Retirement plan

CORNING INCORPORATED INVESTMENT PLAN

Name: CORNING INCORPORATED - CORNING INCORPORATED INVESTMENT PLAN (2023) 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 2023

ONE RIVERFRONT PLAZA, MP-HQ-01-E03 - CORNING, NY 14831607-974-6000LinkedIn1-10 employeesglass, ceramics & concrete

Other plans on this EIN

2 filings

#001Retirement-$2.76B assets #006Retirement-$417.7M assets

Prospect flagsCorrective 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.

Open the filing PDF

How to read this page

Total assets (EOY)

$3754.2M

+9.9% from 2022

Total participants

16,699

-7.9% from 2022

Average account balance

$228,149

+18.1% from 2022

Annual return

15.61%

+30.71 pp from 2022

Benchmarks

See 93 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants>=10,000

Cohort93 peers

Snapshot2023

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

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 8 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 15 · EIN 84-0467907	Recordkeeping	$814,355
CONDUENT HR CONSULTING, LLC1 year Filed as: CONDUENT INCORPORATED Service code 15 · EIN 81-2983623	Recordkeeping	$85,680
THE BANK OF NEW YORK MELLON1 year Service code 18 · EIN 13-5160382	Custodial (other than securities); Di...	$76,937
MERCER1 year Filed as: MERCER INVESTMENTS LLC Service code 27 · EIN 30-0282430	Advisory (Plan)	$46,200
INSERO & CO. CPAS, LLP1 year Filed as: INSERO & CO CPA'S LLP Service code 10 · EIN 47-5324570	Accounting	$34,300
ADP BROKER-DEALER1 year Filed as: ADP RETIREMENT SERVICES INC Service code 49 · EIN 75-2772182	Other Services	$27,000
HARTER SECREST & EMERY LLP1 year Service code 16 · EIN 16-0766172	Consulting	$25,065
QUARTIER PRINTING CO INC1 year Service code 99 · EIN 16-1002280	Other Fees	$12,653

Plan features & details

Pension benefit codes2J2K2S2G2T2E2F2O

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.

Opportunity flags

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$1.1M

$94 / participant

Recordkeeping$900K80.2%
Trustee / custodial$77K6.9%
Investment mgmt$46K4.1%
Legal$25K2.2%
Other / not subdivided$74K6.6%

% of EOY assets

0.030%

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: $34,300
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$228,149

$161,802+41.0%

$96,544+136.3%

$96,393+136.7%

Participation rate

98.0%

92.5%+5.5pp

76.0%+22.0pp

71.3%+26.7pp

Annual return

15.61%

18.41%-2.8pp

25.84%-10.2pp

22.88%-7.3pp

Employer contribution / active EE

$4,291

$5,381-20.3%

$2,965+44.7%

$3,238+32.5%

Participant deferral / active EE

$12,120

$8,927+35.8%

$4,851+149.8%

$5,455+122.2%

Admin fee / account holder

$68

$61+12.0%

$8,252-99.2%

$74-7.7%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 15 · EIN 84-0467907

Recordkeeping

$814,355

CONDUENT HR CONSULTING, LLC1 year

Filed as: CONDUENT INCORPORATED

Service code 15 · EIN 81-2983623

Recordkeeping

$85,680

THE BANK OF NEW YORK MELLON1 year

Service code 18 · EIN 13-5160382

Custodial (other than securities); Di...

$76,937

MERCER1 year

Filed as: MERCER INVESTMENTS LLC

Service code 27 · EIN 30-0282430

Advisory (Plan)

$46,200

INSERO & CO. CPAS, LLP1 year

Filed as: INSERO & CO CPA'S LLP

Service code 10 · EIN 47-5324570

Accounting

$34,300

ADP BROKER-DEALER1 year

Filed as: ADP RETIREMENT SERVICES INC

Service code 49 · EIN 75-2772182

Other Services

$27,000

HARTER SECREST & EMERY LLP1 year

Service code 16 · EIN 16-0766172

Consulting

$25,065

QUARTIER PRINTING CO INC1 year

Service code 99 · EIN 16-1002280

Other Fees

$12,653

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