Plan Snapshot
- Plan Sponsor: Franklin Electric Company
- Sponsor EIN: 350827455
- Sponsor Address: 9255 COVERDALE ROAD, FORT WAYNE, IN, 46809
- Plan Type: 401(k)
- Total Participants: 1,533
- Total Assets: $258.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 1,533 | $258.0M | $9.0M | $9.4M |
| 2023 | 1,565 | $236.7M | $9.1M | $9.1M |
| 2022 | 1,685 | $198.4M | $9.0M | $8.8M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| GJC CPA'S & ADVISORS | Auditor | $12,150 | — | $12,150 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $12,150
- Estimated Expense Ratio: 0.005% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $268,147 | $54,236 | $185,682 | $12,150 | — |
| 2023 | $262,950 | $45,974 | $201,322 | — | — |
| 2022 | $331,281 | $94,513 | $213,149 | — | $13,427 |