401(k) · DOL Form 5500 · 2024

First Merchants Corporation 401(k) Plan

Data updated 2026-08-11

$261M
Total assets: 2,210
Participants: 95th
Percentile by assets: $118,056
Avg per participant

Official DOL plan name: First Merchants Corporation Retirement Income and Savings Plan · Sponsored by First Merchants Corporation · Indiana · Finance & Insurance

$261M in assets, 2,210 participants

First Merchants Corporation's First Merchants Corporation Retirement Income and Savings Plan reported $261M in total assets and 2,210 participants in its 2024 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.

95th percentile by assets (of 123,622 plans)
#7,888 in Finance & Insurance (8,549 peers)

Coverage in Indiana

First Merchants Corporation Retirement Income and Savings Plan covers 2,210 participants in Indiana, 4.1x the typical Indiana plan (state average ~541 per filing). Assets: $261M.

$261M
total plan assets (2024 EOY): 2,210
covered participants: 95th
percentile by assets (of 123,622 plans): $118,056
avg assets per participant

First Merchants Corporation Retirement Income and Savings Plan reported net income fell from $34M in the plan year 2023 filing to $22M in the plan year 2024 filing.
First Merchants Corporation Retirement Income and Savings Plan end-of-year assets rose from $239M in the plan year 2023 filing to $261M in the plan year 2024 filing.
First Merchants Corporation Retirement Income and Savings Plan reported participants rose from 2,130 in the plan year 2023 filing to 2,210 in the plan year 2024 filing.

See the national 2023→2024 release diff →

State

Indiana

Industry

Finance & Insurance

Participants vs Indiana filers

In Indiana, the average filing covers about 541 participants across 2,302 plans. First Merchants Corporation Retirement Income and Savings Plan reports 2,210 participants - 4.1x that state average ($261M EOY assets).

Indiana filing particulars

Total Assets (Beginning of Year)	$239M
Net Assets (End of Year)	$261M
Net Income	$22M
Employer EIN	351544218
Plan Effective Date	1991-01-01
Filing Status	FILING RECEIVED

Sponsor Plan History (First Merchants Corporation)

Total plan assets by year, all First Merchants Corporation plans on file

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

The Lilly Employee 401(k) Plan $13.1B · 19,977
Elevance Health 401(k) Plan $12.1B · 73,120
Cummins Retirement and Savings Plan $6.4B · 30,272
Iu Health 401(k) Savings Plan $4.5B · 38,460
Steel Dynamics, Inc. Profit Sharing and Retirement Savings Plan $3.0B · 9,385

Compare First Merchants Corporation Retirement I… side-by-side with 3 peers →

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to First Merchants Corporation Retirement Income and Savings Plan by total assets, not by location.

Panoramic Health 401(k) Plan (AZ) $261M · 1,885
Flatiron Construction Corp. 401(k) Profit Sharing Plan (CO) $261M · 1,384
Toledo Clinic, Inc. Employees' 401(k) Profit Sharing Plan and Trust (OH) $261M · 1,528
Barrett Business Services, Inc. Retirement Savings Plan (WA) $261M · 48,194

Frequently Asked Questions

How did First Merchants Corporation Retirement Income and Savings Plan assets move in 2024? ▼

First Merchants Corporation Retirement Income and Savings Plan grew at a solid clip - up 9.2% during 2024, from $239M to $261M. Reported net income was $22M.

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 123,622 plans that reported assets for plan year 2024 (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 Panoramic Health 401(k) Plan in AZ ($261M, 1,885 participants).

Next read for First Merchants Corporation Retirement I…

Filing takeaways

Ways to act on First Merchants Corporation Retirement Income and Savings Plan's numbers.

By total assets, First Merchants Corporation Retirement Income and Savings Plan ranks in the top 5% of all filed plans by assets. See the largest plans
Compare it side-by-side against 3 similar 401(k) plans in Indiana. Compare plans
First Merchants Corporation's sponsor-wide assets have grown 20.9% since 2022 across 3 plan years on file. More Finance & Insurance plans

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

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