Plan Snapshot
- Plan Sponsor: The Franklin Academy, INC.
- Sponsor EIN: 562085431
- Sponsor Address: 1127 CHALK ROAD, WAKE FOREST, NC, 27587
- Plan Type: 401(k)
- Total Participants: 166
- Total Assets: $13.5M
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 | 166 | $13.5M | $255,263 | $741,861 |
| 2023 | 166 | $11.7M | $235,186 | $675,262 |
| 2022 | 158 | $9.9M | $215,132 | $600,261 |
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 |
|---|---|---|---|---|
| R. SCOTT GRADY, CPA, PLLC | 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 | $1,308 | — | — | — | — |
| 2023 | $1,568 | — | — | — | — |
| 2022 | $1,450 | — | — | — | $1,450 |