Retirement plan

VERTEX PHARMACEUTICALS INCORPORATED 401(K) PLAN

Name: VERTEX PHARMACEUTICALS - VERTEX PHARMACEUTICALS INCORPORATED 401(K) PLAN (2017) Form 5500
Creator: VERTEX PHARMACEUTICALS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VERTEX PHARMACEUTICALS INCORPORATED 401(K) PLAN, VERTEX PHARMACEUTICALS

VERTEX PHARMACEUTICALSEIN 04-3039129Plan #001PY 2017

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

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$502.9M

-1.2% from 2016

Total participants

2,927

-4.2% from 2016

Average account balance

$176,075

+3.6% from 2016

Annual return

29.73%

+2.12 pp from 2016

Benchmarks

See 662 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort662 peers

Snapshot2017

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
WAINWRIGHT INVESTMENT COUNSEL, LLC3+ years Filed as: WAINWRIGHT INVESTMENT COUNSEL LLC Service code 27 · EIN 04-3445274	Advisory (Plan)	$68,667
WELLS FARGO BANK, N.A.3+ years Filed as: WELLS FARGO ADVISORS Service code 27 · EIN 48-1305000	Advisory (Plan)	$20,000
CITRIN COOPERMAN1 year Service code 10 · EIN 22-2428965	Accounting	$16,405
FIDELITY INVESTMENTS INSTITUTIONAL3+ years Service code 37 · EIN 04-2647786	Loan Processing	-$208,460

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

1 tripped

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

$176,075

$96,458+82.5%

$136,298+29.2%

$77,958+125.9%

Participation rate

96.2%

75.4%+20.8pp

81.9%+14.3pp

71.6%+24.5pp

Annual return

29.73%

23.78%+6.0pp

5156.27%-5126.5pp

20.87%+8.9pp

Employer contribution / active EE

$6,513

$3,144+107.2%

$4,696+38.7%

$2,310+181.9%

Participant deferral / active EE

$12,666

$5,902+114.6%

$6,247+102.8%

$3,537+258.2%

Admin fee / account holder

-$36

$80-144.9%

$9,244-100.4%

$97-137.1%

Provider

Service type

Compensation

WAINWRIGHT INVESTMENT COUNSEL, LLC3+ years

Filed as: WAINWRIGHT INVESTMENT COUNSEL LLC

Service code 27 · EIN 04-3445274

Advisory (Plan)

$68,667

WELLS FARGO BANK, N.A.3+ years

Filed as: WELLS FARGO ADVISORS

Service code 27 · EIN 48-1305000

Advisory (Plan)

$20,000

CITRIN COOPERMAN1 year

Service code 10 · EIN 22-2428965

Accounting

$16,405

FIDELITY INVESTMENTS INSTITUTIONAL3+ years

Service code 37 · EIN 04-2647786

Loan Processing

-$208,460

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