Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › First Merchants
First Merchants 401(k)
- FRME Nasdaq
- Finance and insurance
- Muncie, IN
- EIN 35-1544218
- 1 plan with Schedule H financials
- Plan year 2024
- First Merchants Corporation
- SEC registrant First Merchants Corp
Administrative expenses excluding investment management, per participant · First Merchants Corporation Retirement Income and Savings Plan · plan year 2024
$61.63
Higher than 44% of the 2,324 plans $250M to 1B that report it.
Source
= $166,283 / 2,698
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250625093540NAL0011075872001, received 2025-06-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625093540NAL0011075872001, received 2025-06-25
Percentiles compare this plan with the Schedule H plans $250M to 1B in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-06-25.
Cost and contributions
Administrative expenses per participant
$61.63
Higher than 29% of the 2,405 plans $250M to 1B that report it.
Source
= $166,283 / 2,698
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250625093540NAL0011075872001, received 2025-06-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625093540NAL0011075872001, received 2025-06-25
Administrative expenses as a share of assets
0.064%
Higher than 44% of the 2,407 plans $250M to 1B that report it.
Source
= $166,283 / $260,904,766
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250625093540NAL0011075872001, received 2025-06-25
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250625093540NAL0011075872001, received 2025-06-25
Employer contributions per participant
$2,615
Higher than 40% of the 2,457 plans $250M to 1B that report it.
Source
= $7,055,296 / 2,698
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250625093540NAL0011075872001, received 2025-06-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625093540NAL0011075872001, received 2025-06-25
Employer share of total contributions
31.0%
Higher than 50% of the 2,459 plans $250M to 1B that report it.
Source
= $7,055,296 / $22,759,840
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250625093540NAL0011075872001, received 2025-06-25
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250625093540NAL0011075872001, received 2025-06-25
Plan terms, as stated in First Merchants Corporation's SEC filings
Employer match
“The Corporation matches employees’ contributions at the rate of 100 percent for the first 3 percent of base salary contributed by participants and 50 percent of the next 3 percent of base salary contributed by participants.”
Form 10-K filed 2026-02-25, for the year ended 2025-12-31 · benefits note, 10-K benefits note · source document
Vesting
“Vesting in the Corporation's matching contribution portion of their accounts plus earnings thereon is based on years of service, with a year of service defined as completion of at least 1,000 hours worked during a plan year.”
Form 11-K filed 2026-06-11, for the year ended 2025-12-31 · plan description note, vesting · source document
Terms quoted from the filing for the year ended 2025-12-31. Figures cover plan year 2024. The plan document governs.
Plan features
2A age/service-weighted · 2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2S pre-approved plan document · 2T default investment (QDIA) · 3D IRS pre-approved plan · 3H controlled-group sponsor · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250625093540NAL0011075872001, received 2025-06-25
Full record, First Merchants Corporation Retirement Income and Savings Plan
| Field | Value | Source |
|---|---|---|
| Plan sponsor | FIRST MERCHANTS CORPORATION | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Plan name | FIRST MERCHANTS CORPORATION RETIREMENT INCOME AND SAVINGS PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Sponsor EIN / plan number | 35-1544218 / 002 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Sponsor location | MUNCIE, IN | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Industry (business code) | 522110, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Filing received | 2025-06-25 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Participants, beginning of year | 2,854 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Active participants | 2,056 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Participants, end of year | 2,751 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Participants with an account balance | 2,698 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Total assets, beginning of year | $238,918,095 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Total assets, end of year | $260,904,766 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Net assets, end of year | $260,904,686 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Total income | $55,069,846 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Net income | $21,995,444 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Employer contributions | $7,055,296 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Participant contributions | $13,225,327 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Other contributions (incl. rollovers) | $2,479,217 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Total contributions | $22,759,840 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Benefit payments | $32,720,380 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Total expenses (incl. benefit payments) | $33,074,402 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Total administrative expenses | $166,283 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Contract administrator fees | $166,283 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Administrative expenses excluding investment management | $166,283 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Held in mutual funds | $236,673,791 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250625093540NAL0011075872001, received 2025-06-25 |
| Independent auditor | FORVIS MAZARS, LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250625093540NAL0011075872001, received 2025-06-25 |
Position = column in the DOL layout for form year 2024. Filing 20250625093540NAL0011075872001, received 2025-06-25.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| LINCOLN NATIONAL CORPORATION | SERVICE PROVIDER | 13 Contract administrator | $166,283 | yes |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250625093540NAL0011075872001, received 2025-06-25.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $238,918,095 | $260,904,766 | 9.2% |
| Participants with a balance | 2,786 | 2,698 | -3.2% |
| Administrative expenses | $174,935 | $166,283 | -4.9% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $7,046,447 | $7,055,296 | 0.1% |
Prior filing 20240621092632NAL0004960354001, received 2024-06-21; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: FIRST MERCHANTS CORPORATION; SEC registrant: FIRST MERCHANTS CORP (CIK 712534, matched by EIN; display name from the Form 11-K cover).