Retirement plan

APPLE 401(K) PLAN

APPLE INC.EIN 94-2404110Plan #001PY 2019
ONE APPLE PARK WAY, MS 104-1BEN - CUPERTINO, CA 95014408-974-3833apple.comLinkedIn10001+ employeesconsumer electronics
Prospect flagsCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(408) 974-3833
Plan administrator signer
GRACE MUNSON
Signed 07/29/2020

Summary metrics

Total assets (EOY)
$10203.6M
-19.4% from 2016
Total participants
123,297
-1.0% from 2016
Average account balance
$83,968
-17.4% from 2016
Annual return
27.23%
-10.48 pp from 2016

Benchmarks

Peer group
Industry33 - Manufacturing
Plan typeDefined contribution
Participants>=10,000
Cohort89 peers
Snapshot2019
Participant deferral / active EE
$8,159
median $6,919
Employer contribution / active EE
$4,363
median $4,009
Participation rate
98.0%
median 94.9%
Avg account balance
$83,968
median $132,497
Admin fee / account holder
$28
median $47
Annual return
27.23%
median 22.32%
Overall peer rank
59th 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 10 of 11 by compensation
ProviderService typeCompensation
Service code 15
8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111
Recordkeeping
$1,469,358
Service code 26 · EIN 47-2614791
Advisory (Participants)
$1,047,064
Service code 26 · EIN 84-1532243
Advisory (Participants)
$775,834
Service code 33 · EIN 94-1737782
Securities brokerage commissions and ...
$56,420
Service code 26 · EIN 27-5273468
Advisory (Participants)
$33,374
Service code 16
3071 PEARL ROAD · MEDINA, OH 44256
Consulting
$21,900
Service code 20 · EIN 84-1455663
Trustee (individual)
$19,756
Service code 26 · EIN 83-2488906
Advisory (Participants)
$13,579
Service code 26 · EIN 20-1665305
Advisory (Participants)
$8,067
Service code 26 · EIN 43-1270780
Advisory (Participants)
$6,525

Top hat statement on fileNQDC

Filed September 18, 2018

Plan administrator

Plans declared (1)

  • Apple Inc. Deferred Compensation Plan3,200 emp

Plan features & details

Pension benefit codes2A2E2F2G2J2K2R2S2T3F3H
Plan features
  • 2A
    Age/service weighted or new comparability plan
    Age/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).
  • 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.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

1 tripped
  • ComplianceCorrective distributions

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

Expense breakdown

Schedule H Part II
Admin total
$3.3M
$37 / participant
  • Investment mgmt$2M54.5%
  • Contract admin$1M44.0%
  • Other / not subdivided$51K1.5%
% of EOY assets
0.033%
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
ERNST & YOUNG LLP
Auditor EIN
346565596
Audit fees
(not subdivided)
Opinion code
Disclaimer