First State Bank of the Florida Keys401(k)
FIRST STATE BANK OF THE FLORIDA KEYS PROFIT SHARING RETIREMENT PLAN · KEY WEST, FL · plan year 2023
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
First State Bank of the Florida Keys reported $77,522 in plan administrative expenses for 2023: 0.41% of average plan assets, above the peer median. Employer contributions averaged $3,203 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.36% to 0.40%. The plan sits in the $10M–$50M size bracket, benchmarked here against 26,779 comparable plans and shown alongside other finance & insurance employers. By assets it is the 1,097th-largest of 3,644 plans among Florida employers on file, and 3,022nd of 4,798 in finance & insurance. In 2023, employees put in $1.74 for every $1.00 the employer contributed; active participation has grown from 130 to 149 since 2022.
First State Bank of the Florida Keys's 2023 employer contribution ran above the $2,440 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2023 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 650790413 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.