401(k) · DOL Form 5500 · 2023

First Merchants Corporation 401(k) Plan

Data updated 2026-08-25

$239M
Total assets Near avg plan size
2,130
Participants Near avg headcount
95th
Percentile by assets National rank
$112,168
Avg per participant Below avg balance/head
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Official DOL plan name: First Merchants Corporation Retirement Income and Savings Plan · Sponsored by First Merchants Corporation · Indiana · Finance & Insurance

$239M in assets, 2,130 participants

First Merchants Corporation's First Merchants Corporation Retirement Income and Savings Plan reported $239M in total assets and 2,130 participants in its 2023 DOL Form 5500 filing, ranking in the 95th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #8,206 in Finance & Insurance (8,869 peers)

Coverage in Indiana

First Merchants Corporation Retirement Income and Savings Plan covers 2,130 participants in Indiana, 3.9x the typical Indiana plan (state average ~541 per filing). Assets: $239M.

#8,206
in Finance & Insurance (8,869 peers)
+16.7%
assets growth YoY
2.4×
vs typical plan assets (national mean)

First Merchants Corporation Retirement Income and Savings Plan's outsized position by total assets

First Merchants Corporation Retirement Income and Savings Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$238,918,095 Top 5% higher than 95% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

First Merchants Corporation Retirement Income and Savings Plan's large-plan peer group by participant headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. First Merchants Corporation Retirement Income and Savings Plan lands in the large band (2,130 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • First Merchants Corporation Retirement Income and Savings Plan reported net income rose from -$26M in the plan year 2022 filing to $34M in the plan year 2023 filing.
  • First Merchants Corporation Retirement Income and Savings Plan end-of-year assets rose from $205M in the plan year 2022 filing to $239M in the plan year 2023 filing.
  • First Merchants Corporation Retirement Income and Savings Plan reported participants fell from 2,157 in the plan year 2022 filing to 2,130 in the plan year 2023 filing.

See the national 2022→2023 release diff →

DOL schedule card

Filing strip 351544218 · First Merchants Corporation PY 2023 · 401(k)

First Merchants Corporation Retirement Income and Savings Plan · $239M · 2,130 · 95th

  • 5500 $239M
  • 5500 2,130
  • 5500 95th
  • 5500 401(k)
  • 5500 near United Therapeutics Corporation Employees' Retirement Plan
  • 5500 ind #8206

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in Indiana →

First Merchants Corporation Retirement Income and Savings Plan in the asset neighbourhood

Alzheimer's Association Retirement and Savings PlanAlzheimer's Association Reti…$239MGranite Retirement Savings PlanGranite Retirement Savings P…$239MAvid Technology, Inc. 401(k) PlanAvid Technology, Inc. 401(k)…$239MFirst Merchants Corporation Retirement Income and Savings PlanFirst Merchants Corporation …$239MUnited Therapeutics Corporation Employees' Retirement PlanUnited Therapeutics Corporat…$239M
End-of-year total assets ($M) among First Merchants Corporation Retirement Income and Savings Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Indiana filing particulars

Total Assets (Beginning of Year)$205M
Net Assets (End of Year)$239M
Net Income$34M
Employer EIN351544218
Plan Effective Date1991-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (First Merchants Corporation)

Sponsor-wide plan assets over time

All First Merchants Corporation plans reported in each filing year

Latest sponsor-wide plan assets
$341M 20.946935897141326% vs 2022
2024 filing year
$260M$280M$300M$320M$340M$360M 202220232024 $282M $341M ▲ +20.9%
Year Plans Participants Total Assets
2022 2 2,310 $282M
2023 2 2,268 $321M
2024 2 2,340 $341M

Nearby 401(k) Plans in Indiana

Peer 401(k) plans, same state, same plan type, ranked by total assets.

First Merchants Corporation Retirement Income and Savings Plan vs. nearby 401(k) plans in Indiana, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000100000 -5051015 Total assets ($B) Participants First Merchants Corporation Retirement Income and Savings Plan, Total assets ($B): 0.238918095 · Participants: 2130First Merchants Corporation Retirement Income and Savings PlanThe Lilly Employee 401(k) Plan, Total assets ($B): 11.133214731 · Participants: 17583The Lilly Employee 401(k) PlanElevance Health 401(k) Plan, Total assets ($B): 11.042395257 · Participants: 76590Elevance Health 401(k) PlanCummins Retirement and Savings Plan, Total assets ($B): 5.730057183 · Participants: 28381Cummins Retirement and Savings PlanIu Health 401(k) Savings Plan, Total assets ($B): 3.907792365 · Participants: 38575Iu Health 401(k) Savings PlanSteel Dynamics, Inc. Profit Sharing and Retirement Savings Plan, Total assets ($B): 2.573079703 · Participants: 9015Steel Dynamics, Inc. Profit Sharing and Retirement Savings Plan
First Merchants Corporation Retirement Income and Savings Plan vs. nearby 401(k) plans in Indiana, assets vs. participants
Compare First Merchants Corporation Retirement Income and Savings Plan side-by-side with 3 peers →

First Merchants Corporation Retirement Income and Savings Plan's out-of-state 401(k) peers by assets and headcount

Outside Indiana, the nearest 401(k) by assets is United Therapeutics Corporation Employees' Retirement Plan in MD ($239M); by covered participants it is Roper Employee Voluntary Retirement Plan in GA (2,130 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($239M here).

Similar participant headcount

Nearest other-state filings by covered participants (2,130 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did First Merchants Corporation Retirement Income and Savings Plan assets move in 2023? ▼
First Merchants Corporation Retirement Income and Savings Plan grew sharply - up 16.7% during 2023, from $205M to $239M. Reported net income was $34M.
How have First Merchants Corporation plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), First Merchants Corporation's sponsor-wide assets grew 20.9%, from $282M to $341M.
Where does First Merchants Corporation Retirement Income and Savings Plan rank by assets among Form 5500 filers? ▼
First Merchants Corporation Retirement Income and Savings Plan ranks in the 95th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 5% of all filed plans by assets).
Which 401(k) plans are similar in size to First Merchants Corporation Retirement Income and Savings Plan? ▼
Among 401(k) plans in other states, the closest by assets is United Therapeutics Corporation Employees' Retirement Plan in MD ($239M, 979 participants).
Which 401(k) plans cover a similar participant headcount to First Merchants Corporation Retirement Income and Savings Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Roper Employee Voluntary Retirement Plan in GA (2,130 participants, $99M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 351544218.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.