Plan Snapshot
- Plan Sponsor: Franklin Products, INC.
- Sponsor EIN: 061236512
- Sponsor Address: 153 WATER STREET, TORRINGTON, CT, 06790
- Plan Type: 401(k)
- Total Participants: 123
- Total Assets: $26.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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 | 123 | $26.8M | $461,645 | $617,681 |
| 2023 | 99 | $23.2M | $421,331 | $543,956 |
| 2022 | 103 | $18.9M | $413,973 | $533,966 |
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 |
|---|---|---|---|---|
| COHNREZNICK LLP | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $66,032 | $47,973 | — | — | — |
| 2023 | $54,787 | $40,464 | — | — | — |
| 2022 | $59,798 | $59,248 | — | — | $550 |