Retirement plan

DON FRANKLIN AUTO 401(K) PLAN

Name: FRANKLIN MANAGEMENT, INC. - DON FRANKLIN AUTO 401(K) PLAN (2022) Form 5500
Creator: FRANKLIN MANAGEMENT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, DON FRANKLIN AUTO 401(K) PLAN, FRANKLIN MANAGEMENT, INC.

FRANKLIN MANAGEMENT, INC.EIN 46-0811690Plan #001PY 2022

650 SOUTH HIGHWAY 27, SUITE 5, PMB 312 - SOMERSET, KY 42501606-676-2437

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$11.5M

-2.6% from 2021

Total participants

724

+6.6% from 2021

Average account balance

$25,294

-12.9% from 2021

Annual return

-16.83%

-34.65 pp from 2021

Benchmarks

See 1,277 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants250-999

Cohort1,277 peers

Snapshot2022

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$18.65M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$32K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

579

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

68.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.64M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+19.64%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$196

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 2 by compensation

Provider	Service type	Compensation
AVANTAX INSURANCE AGENCY LLC1 year Filed as: AVANTAX ADVISORY SERVICES, INC. Service code 27 6333 NORTH STATE HIGHWAY 161 · IRVING, TX 75038	Advisory (Plan)	$60,723
JULY BUSINESS SERVICES6 years Filed as: JULY BUSINESS SERVICES, INC Service code 13 · EIN 74-2715820 400 AUSTIN AVENUE, STE. 1200 · WACO, TX 76701	Contract Administrator	$53,346

Plan features & details

Pension benefit codes2F2G2J2K2T3D3H

Plan features

2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants 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.
2J
Code section 401(k) feature
Cash 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.
2K
Code section 401(m) arrangement
Employee 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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$114K

$167 / participant

Investment mgmt$61K53.2%
Contract admin$53K46.8%

% of EOY assets

0.989%

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: BESTEN & DIERUF, PLLC
Auditor EIN: 453048812
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$25,294

$42,367-40.3%

$79,583-68.2%

$64,824-61.0%

Participation rate

60.7%

64.7%-4.0pp

69.5%-8.8pp

71.5%-10.8pp

Annual return

-16.83%

-12.24%-4.6pp

0.16%-17.0pp

32.84%-49.7pp

Employer contribution / active EE

$1,095

$1,181-7.3%

$2,414-54.6%

$2,507-56.3%

Participant deferral / active EE

$2,962

$3,168-6.5%

$3,986-25.7%

$4,311-31.3%

Admin fee / account holder

$250

$160+56.8%

$6,835-96.3%

$188+33.2%

Provider

Service type

Compensation

AVANTAX INSURANCE AGENCY LLC1 year

Filed as: AVANTAX ADVISORY SERVICES, INC.

Service code 27

6333 NORTH STATE HIGHWAY 161 · IRVING, TX 75038

Advisory (Plan)

$60,723

JULY BUSINESS SERVICES6 years

Filed as: JULY BUSINESS SERVICES, INC

Service code 13 · EIN 74-2715820

400 AUSTIN AVENUE, STE. 1200 · WACO, TX 76701

Contract Administrator

$53,346

DON FRANKLIN AUTO 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

DON FRANKLIN AUTO 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion