Retirement plan

CORNING INCORPORATED INVESTMENT PLAN

Name: CORNING INCORPORATED - CORNING INCORPORATED INVESTMENT PLAN (2024) Form 5500
Creator: CORNING INCORPORATED
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CORNING INCORPORATED INVESTMENT PLAN, CORNING INCORPORATED

CORNING INCORPORATEDEIN 16-0393470Plan #002PY 2024

ONE RIVERFRONT PLAZA - CORNING, NY 14831607-974-6000LinkedIn1-10 employeesglass, ceramics & concrete

Other plans on this EIN

2 filings

#001Retirement-$2.84B assets #006Retirement-$458.8M assets

Prospect flagsHigh assets / participantCorrective distributions

Top hat statement on fileNQDC

Filed July 21, 2009 (most recent of 3 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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How to read this page

Total assets (EOY)

$4063.2M

+8.2% from 2023

Total participants

16,330

-2.2% from 2023

Average account balance

$256,355

+12.4% from 2023

Annual return

15.09%

-0.52 pp from 2023

Benchmarks

See 98 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants>=10,000

Cohort98 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$4.06B

Not enough data

1 years with asset history on file

Average account balance

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

$256K

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.

15,850

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.

95.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$186.59M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+15.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$63

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 8 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 15 · EIN 84-0467907	Recordkeeping	$650,152
THE BANK OF NEW YORK MELLON2 years Service code 18 · EIN 13-5160382	Custodial (other than securities); Di...	$124,984
HARTER SECREST & EMERY LLP2 years Service code 16 · EIN 16-0766172	Consulting	$51,998
MERCER2 years Filed as: MERCER INVESTMENTS LLC Service code 27 · EIN 30-0282430	Advisory (Plan)	$43,200
WILLIS TOWERS WATSON US LLC1 year Filed as: WILLIS TOWERS WATSON Service code 16 · EIN 98-0352587	Consulting	$37,234
INSERO & CO. CPAS, LLP2 years Filed as: INSERO & CO CPA'S LLP Service code 10 · EIN 47-5324570	Accounting	$35,000
CEM BENCHMARKING1 year Service code 16 · EIN 65-1172185	Consulting	$30,600
ADP BROKER-DEALER1 year Filed as: ADP RETIREMENT SERVICES INC. Service code 49 · EIN 75-2772182	Other Services	$27,000

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T2O3H

Plan features

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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
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.
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

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$1.0M

$85 / participant

Recordkeeping$650K64.9%
Trustee / custodial$125K12.5%
Investment mgmt$43K4.3%
Legal$52K5.2%
Other / not subdivided$131K13.1%

% of EOY assets

0.025%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: INSERO & CO. CPAS, LLP
Auditor EIN: 475324570
Audit fees: $35,000
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$256,355

$178,759+43.4%

$102,423+150.3%

$106,382+141.0%

Participation rate

95.9%

91.3%+4.6pp

76.5%+19.4pp

69.9%+26.0pp

Annual return

15.09%

17.23%-2.1pp

29.32%-14.2pp

17.37%-2.3pp

Employer contribution / active EE

$4,107

$5,750-28.6%

$3,023+35.9%

$3,364+22.1%

Participant deferral / active EE

$11,805

$9,466+24.7%

$5,053+133.6%

$5,569+112.0%

Admin fee / account holder

$63

$62+1.7%

$9,451-99.3%

$79-20.3%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 15 · EIN 84-0467907

Recordkeeping

$650,152

THE BANK OF NEW YORK MELLON2 years

Service code 18 · EIN 13-5160382

Custodial (other than securities); Di...

$124,984

HARTER SECREST & EMERY LLP2 years

Service code 16 · EIN 16-0766172

Consulting

$51,998

MERCER2 years

Filed as: MERCER INVESTMENTS LLC

Service code 27 · EIN 30-0282430

Advisory (Plan)

$43,200

WILLIS TOWERS WATSON US LLC1 year

Filed as: WILLIS TOWERS WATSON

Service code 16 · EIN 98-0352587

Consulting

$37,234

INSERO & CO. CPAS, LLP2 years

Filed as: INSERO & CO CPA'S LLP

Service code 10 · EIN 47-5324570

Accounting

$35,000

CEM BENCHMARKING1 year

Service code 16 · EIN 65-1172185

Consulting

$30,600

ADP BROKER-DEALER1 year

Filed as: ADP RETIREMENT SERVICES INC.

Service code 49 · EIN 75-2772182

Other Services

$27,000

CORNING INCORPORATED INVESTMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CORNING INCORPORATED INVESTMENT PLAN

Top hat statement on fileNQDC

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