Retirement plan

VERTEX PHARMACEUTICALS, INCORPORATED 401(K) PLAN

Name: VERTEX PHARMACEUTICALS INCORPORATED - VERTEX PHARMACEUTICALS, INCORPORATED 401(K) PLAN (2016) Form 5500
Creator: VERTEX PHARMACEUTICALS INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VERTEX PHARMACEUTICALS, INCORPORATED 401(K) PLAN, VERTEX PHARMACEUTICALS INCORPORATED

VERTEX PHARMACEUTICALS INCORPORATEDEIN 04-3039129Plan #001PY 2016

50 NORTHERN AVE - BOSTON, MA 02210617-341-6100vrtx.comLinkedIn1001-5000 employeesbiotechnology

Prospect flagsLow returnsCorrective distributions

How to read this page

Total assets (EOY)

$386.8M

-1.2% from 2016

Total participants

2,756

-4.2% from 2016

Average account balance

$143,887

+3.6% from 2016

Annual return

-0.06%

+2.12 pp from 2016

Benchmarks

See 664 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort664 peers

Snapshot2016

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$1.31B

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$202K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

6,483

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

94.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$121.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$24K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+17.84%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
WAINWRIGHT INVESTMENT COUNSEL, LLC2+ years Filed as: WAINWRIGHT INVESTMENT COUNSEL LLC Service code 27 · EIN 04-3445274	Advisory (Plan)	$66,458
KIRKLAND ALBRECHT & FREDRICKSON LLC1 year Filed as: KIRKLAND ALBRECHT & FREDRICKSON, L Service code 10 · EIN 04-3121055	Accounting	$16,217
WELLS FARGO BANK, N.A.2+ years Filed as: WELLS FARGO ADVISORS Service code 26 · EIN 48-1305000	Advisory (Participants)	$8,000
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Service code 37 · EIN 04-2647786	Loan Processing	-$207,099

Plan features & details

Pension benefit codes2G2J2K2T3I2F

Plan features

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.
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.
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Plan-level admin expenses are zero - fees are likely paid at the master-trust level rather than the individual plan.

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: CITRIN COOPERMAN & COMPANY, LLP
Auditor EIN: 222428965
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$143,887

$85,635+68.0%

$123,894+16.1%

$63,975+124.9%

Participation rate

96.0%

74.9%+21.1pp

81.4%+14.6pp

71.1%+24.9pp

Annual return

-0.06%

15.74%-15.8pp

47.52%-47.6pp

48.65%-48.7pp

Employer contribution / active EE

$6,560

$3,076+113.2%

$4,617+42.1%

$2,182+200.7%

Participant deferral / active EE

$12,656

$5,667+123.3%

$5,984+111.5%

$3,356+277.1%

Admin fee / account holder

-$43

$75-157.8%

$8,357-100.5%

$70-161.5%

Provider

Service type

Compensation

WAINWRIGHT INVESTMENT COUNSEL, LLC2+ years

Filed as: WAINWRIGHT INVESTMENT COUNSEL LLC

Service code 27 · EIN 04-3445274

Advisory (Plan)

$66,458

KIRKLAND ALBRECHT & FREDRICKSON LLC1 year

Filed as: KIRKLAND ALBRECHT & FREDRICKSON, L

Service code 10 · EIN 04-3121055

Accounting

$16,217

WELLS FARGO BANK, N.A.2+ years

Filed as: WELLS FARGO ADVISORS

Service code 26 · EIN 48-1305000

Advisory (Participants)

$8,000

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Service code 37 · EIN 04-2647786

Loan Processing

-$207,099

VERTEX PHARMACEUTICALS, INCORPORATED 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VERTEX PHARMACEUTICALS, INCORPORATED 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion