PlanOptica
Retirement plan

SEAGATE 401(K) PLAN

SEAGATE U.S. LLCEIN 77-0545987Plan #001PY 2021
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47488 KATO RD, MAILSTOP FRCO2B1 - FREMONT, CA 94538510-661-1000LinkedIn10001+ employeesmachinery
Prospect flagsHigh assets / participantCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(510) 661-1000
Plan administrator signer
SCOTT SILL
Signed 10/10/2022
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Summary metrics

Total assets (EOY)
$2503.7M
-5.4% from 2016
Total participants
8,082
+1.8% from 2016
Average account balance
$314,541
-6.7% from 2016
Annual return
16.56%
-5.80 pp from 2016

Benchmarks

See 773 peers
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants1,000-4,999
Cohort773 peers
Snapshot2021
Participant deferral / active EE
$14,677
median $4,995
Employer contribution / active EE
$3,317
median $2,479
Participation rate
97.3%
median 93.7%
Avg account balance
$314,541
median $93,206
Admin fee / account holder
$109
median $89
Annual return
16.56%
median 15.05%
Overall peer rank
73rd 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
ProviderService typeCompensation
STRATEGIC ADVISORS, INC.3 years
Service code 27 · EIN 04-2654524
Advisory (Plan)
$360,679
FIDELITY INVESTMENTS INSTITUTIONAL7+ years
Service code 37 · EIN 04-2647786
Loan Processing
$173,916
CALLAN LLC1 year
Service code 27 · EIN 94-2192581
Advisory (Plan)
$81,983
MOSS ADAMS LLP7+ years
Service code 10 · EIN 91-0189318
Accounting
$31,000
NFP RETIREMENT, INC7+ years
Service code 16 · EIN 33-0905143
Consulting
$15,000
STATE STREET GLOBAL ADVISORS TRUST1 year
Service code 19 · EIN 81-4017137
Securities Custodian
$14,483

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 codes3H3F2E2F2G2J2K2S2T
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
  • ComplianceCorrective distributions

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

  • InformationalHigh assets / participant

    Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II
Admin total
$867K
$193 / participant
  • Investment mgmt$375K43.2%
  • Other / not subdivided$492K56.8%
% of EOY assets
0.035%
all-in expense ratio
Categories reported
1 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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