PlanOptica
Retirement plan

SEAGATE 401(K) PLAN

SEAGATE U.S. LLCEIN 77-0545987Plan #001PY 2015
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10200 S DE ANZA BLVD, MAILSTOP CPCA04D3 - CUPERTINO, CA 95014408-658-1000LinkedIn10001+ employeesmachinery
Prospect flagsFailed to transmit contributionsCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(408) 658-1000
Plan administrator signer
JOHN CLEVELAND
Signed 10/13/2016
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Summary metrics

Total assets (EOY)
$1521.7M
-5.4% from 2016
Total participants
10,066
+1.8% from 2016
Average account balance
$154,710
-6.7% from 2016
Annual return
2.46%
-5.80 pp from 2016

Benchmarks

See 104 peers
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants5,000-9,999
Cohort104 peers
Snapshot2015
Participant deferral / active EE
$12,012
median $4,370
Employer contribution / active EE
$3,055
median $2,625
Participation rate
96.5%
median 91.8%
Avg account balance
$154,710
median $71,374
Admin fee / account holder
$65
median $30
Annual return
2.46%
median 0.76%
Overall peer rank
70th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$2.30B
Average account balance
Total assets / participants with a balance (line 6g)
$340K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
6,768
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
97.0%
Contributions (total)
Employer and participant dollars contributed each year
$62.06M
Contributions per participant
Average employer and participant contribution per enrolled participant
$20K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+17.84%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$76
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 7 by compensation
ProviderService typeCompensation
FIDELITY INVESTMENTS INSTITUTIONAL1+ years
Service code 60 · EIN 04-2647786
Sub-TA Fees
$502,841
FINANCIAL ENGINES1+ years
Service code 27 · EIN 77-0473565
Advisory (Plan)
$200,529
CALLAN ASSOCIATES INC1+ years
Service code 17 · EIN 94-2192581
Pension Consulting
$96,983
HELLOWALLET, LLC1+ years
Service code 49 · EIN 26-3682567
Other Services
$70,000
STATE STREET GLOBAL ADVISORS1+ years
Service code 51 · EIN 04-1867445
Investment Mgmt Fees
$60,566
NFP RETIREMENT, INC1+ years
Service code 17
120 VANTIS, SUITE 400 · ALISO VIEJO, CA 92656
Pension Consulting
$30,000
MOSS ADAMS LLP1+ years
Service code 10 · EIN 91-0189318
Accounting
$26,000

Top hat statement on fileNQDC

Filed February 3, 2015 (most recent of 3 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view
10200 S De Anza Blvd
Cupertino State: CA Zip Code: 95014
Email— Sign in and upgrade to viewPhone— Sign in and upgrade to view

Plans declared (1)

  • 2015 Seagate Deferred Compensation Plan247 emp
Open the filing PDF

Plan features & details

Pension benefit codes2E2F2J2G2K2S2T3F3H
Plan features
  • 2E
    Profit-sharing
    Profit-sharing plan.
  • 2F
    ERISA section 404(c) plan
    This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
  • 2G
    Total participant-directed account plan
    Participants 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.
  • 2J
    Code section 401(k) feature
    Cash 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.
  • 2K
    Code section 401(m) arrangement
    Employee 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.
  • 2S
    Automatic enrollment
    Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
  • 3F
    Leased employees
    Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped
  • ComplianceFailed to transmit contributions

    Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

  • ComplianceCorrective distributions

    Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II
Admin total
$638K
$97 / participant
  • Other / not subdivided$638K100.0%
% of EOY assets
0.042%
all-in expense ratio
Categories reported
0 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm
MOSS ADAMS LLP
Auditor EIN
910189318
Audit fees
(not subdivided)
Opinion code
Disclaimer