Retirement plan
APPLE 401(K) PLAN
APPLE INC.EIN 94-2404110Plan #001PY 2016
ONE INFINITE LOOP, MS 104-1BEN - CUPERTINO, CA 95014408-974-3833apple.comLinkedIn10001+ employeesconsumer electronics
Prospect flagsLow assets / participantFailed to transmit contributionsCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
KATIE STIVERS
Signed 07/28/2017
Summary metrics
Total assets (EOY)
$5267.1M
-19.4% from 2016
Total participants
99,721
-1.0% from 2016
Average account balance
$53,687
-17.4% from 2016
Annual return
11.32%
-10.48 pp from 2016
Benchmarks
Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants>=10,000
Cohort85 peers
Snapshot2016
43
Participant deferral / active EE
$6,148
median $6,390
46
Employer contribution / active EE
$3,318
median $3,656
75
Participation rate
97.9%
median 94.0%
14
Avg account balance
$53,687
median $129,246
71
Admin fee / account holder
$10
median $52
74
Annual return
11.32%
median 8.87%
Overall peer rank
54of 100
54th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$24.71B
Average account balance
Total assets / participants with a balance (line 6g)
$172K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
143,849
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
98.4%
Contributions (total)
Employer and participant dollars contributed each year
$2.20B
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
+18.95%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$51
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 5 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 84-0467907 | Recordkeeping | $725,128 |
Service code 26 · EIN 84-1532243 | Advisory (Participants) | $182,123 |
CHARLES SCHWAB & CO., INC2+ years Service code 33 · EIN 94-1737782 | Direct payment from the plan; Securit... | $13,979 |
STRATOS WEALTH PARTNERS LTD2+ years Service code 26 · EIN 27-5273468 | Advisory (Participants) | $11,653 |
Service code 59 | Shareholder Servicing | $0 |
Top hat statement on fileNQDC
Filed September 18, 2018
Plan administrator
Plan administrator name— Sign in and upgrade to view
One Apple Park Way, MS 104-1BEN
Cupertino State: CA Zip Code: 95014
Plans declared (1)
- Apple Inc. Deferred Compensation Plan3,200 emp
Plan features & details
Pension benefit codes2A2E2F2G2J2K2R2S2T3F3H
Plan features
- 2AAge/service weighted or new comparability planAge/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
- 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.
- 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
3 tripped
- OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
- 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
$936K
$12 / participant
- Investment mgmt$211K22.5%
- Contract admin$725K77.5%
% of EOY assets
0.018%
all-in expense ratio
Categories reported
2 / 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