Retirement plan
RETIREMENT SAVINGS PLAN
CORTEVA AGRISCIENCE, LLCEIN 35-1781118Plan #002PY 2023
974 CENTRE ROAD, CHESTNUT RUN PLAZA, 735/4355-8 - WILMINGTON, DE 19805302-485-3492corteva.comLinkedIn10001+ employeesfarming
Prospect flagsHigh retiree %Low returnsHigh assets / participantFailed to transmit contributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
MARK DURKOVIC
Signed 07/23/2024
Plan administrator entity
BENEFIT PLANS ADMINISTRATIVE COMMITTEE
EIN 351781118
Summary metrics
Total assets (EOY)
$6839.3M
-4.1% from 2023
Total participants
26,098
+5.6% from 2023
Average account balance
$262,858
-7.7% from 2023
Annual return
13.74%
-25.88 pp from 2023
Benchmarks
Peer group
Industry32 - Manufacturing
Plan typeDefined contribution
Participants5,000-9,999
Cohort57 peers
Snapshot2023
89
Participant deferral / active EE
$12,119
median $6,950
95
Employer contribution / active EE
$10,491
median $3,875
98
Participation rate
99.2%
median 95.3%
93
Avg account balance
$262,858
median $124,339
75
Admin fee / account holder
$51
median $69
7
Annual return
13.74%
median 18.53%
Overall peer rank
76of 100
76th percentileavg across 6 metrics
Analytics
2022 - 2024
Total assets (EOY)
Plan-year ending balance
$7.02B
Average account balance
Total assets / participants with a balance (line 6g)
$287K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
24,441
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
99.2%
Contributions (total)
Employer and participant dollars contributed each year
$213.23M
Contributions per participant
Average employer and participant contribution per enrolled participant
$22K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+11.20%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$44
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 6 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 13-5674085 | Recordkeeping | $1,192,117 |
PRICEWATERHOUSECOOPERS1 year Service code 10 · EIN 13-4008324 | Accounting | $66,646 |
BALLARD SPAHR LLP2+ years Service code 29 · EIN 23-0382195 | Legal | $37,450 |
Service code 16 · EIN 30-0282430 | Consulting | $35,000 |
ERNST & YOUNG LLP1 year Service code 16 · EIN 34-6565596 | Consulting | $18,000 |
FIDUCIARY COUNSELORS INC.2+ years Service code 16 700 12TH STREET NW · WASHINGTON, DC 20005 | Consulting | $8,000 |
Top hat statement on fileNQDC
Filed May 15, 2005 (most recent of 2 filings on file)
This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.
Plan features & details
Pension benefit codes2E2F2G2J2K2O2R2S2T3F3H
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.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 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.
- 3FLeased employeesPlan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
4 tripped
- OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
- ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
- InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.
- InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
Expense breakdown
Schedule H Part II
Admin total
$1.3M
$138 / participant
- Recordkeeping$1M89.3%
- Trustee / custodial$38K2.9%
- Legal$37K2.8%
- Other / not subdivided$67K5.0%
% of EOY assets
0.020%
all-in expense ratio
Categories reported
3 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- PRICEWATERHOUSECOOPERS
- Auditor EIN
- 134008324
- Audit fees
- $66,646
- Opinion code
- Unqualified