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Retirement plan

INTEL MINIMUM PENSION PLAN

INTEL CORPORATIONEIN 94-1672743Plan #002PY 2022
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1900 PRAIRIE CITY RD, M/S FM1-118 - FOLSOM, CA 95630intel.comLinkedIn10001+ employeessemiconductors
Other plans on this EIN
2 filings
#003Retirement-$18.36B assets#001Retirement-$6.92B assets
Prospect flagsLow returnsWind-down / frozen

Filing contacts

From the Form 5500, federal record
Plan administrator signer
IRINA SILIC
Signed 08/30/2023
Plan administrator entity
INTEL RETIREMENT PLANS ADMINISTRATIVE COMMITTEE
EIN 205001544
1900 PRAIRIE CITY RD FM1-118 · FOLSOM, CA 956309501
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Summary metrics

Total assets (EOY)
$922.3M
-20.0% from 2016
Total participants
33,060
+4.6% from 2016
Average account balance
$0
No prior year
Annual return
-26.58%
-8.78 pp from 2016

Benchmarks

See 204 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort204 peers
Snapshot2022
Participant deferral / active EE
$0
median $38
Employer contribution / active EE
$0
median $6,003
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $1,469,698
Admin fee / account holder
$0
median $19,323
Annual return
-26.58%
median -13.75%
Overall peer rank
2nd percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$814.71M
Average account balance
Total assets / participants with a balance (line 6g)
$32K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
12,559
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
$450.00M
Contributions per participant
Average employer and participant contribution per enrolled participant
$18K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-2.24%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 10 by compensation
ProviderService typeCompensation
FID INVEST INST OPS CO8+ years
Service code 12 · EIN 04-2647786
Contract Administrator; Recordkeeping...
$1,346,322
BLACKROCK INSTITUTIONAL TRUST COMPA3 years
Service code 28 · EIN 94-3112180
Investment Management
$355,583
AON INVESTMENTS USA INC.3 years
Service code 50 · EIN 36-3109431
Direct Payment
$213,750
MERCER8+ years
Service code 11 · EIN 13-2834414
Actuarial
$155,300
CROWE LLP1 year
Service code 10 · EIN 35-0921680
Accounting
$45,000
NORTHEAST RETIREMENT SERVICES4 years
Service code 50
12 GILL STREET · WOBURN, MA 01801
Direct Payment
$37,500
THE BANK OF NEW YORK MELLON1 year
Service code 19 · EIN 13-5160382
Securities Custodian
$25,381
CLIFTONLARSONALLEN LLP4 years
Service code 10 · EIN 41-0746749
Accounting
$21,750
CHRISTOPHER C GECZY2 years
Service code 17
108 SPRINGHOUSE LANE · NEWTON SQUARE, PA 19073
Pension Consulting
$13,500
MORGAN, LEWIS, & BOCKIUS LLP4 years
Service code 29 · EIN 23-0891050
Legal
$7,420

Enrolled actuary

1 attachment
SB

JAMES CHAKAN, FSA, EA

MERCER
Enrollment #2007696
633 WEST 5TH STREET, SUITE 1200
LOS ANGELES, CA 90071
(213) 346-2317
Signed 2023-03-22

Top hat statement on fileNQDC

Filed August 8, 2024 (most recent of 4 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view
2200 Mission College Boulevard
Santa Clara, CA 95054
Email— Sign in and upgrade to viewPhone— Sign in and upgrade to view

Plans declared (1)

  • Intel Corporation Executive Severance Plan81 emp
Open the filing PDF

Plan features & details

Pension benefit codes1A1D3F3H
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
  • 1D
    Floor-offset plan
    Defined benefit plan whose benefits are offset by retirement benefits provided under an employer-sponsored defined contribution plan.
  • 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
  • OpportunityLow returns

    Annual investment return is in the bottom quintile of the peer cohort.

  • InformationalWind-down / frozen

    Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II
Admin total
$4.8M
$228 / participant
  • Investment mgmt$646K13.3%
  • Contract admin$1M27.8%
  • Other / not subdivided$3M58.8%
% of EOY assets
0.525%
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
CROWE LLP
Auditor EIN
350921680
Audit fees
(not subdivided)
Opinion code
Unqualified