Retirement plan

FRANKLIN FOODS, INC. 401(K) PROFIT SHARING PLAN

Name: FRANKLIN FOODS, INC. - FRANKLIN FOODS, INC. 401(K) PROFIT SHARING PLAN (2019) Form 5500
Creator: FRANKLIN FOODS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FRANKLIN FOODS, INC. 401(K) PROFIT SHARING PLAN, FRANKLIN FOODS, INC.

FRANKLIN FOODS, INC.EIN 46-1052805Plan #001PY 2019

2500 N MILITARY TRL - BOCA RATON, FL 334316344561-638-2837LinkedIn1-10 employeesconsumer goods

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$5.8M

+29.6% from 2018

Total participants

235

+22.4% from 2018

Average account balance

$36,977

+29.6% from 2018

Annual return

21.06%

+29.11 pp from 2018

Benchmarks

See 966 peers

Peer group

Industry31 - Manufacturing

Plan typeDefined contribution

Participants100-249

Cohort966 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.52M

Not enough data

1 years with asset history on file

Average account balance

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

$62K

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.

138

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.

39.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+15.84%

Not enough data

1 years with return on file

Admin fee / account holder

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

$51

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 3 by compensation

Provider	Service type	Compensation
FUTURE PLAN CONSULTING - FORT WAYNE2+ years Filed as: FUTURE PLANNING ASSOCIATES, INC. Service code 15 · EIN 03-0271340	Recordkeeping	$8,905
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSETS GROUP Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$6,419
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT WEST LIFE & ANNUITY INS., CO. Service code 64 · EIN 84-0467907	Recordkeeping Fees	$2,728

Plan features & details

Pension benefit codes2E2F2G2J2K3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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.

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

$17K

$93 / participant

Other / not subdivided$17K100.0%

% of EOY assets

0.301%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: GALLAGHER, FLYNN & COMPANY, LLP
Auditor EIN: 030225774
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$36,977

$50,666-27.0%

$76,823-51.9%

$65,185-43.3%

Participation rate

58.3%

68.8%-10.5pp

72.1%-13.8pp

70.2%-11.9pp

Annual return

21.06%

28.51%-7.5pp

1166.42%-1145.4pp

29.38%-8.3pp

Employer contribution / active EE

$1,229

$1,575-21.9%

$2,302-46.6%

$2,177-43.5%

Participant deferral / active EE

$2,214

$2,647-16.4%

$3,336-33.6%

$3,514-37.0%

Admin fee / account holder

$111

$463-76.0%

$6,422-98.3%

$847-86.9%

Provider

Service type

Compensation

FUTURE PLAN CONSULTING - FORT WAYNE2+ years

Filed as: FUTURE PLANNING ASSOCIATES, INC.

Service code 15 · EIN 03-0271340

Recordkeeping

$8,905

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSETS GROUP

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$6,419

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT WEST LIFE & ANNUITY INS., CO.

Service code 64 · EIN 84-0467907

Recordkeeping Fees

$2,728

FRANKLIN FOODS, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FRANKLIN FOODS, INC. 401(K) PROFIT SHARING 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