Retirement plan
IBM 401 (K) PLUS PLAN
INTERNATIONAL BUSINESS MACHINES CORPORATIONEIN 13-0871985Plan #005PY 2022
NEW ORCHARD ROAD, MD 261 - ARMONK, NY 10504800-796-9876
Other plans on this EIN
2 filingsProspect flagsHigh assets / participant
Filing contacts
From the Form 5500, federal recordPlan administrator signer
ALISON YARA
Signed 07/14/2023
Summary metrics
Total assets (EOY)
$53363.9M
-5.5% from 2016
Total participants
164,744
+0.8% from 2016
Average account balance
$327,647
-6.4% from 2016
Annual return
-16.22%
-11.62 pp from 2016
Benchmarks
Peer group
Industry54 - Professional, Scientific, and Technical Services
Plan typeDefined contribution
Participants>=10,000
Cohort97 peers
Snapshot2022
92
Participant deferral / active EE
$17,164
median $7,150
95
Employer contribution / active EE
$8,914
median $2,591
82
Participation rate
96.6%
median 85.1%
99
Avg account balance
$327,647
median $76,371
3
Admin fee / account holder
$224
median $55
38
Annual return
-16.22%
median -15.37%
Overall peer rank
68of 100
68th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$60.39B
Average account balance
Total assets / participants with a balance (line 6g)
$409K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
147,543
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
95.4%
Contributions (total)
Employer and participant dollars contributed each year
$940.76M
Contributions per participant
Average employer and participant contribution per enrolled participant
$19K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+14.64%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$244
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 10 of 34 by compensation
| Provider | Service type | Compensation |
|---|---|---|
STATESTREET8+ years Service code 18 · EIN 04-1867445 | Other insurance wrap fees; Investment... | $11,054,070 |
PRUDENTIAL INSURANCE COMPANY8+ years Service code 51 · EIN 22-1211670 | Investment Mgmt Fees | $4,192,347 |
Service code 73 · EIN 13-5581829 | Other insurance fees and expenses | $4,162,976 |
PIMCO8+ years Service code 51 · EIN 33-0629048 | Investment Mgmt Fees | $3,786,281 |
Service code 51 · EIN 04-3200030 | Investment Mgmt Fees | $3,273,043 |
RBC CAPITAL MARKETS8+ years Service code 67 · EIN 41-1416330 | Other insurance wrap fees | $2,813,711 |
BRIDGEWATER8+ years Service code 51 · EIN 13-2871809 | Investment Mgmt Fees | $2,238,771 |
NEW YORK LIFE INSURANCE COMPANY8+ years Service code 28 · EIN 13-5582869 | Investment Management | $2,146,528 |
Service code 37 · EIN 04-2647786 | Loan Processing | $2,033,510 |
VANGUARD8+ years Service code 51 · EIN 23-1945930 | Investment Mgmt Fees | $1,765,549 |
Reportable transactions (Schedule G)
3 rows
Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.
| Category | Counterparty | Relationship / Terms | Address | Amount |
|---|---|---|---|---|
| Part 1 Loan in default | LEHMAN BROTHERS HOLDINGS INC. | — | 745 SEVENTH AVENUE NEW YORK, NY 10019 | — |
| Part 1 Loan in default | LEHMAN BROTHERS HOLDINGS INC. | — | 745 SEVENTH AVENUE NEW YORK, NY 10019 | — |
| Part 1 Loan in default | SIGMA FINANCE CORPORATION | — | — | — |
Plan features & details
Pension benefit codes2E2F2J2K2O3J2G2S2T
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants 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.
- 2JCode section 401(k) featureCash 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.
- 2KCode section 401(m) arrangementEmployee 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.
- 2OESOP other than a leveraged ESOPEmployee stock ownership plan that is not leveraged.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3JU.S.-based Puerto Rico dual-qualified planU.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 1165 of the Internal Revenue Code of Puerto Rico.
Opportunity flags
1 tripped
- InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.
Expense breakdown
Schedule H Part II
Admin total
$36.5M
$665 / participant
- Investment mgmt$28M75.9%
- Contract admin$2M5.6%
- Other / not subdivided$7M18.5%
% of EOY assets
0.068%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- PRICEWATERHOUSECOOPERS LLP
- Auditor EIN
- 134008324
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified