025-07-28
Administrative expenses per participant
$16.01
Higher than 6% of the 25,098 plans $10 to 50M that report it.
= $9,301 / 581
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250728144627NAL0000862099001, received 2025-07-28
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250728144627NAL0000862099001, received 2025-07-28
Administrative expenses as a share of assets
0.036%
Higher than 10% of the 25,132 plans $10 to 50M that report it.
= $9,301 / $26,127,581
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250728144627NAL0000862099001, received 2025-07-28
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250728144627NAL0000862099001, received 2025-07-28
Employer contributions per participant
$773
Higher than 12% of the 24,050 plans $10 to 50M that report it.
= $449,210 / 581
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250728144627NAL0000862099001, received 2025-07-28
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250728144627NAL0000862099001, received 2025-07-28
Employer share of total contributions
22.7%
Higher than 32% of the 24,084 plans $10 to 50M that report it.
= $449,210 / $1,982,587
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250728144627NAL0000862099001, received 2025-07-28
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250728144627NAL0000862099001, received 2025-07-28
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2R participant brokerage window · 2S pre-approved plan document · 2T default investment (QDIA) · 3D IRS pre-approved plan · 3H controlled-group sponsor · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250728144627NAL0000862099001, received 2025-07-28
| Field | Value | Source |
|---|---|---|
| Plan sponsor | FIRSTBANK OF PUERTO RICO | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Plan name | FIRSTBANK 401(K) RETIREMENT PLAN FOR RESIDENTS OF THE U.S. VIRGIN ISLANDS AND THE USA | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Sponsor EIN / plan number | 66-0183103 / 004 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Sponsor location | RIO PIEDRAS, PR | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Industry (business code) | 522110, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Filing received | 2025-07-28 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Participants, beginning of year | 597 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Active participants | 329 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Participants, end of year | 622 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Participants with an account balance | 581 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Total assets, beginning of year | $22,836,477 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Total assets, end of year | $26,127,581 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Net assets, end of year | $26,127,581 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Total income | $5,111,144 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Net income | $3,291,104 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Employer contributions | $449,210 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Participant contributions | $1,405,961 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Other contributions (incl. rollovers) | $127,416 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Total contributions | $1,982,587 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Benefit payments | $1,810,739 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Total expenses (incl. benefit payments) | $1,820,040 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Total administrative expenses | $9,301 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Recordkeeping fees | $1,187 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Administrative expenses excluding investment management | $9,301 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Held in mutual funds | $21,272,715 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250728144627NAL0000862099001, received 2025-07-28 |
| Independent auditor | CROWE LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250728144627NAL0000862099001, received 2025-07-28 |
Position = column in the DOL layout for form year 2024. Filing 20250728144627NAL0000862099001, received 2025-07-28.
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| CHARLES SCHWAB TRUST BANK | NONE | 19 Custodial (securities); 59 Shareholder servicing fees | $8,114 | yes |
| MILLIMAN, INC.recordkeeper | NONE | 15 Recordkeeping and information management; 37 Participant loan processing; 50 Direct payment from the plan; 59 Shareholder servicing fees; 64 Recordkeeping fees | $1,187 | no |
| CHARLES SCHWAB & CO. | NONE | 19 Custodial (securities); 59 Shareholder servicing fees | $0 | yes |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250728144627NAL0000862099001, received 2025-07-28.
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $22,836,477 | $26,127,581 | 14.4% |
| Participants with a balance | 547 | 581 | 6.2% |
| Administrative expenses | $9,717 | $9,301 | -4.3% |
| Recordkeeping fees per participant | $7.88 | $2.04 | -74.1% |
| Employer contributions | $415,777 | $449,210 | 8.0% |
Prior filing 20240821165859NAL0002523667001, received 2024-08-21; the plan years are contiguous.