401(k) · DOL Form 5500 · 2023

First Watch Restaurants, Inc. 401(k) Plan

Data updated 2026-08-25

$30M
Total assets Below avg plan size
9,185
Participants Very large workforce
79th
Percentile by assets National rank
$3,274
Avg per participant Low balance/head
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Official DOL plan name: First Watch 401(k) Saving Plans · Sponsored by First Watch Restaurants, Inc. · Florida · Food Services & Accommodation

$30M in assets, 9,185 participants

First Watch Restaurants, Inc.'s First Watch 401(k) Saving Plans reported $30M in total assets and 9,185 participants in its 2023 DOL Form 5500 filing, ranking in the 79th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #3,623 in Food Services & Accommodation (3,828 peers)

Coverage in Florida

First Watch 401(k) Saving Plans covers 9,185 participants in Florida, 15x the typical Florida plan (state average ~628 per filing). Assets: $30M.

#3,623
in Food Services & Accommodation (3,828 peers)
+18.4%
assets growth YoY
0.3×
vs typical plan assets (national mean)

First Watch 401(k) Saving Plans's outsized position by total assets

First Watch 401(k) Saving Plans vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$30,073,166 Top 21% higher than 79% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

First Watch 401(k) Saving Plans's large-plan peer group by participant headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. First Watch 401(k) Saving Plans lands in the large band (9,185 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • First Watch 401(k) Saving Plans reported net income rose from -$4M in the plan year 2022 filing to $5M in the plan year 2023 filing.
  • First Watch 401(k) Saving Plans reported participants rose from 3,339 in the plan year 2022 filing to 9,185 in the plan year 2023 filing.
  • First Watch 401(k) Saving Plans end-of-year assets rose from $25M in the plan year 2022 filing to $30M in the plan year 2023 filing.

See the national 2022→2023 release diff →

Form 5500 schedule snapshot

Filing strip 650543723 · First Watch Restaurants, Inc. PY 2023 · 401(k)

First Watch 401(k) Saving Plans · $30M · 9,185 · 79th

  • TYPE $30M
  • NET 9,185
  • BOOK 79th
  • VS-ST 401(k)
  • BOY near Vytalogy Wellness 401(k) Plan
  • SCH ind #3623

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Food Services & Accommodation retirement plans → · Plans in Florida →

First Watch 401(k) Saving Plans in the asset neighbourhood

Physicians Insurance 401(k) PlanPhysicians Insurance 401(k) …$30MShowplace Wood Products, Inc. 401(k) Retirement PlanShowplace Wood Products, Inc…$30MFirst Watch 401(k) Saving PlansFirst Watch 401(k) Saving Pl…$30MVytalogy Wellness 401(k) Plan$30MFema Corp. of Michigan, Inc Ps Ret PlanFema Corp. of Michigan, Inc …$30M
End-of-year total assets ($M) among First Watch 401(k) Saving Plans and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Florida filing particulars

Total Assets (Beginning of Year)$25M
Net Assets (End of Year)$30M
Net Income$5M
Employer EIN650543723
Plan Effective Date2000-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (First Watch Restaurants, Inc.)

Sponsor-wide plan assets over time

All First Watch Restaurants, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$39M 51.61937752465895% vs 2022
2024 filing year
$20M$25M$30M$35M$40M 202220232024 $25.4M $38.5M ▲ +51.7%
Year Plans Participants Total Assets
2022 1 3,339 $25M
2023 1 9,185 $30M
2024 1 15,440 $39M

Nearby 401(k) Plans in Florida

Peer 401(k) plans, same state, same plan type, ranked by total assets.

First Watch 401(k) Saving Plans vs. nearby 401(k) plans in Florida, assets vs. participants Scatter plot of 6 data points. -1000000100000200000300000400000 -505101520 Total assets ($B) Participants First Watch 401(k) Saving Plans, Total assets ($B): 0.030073166 · Participants: 9185First Watch 401(k) Saving PlansL3harris Retirement Savings Plan, Total assets ($B): 15.384363901 · Participants: 40665L3harris Retirement Savings PlanSavings Plan for Employees and Partners of Pwc, Total assets ($B): 11.333196569 · Participants: 50817Savings Plan for Employees and Partners of PwcAdp Totalsource Retirement Savings Plan, Total assets ($B): 8.025816173 · Participants: 308867Adp Totalsource Retirement Savings PlanTrinet 401(k) Plan, Total assets ($B): 7.029692551 · Participants: 157945Trinet 401(k) PlanPublix Super Markets, Inc. 401(k) Smart Plan, Total assets ($B): 6.572590596 · Participants: 184674Publix Super Markets, Inc. 401(k) Smart Plan
First Watch 401(k) Saving Plans vs. nearby 401(k) plans in Florida, assets vs. participants
Compare First Watch 401(k) Saving Plans side-by-side with 3 peers →

First Watch 401(k) Saving Plans's out-of-state 401(k) peers by assets and headcount

Outside Florida, the nearest 401(k) by assets is Vytalogy Wellness 401(k) Plan in CA ($30M); by covered participants it is Huntington Ingalls Industries Financial Security and Savings Program in VA (9,192 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($30M here).

Similar participant headcount

Nearest other-state filings by covered participants (9,185 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did First Watch 401(k) Saving Plans assets move in 2023? ▼
First Watch 401(k) Saving Plans grew sharply - up 18.4% during 2023, from $25M to $30M. Reported net income was $5M.
How have First Watch Restaurants, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), First Watch Restaurants, Inc.'s sponsor-wide assets grew 51.6%, from $25M to $39M.
Where does First Watch 401(k) Saving Plans rank by assets among Form 5500 filers? ▼
First Watch 401(k) Saving Plans ranks in the 79th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top quartile of all filed plans by assets).
Which 401(k) plans are similar in size to First Watch 401(k) Saving Plans? ▼
Among 401(k) plans in other states, the closest by assets is Vytalogy Wellness 401(k) Plan in CA ($30M, 689 participants).
Which 401(k) plans cover a similar participant headcount to First Watch 401(k) Saving Plans? ▼
Among 401(k) plans in other states, the closest by covered participants is Huntington Ingalls Industries Financial Security and Savings Program in VA (9,192 participants, $444M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 650543723.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.