Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › Franklin Electric
Franklin Electric 401(k)
- FELE Nasdaq
- Manufacturing
- Fort Wayne, IN
- EIN 35-0827455
- 1 plan with Schedule H financials
- Plan year 2024
- Franklin Electric Co., Inc.
- filed as Franklin Electric Company
- SEC registrant Franklin Electric Co Inc
Administrative expenses excluding investment management, per participant · Franklin Electric Co., Inc. Retirement Program · plan year 2024
$108.36
Higher than 80% of the 2,324 plans $250M to 1B that report it.
Source
= $213,911 / 1,974
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250701104418NAL0006693171001, received 2025-07-01
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250701104418NAL0006693171001, received 2025-07-01
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 2025-07-01.
Cost and contributions
Administrative expenses per participant
$135.84
Higher than 77% of the 2,405 plans $250M to 1B that report it.
Source
= $268,147 / 1,974
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250701104418NAL0006693171001, received 2025-07-01
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250701104418NAL0006693171001, received 2025-07-01
Administrative expenses as a share of assets
0.104%
Higher than 68% of the 2,407 plans $250M to 1B that report it.
Source
= $268,147 / $258,004,744
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250701104418NAL0006693171001, received 2025-07-01
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250701104418NAL0006693171001, received 2025-07-01
Employer contributions per participant
$4,545
Higher than 69% of the 2,457 plans $250M to 1B that report it.
Source
= $8,970,927 / 1,974
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250701104418NAL0006693171001, received 2025-07-01
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250701104418NAL0006693171001, received 2025-07-01
Employer share of total contributions
43.5%
Higher than 82% of the 2,459 plans $250M to 1B that report it.
Source
= $8,970,927 / $20,646,533
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250701104418NAL0006693171001, received 2025-07-01
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250701104418NAL0006693171001, received 2025-07-01
Plan terms, as stated in Franklin Electric Co., Inc.'s SEC filings
Automatic enrollment
“Employees are automatically enrolled in the Plan at 3 percent contribution of eligible wages upon employment with the Company with no automatic escalation provisions.”
Form 11-K filed 2026-06-26, for the year ended 2025-12-31 · plan description note, general · 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
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 20250701104418NAL0006693171001, received 2025-07-01
Full record, Franklin Electric Co., Inc. Retirement Program
| Field | Value | Source |
|---|---|---|
| Plan sponsor | FRANKLIN ELECTRIC COMPANY | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Plan name | FRANKLIN ELECTRIC CO., INC. RETIREMENT PROGRAM | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Sponsor EIN / plan number | 35-0827455 / 007 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Sponsor location | FORT WAYNE, IN | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Industry (business code) | 335900, Manufacturing | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Filing received | 2025-07-01 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Participants, beginning of year | 2,497 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Active participants | 1,533 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Participants, end of year | 2,042 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Participants with an account balance | 1,974 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Total assets, beginning of year | $236,699,828 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Total assets, end of year | $258,004,744 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Net assets, end of year | $258,004,744 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Total income | $48,668,262 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Net income | $21,304,916 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Employer contributions | $8,970,927 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Participant contributions | $9,442,945 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Other contributions (incl. rollovers) | $2,232,661 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Total contributions | $20,646,533 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Benefit payments | $27,094,559 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Total expenses (incl. benefit payments) | $27,363,346 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Total administrative expenses | $268,147 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Contract administrator fees | $185,682 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| IQPA audit fees | $12,150 | Schedule H, line 2i(4); IQPA_AUDIT_FEES_AMT pos 161; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Investment advisory and management fees | $54,236 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Administrative expenses excluding investment management | $213,911 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Held in common/collective trusts | $181,593,071 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Held in mutual funds | $31,864,652 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250701104418NAL0006693171001, received 2025-07-01 |
| Independent auditor | GJC CPA'S & ADVISORS | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250701104418NAL0006693171001, received 2025-07-01 |
Position = column in the DOL layout for form year 2024. Filing 20250701104418NAL0006693171001, received 2025-07-01.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANYrecordkeeper | CONTRACT ADMINISTRATOR | 13 Contract administrator; 37 Participant loan processing; 50 Direct payment from the plan; 64 Recordkeeping fees | $185,682 | yes |
| AON CONSULTING | INVESTMENT ADVISORY | 27 Investment advisory (plan); 50 Direct payment from the plan | $54,236 | no |
| GJC CPA'S & ADVISORS | ACCOUNTANT | 10 Accounting (including auditing); 50 Direct payment from the plan | $12,150 | no |
| WILSHIRE ADVISORS LLC | INVESTMENT ADVISORY | 27 Investment advisory (plan); 72 Other investment fees and expenses | $0 | 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 20250701104418NAL0006693171001, received 2025-07-01.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $236,699,828 | $258,004,744 | 9.0% |
| Participants with a balance | 2,015 | 1,974 | -2.0% |
| Administrative expenses | $262,950 | $268,147 | 2.0% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $9,149,326 | $8,970,927 | -1.9% |
Prior filing 20240710130516NAL0009579731001, received 2024-07-10; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: FRANKLIN ELECTRIC COMPANY; SEC registrant: FRANKLIN ELECTRIC CO INC (CIK 38725, matched by EIN; display name from the Form 10-K cover).