Franklin Group Companies, LLC 401(k) Review & Grade
Franklin Group 401(k) Plan
Virginia Beach, VAReal Estate & Rental830 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$813Employer $ per active participant
$2,051Employee $ saved per active participant
1.36%Direct admin cost, % of plan assets
$9.7MNet plan assets, end of year
$9,981Average balance per account
Score breakdown
- Employer generosity17.4 / 5035th percentile for employer $ per participant
- Low cost0.8 / 253th percentile for low admin cost vs. same-size plans
- Employee saving3.9 / 1526th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Real Estate & Rental plans with 500–2,499 active participants (291 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 35th |
| Lower admin cost | 3th |
| Employee saving | 26th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $4,567 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Franklin Group Companies put in about $813 per active participant, below the typical peer ($1,279). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (1.36% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $674,260 |
| Participant (employee) contributions | $1,701,676 |
| Other contributions (incl. rollovers in) | $34,161 |
| Administrative expenses paid from the plan | $116,907 |
| Investment advisory & management fees | $14,842 |
| Benefits paid out | $1,077,224 |
| Net assets, start / end of year | $7.5M / $9.7M |
| Active participants, start / end of year | 792 / 867 |
| Participants with account balances | 974 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wall, Einhorn & Chernitzer |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $83,515 reported compensation |
| Wall Einhorn & Chernitzer PC | $18,550 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $9,328 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010092031NAL0012215520001, received 2025-10-10, EIN 46-2209448, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.