Plan Snapshot
- Plan Sponsor: Franklin Group Companies, LLC
- Sponsor EIN: 462209448
- Sponsor Address: 300 32ND ST #310, VIRGINIA BEACH, VA, 23451
- Plan Type: 401(k)
- Total Participants: 867
- Total Assets: $9.7M
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 | 867 | $9.7M | $674,260 | $1.7M |
| 2023 | 703 | $7.5M | $552,992 | $1.3M |
| 2022 | 500 | $5.3M | $407,250 | $1.1M |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY O | RECORDKEEPER | $83,515 | — | $83,515 |
| WALL EINHORN & CHERNITZER PC | AUDITOR | $18,550 | — | $18,550 |
| WALL, EINHORN & CHERNITZER | Auditor | $18,550 | — | $18,550 |
| MERRILL LYNCH PIERCE FENNER & SMITH | INVESTMENT ADVISOR | $9,328 | — | $9,328 |
| EMPOWER ADVISORY GROUP, LLC | INVESTMENT MGMT | $5,514 | — | $5,514 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $135,457
- Estimated Expense Ratio: 1.393% 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 | $116,907 | $14,842 | — | $18,550 | — |
| 2023 | $74,482 | $12,166 | — | $6,000 | — |
| 2022 | $66,081 | — | $66,081 | — | — |