Retirement plan
SEAGATE 401(K) PLAN
SEAGATE U.S. LLCEIN 77-0545987Plan #001PY 2016
10200 S DE ANZA BLVD, MAILSTOP CPCA04D3 - CUPERTINO, CA 95014408-658-1000LinkedIn10001+ employeesmachinery
Prospect flagsCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
JOHN CLEVELAND
Signed 10/10/2017
Summary metrics
Total assets (EOY)
$1608.7M
-5.4% from 2016
Total participants
9,887
+1.8% from 2016
Average account balance
$165,796
-6.7% from 2016
Annual return
8.26%
-5.80 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants5,000-9,999
Cohort118 peers
Snapshot2016
96
Participant deferral / active EE
$11,974
median $4,739
56
Employer contribution / active EE
$2,982
median $2,740
79
Participation rate
97.0%
median 93.5%
91
Avg account balance
$165,796
median $81,082
40
Admin fee / account holder
$64
median $51
32
Annual return
8.26%
median 8.91%
Overall peer rank
66of 100
66th 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 6 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $415,541 |
FINANCIAL ENGINES2+ years Service code 27 · EIN 77-0473565 | Advisory (Plan) | $284,486 |
CALLAN ASSOCIATES INC2+ years Service code 16 · EIN 94-2192581 | Consulting | $114,984 |
HELLOWALLET, LLC2+ years Service code 49 · EIN 26-3682567 | Other Services | $70,000 |
MOSS ADAMS LLP2+ years Service code 10 · EIN 91-0189318 | Accounting | $18,900 |
Service code 10 · EIN 77-0573994 | Accounting | $9,677 |
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
Plans declared (1)
- 2015 Seagate Deferred Compensation Plan247 emp
Plan features & details
Pension benefit codes2E2F2G2J2K2S2T3F3H
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.
- 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
1 tripped
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
Expense breakdown
Schedule H Part II
Admin total
$618K
$102 / participant
- Other / not subdivided$618K100.0%
% of EOY assets
0.038%
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