Retirement plan

WORKDAY, INC. 401(K) PLAN

Name: WORKDAY, INC. - WORKDAY, INC. 401(K) PLAN (2023) Form 5500
Creator: WORKDAY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WORKDAY, INC. 401(K) PLAN, WORKDAY, INC.

WORKDAY, INC.EIN 20-2480422Plan #001PY 2023

6110 STONERIDGE MALL RD. - PLEASANTON, CA 94588925-951-9000workday.comLinkedIn10001+ employeescomputer software

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$2001.9M

-39.1% from 2016

Total participants

14,830

-21.2% from 2016

Average account balance

$141,696

-11.5% from 2016

Annual return

24.77%

-12.39 pp from 2016

Benchmarks

See 103 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants>=10,000

Cohort103 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.61B

Not enough data

1 years with asset history on file

Average account balance

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

$174K

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.

14,983

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.

94.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$320.89M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$25K

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

+20.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$88

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
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	$581,998
STRATEGIC ADVISORS, INC.6 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$331,641
NEWFRONT RETIREMENT SERVICES INC1 year Filed as: NEWFRONT RETIREMENT SERVICES, INC. Service code 16 · EIN 80-0833114	Consulting	$70,192
THE SEGAL COMPANY2 years Filed as: THE SEGAL COMPANY INC Service code 16 · EIN 94-1503999	Consulting	$29,016

Plan features & details

Pension benefit codes2E2F2G2J3F3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$990K

$82 / participant

Recordkeeping$557K56.3%
Investment mgmt$332K33.5%
Contract admin$2K0.2%
Other / not subdivided$99K10.0%

% of EOY assets

0.049%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MILLER, KAPLAN, ARASE LLP
Auditor EIN: 952036255
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$141,696

$106,994+32.4%

$135,998+4.2%

$96,393+47.0%

Participation rate

94.2%

72.5%+21.7pp

81.9%+12.3pp

71.3%+22.9pp

Annual return

24.77%

26.64%-1.9pp

68.37%-43.6pp

22.88%+1.9pp

Employer contribution / active EE

$5,262

$3,391+55.2%

$4,860+8.3%

$3,239+62.5%

Participant deferral / active EE

$18,466

$7,968+131.8%

$7,761+137.9%

$5,455+238.5%

Admin fee / account holder

$70

$79-11.4%

$10,769-99.3%

$74-5.2%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$581,998

STRATEGIC ADVISORS, INC.6 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$331,641

NEWFRONT RETIREMENT SERVICES INC1 year

Filed as: NEWFRONT RETIREMENT SERVICES, INC.

Service code 16 · EIN 80-0833114

Consulting

$70,192

THE SEGAL COMPANY2 years

Filed as: THE SEGAL COMPANY INC

Service code 16 · EIN 94-1503999

Consulting

$29,016

WORKDAY, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WORKDAY, INC. 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