Retirement plan
FRANKLIN TEMPLETON 401(K) RETIREMENT PLAN
FRANKLIN RESOURCES, INC.EIN 13-2670991Plan #003PY 2023
ONE FRANKLIN PARKWAY - SAN MATEO, CA 94403800-632-2350
Prospect flagsHigh assets / participantCorrective distributions
Filing contacts
From the Form 5500, federal recordSummary metrics
Total assets (EOY)
$2205.8M
-14.7% from 2017
Total participants
6,930
+0.4% from 2017
Average account balance
$378,412
-15.0% from 2017
Annual return
18.81%
-13.13 pp from 2017
Benchmarks
Peer group
Industry52 - Finance and Insurance
Plan typeDefined contribution
Participants1,000-4,999
Cohort577 peers
Snapshot2023
84
Participant deferral / active EE
$15,334
median $7,189
93
Employer contribution / active EE
$12,276
median $3,586
18
Participation rate
76.2%
median 95.9%
98
Avg account balance
$378,412
median $92,355
34
Admin fee / account holder
$111
median $82
44
Annual return
18.81%
median 19.45%
Overall peer rank
62of 100
62nd percentileavg across 6 metrics
Analytics
2016 - 2024
Total assets (EOY)
Plan-year ending balance
$2.80B
Average account balance
Total assets / participants with a balance (line 6g)
$422K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
6,627
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
98.5%
Contributions (total)
Employer and participant dollars contributed each year
$155.72M
Contributions per participant
Average employer and participant contribution per enrolled participant
$36K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+28.35%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$96
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 4 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 13-5674085 | Recordkeeping | $269,170 |
Service code 70 · EIN 36-4291971 | Consulting Fees | $183,126 |
CALLAN LLC4 years Service code 70 · EIN 94-2192581 | Consulting Fees | $157,205 |
MMA2 years Service code 50 · EIN 26-3237576 | Direct Payment | $19,800 |
Top hat statement on fileNQDC
Filed November 16, 2021 (most recent of 2 filings on file)
Plan administrator
Plans declared (1)
- Franklin Resources, Inc. Deferred Compensation Fund Plan395 emp
Plan features & details
Pension benefit codes2E2F2G2J2K2S2T
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
- 2JCode section 401(k) featureCash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
- 2KCode section 401(m) arrangementEmployee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
Opportunity flags
2 tripped
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
- InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.
Expense breakdown
Schedule H Part II
Admin total
$649K
$140 / participant
- Recordkeeping$255K39.3%
- Investment mgmt$340K52.4%
- Other / not subdivided$54K8.3%
% of EOY assets
0.029%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- MOSS ADAMS LLP
- Auditor EIN
- 910189318
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified