401(k) · DOL Form 5500 · 2023

Franklin Electric Company 401(k) Plan

Data updated 2026-08-25

$237M
Total assets Near avg plan size
1,636
Participants Near avg headcount
95th
Percentile by assets National rank
$144,682
Avg per participant Above avg balance/head
PlainRetire home → About this data RSS: change history

Official DOL plan name: Franklin Electric Co., Inc. Retirement Plan · Sponsored by Franklin Electric Company · Indiana · Manufacturing

$237M in assets, 1,636 participants

Franklin Electric Company's Franklin Electric Co., Inc. Retirement Plan reported $237M in total assets and 1,636 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.

  • #17,359 in Manufacturing (18,722 peers)

Coverage in Indiana

Franklin Electric Co., Inc. Retirement Plan covers 1,636 participants in Indiana, 3.0x the typical Indiana plan (state average ~541 per filing). Assets: $237M.

#17,359
in Manufacturing (18,722 peers)
+19.3%
assets growth YoY
2.4×
vs typical plan assets (national mean)

Franklin Electric Co., Inc. Retirement Plan's outsized position by total assets

Franklin Electric Co., Inc. Retirement Plan vs every filed plan by assets

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

$236,699,828 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

Franklin Electric Co., Inc. Retirement 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. Franklin Electric Co., Inc. Retirement Plan lands in the large band (1,636 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Franklin Electric Co., Inc. Retirement Plan reported net income rose from -$40M in the plan year 2022 filing to $38M in the plan year 2023 filing.
  • Franklin Electric Co., Inc. Retirement Plan end-of-year assets rose from $198M in the plan year 2022 filing to $237M in the plan year 2023 filing.
  • Franklin Electric Co., Inc. Retirement Plan reported participants fell from 1,649 in the plan year 2022 filing to 1,636 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Form 5500 schedule snapshot

Filing strip 350827455 · Franklin Electric Company PY 2023 · 401(k)

Franklin Electric Co., Inc. Retirement Plan · $237M · 1,636 · 95th

  • PART $237M
  • PART 1,636
  • PART 95th
  • PART 401(k)
  • PART near Silicon Laboratories Inc. 401(k) Plan
  • PART ind #17359

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 Manufacturing retirement plans → · Plans in Indiana →

Franklin Electric Co., Inc. Retirement Plan in the asset neighbourhood

Consol Energy Inc. Investment PlanConsol Energy Inc. Investmen…$237MSilicon Laboratories Inc. 401(k) PlanSilicon Laboratories Inc. 40…$237MFranklin Electric Co., Inc. Retirement PlanFranklin Electric Co., Inc. …$237MMead & Hunt, Inc. 401(k) Savings PlanMead & Hunt, Inc. 401(k) Sav…$237MSierra Space Corporation 401(k) Profit Sharing PlanSierra Space Corporation 401…$236M
End-of-year total assets ($M) among Franklin Electric Co., Inc. Retirement Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Indiana filing particulars

Total Assets (Beginning of Year)$198M
Net Assets (End of Year)$237M
Net Income$38M
Employer EIN350827455
Plan Effective Date1984-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Franklin Electric Company)

Sponsor-wide plan assets over time

All Franklin Electric Company plans reported in each filing year

Latest sponsor-wide plan assets
$359M 16.78907800979853% vs 2022
2024 filing year
$300M$320M$340M$360M$380M 202220232024 $307M $359M ▲ +16.8%
Year Plans Participants Total Assets
2022 2 1,898 $307M
2023 2 1,856 $344M
2024 2 1,799 $359M

Nearby 401(k) Plans in Indiana

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

Franklin Electric Co., Inc. Retirement Plan vs. nearby 401(k) plans in Indiana, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000100000 -5051015 Total assets ($B) Participants Franklin Electric Co., Inc. Retirement Plan, Total assets ($B): 0.236699828 · Participants: 1636Franklin Electric Co., Inc. Retirement 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
Franklin Electric Co., Inc. Retirement Plan vs. nearby 401(k) plans in Indiana, assets vs. participants
Compare Franklin Electric Co., Inc. Retirement Plan side-by-side with 3 peers →

Franklin Electric Co., Inc. Retirement Plan's out-of-state 401(k) peers by assets and headcount

Outside Indiana, the nearest 401(k) by assets is Silicon Laboratories Inc. 401(k) Plan in TX ($237M); by covered participants it is Melton Truck Lines, Inc. 401(k) Profit Sharing Plan in OK (1,636 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($237M here).

Similar participant headcount

Nearest other-state filings by covered participants (1,636 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 Franklin Electric Co., Inc. Retirement Plan assets move in 2023? ▼
Franklin Electric Co., Inc. Retirement Plan grew sharply - up 19.3% during 2023, from $198M to $237M. Reported net income was $38M.
How have Franklin Electric Company plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Franklin Electric Company's sponsor-wide assets grew 16.8%, from $307M to $359M.
Where does Franklin Electric Co., Inc. Retirement Plan rank by assets among Form 5500 filers? ▼
Franklin Electric Co., Inc. Retirement 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 Franklin Electric Co., Inc. Retirement Plan? ▼
Among 401(k) plans in other states, the closest by assets is Silicon Laboratories Inc. 401(k) Plan in TX ($237M, 791 participants).
Which 401(k) plans cover a similar participant headcount to Franklin Electric Co., Inc. Retirement Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Melton Truck Lines, Inc. 401(k) Profit Sharing Plan in OK (1,636 participants, $57M 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 350827455.

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.