Retirement plan

WOLFSPEED, INC. 401(K) PLAN

Name: WOLFSPEED, INC. - WOLFSPEED, INC. 401(K) PLAN (2022) Form 5500
Creator: WOLFSPEED, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WOLFSPEED, INC. 401(K) PLAN, WOLFSPEED, INC.

WOLFSPEED, INC.EIN 56-1572719Plan #001PY 2022

4600 SILICON DRIVE - DURHAM, NC 27703919-407-5729wolfspeed.comLinkedIn1001-5000 employeessemiconductors

Prospect flagsLow returnsCorrective distributions

Top hat statement on fileNQDC

Filed July 6, 2006

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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Total assets (EOY)

$365.3M

-10.5% from 2016

Total participants

5,453

+2.2% from 2016

Average account balance

$69,503

-12.2% from 2016

Annual return

-17.93%

-6.15 pp from 2016

Benchmarks

See 811 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort811 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$504.89M

Not enough data

1 years with asset history on file

Average account balance

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

$88K

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.

5,747

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.

98.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$50.90M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+16.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$119

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
FIDELITY INVESTMENTS INSTITUTIONAL8+ years Service code 37 · EIN 04-2647786	Loan Processing	$358,201
STRATEGIC ADVISORS, INC.8+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$127,122
MYCIO WEALTH PARTNERS LLC2 years Service code 27 · EIN 20-2611371	Advisory (Plan)	$31,250
ROMEO WIGGINS & COMPANY, LLP1 year Filed as: ROMEO, WIGGINS & COMPANY, LLP Service code 10 · EIN 56-1627242	Accounting	$10,700

Plan features & details

Pension benefit codes2K2S2T3F3H2E2F2G2J3D2R

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
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.
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

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

Admin total

$527K

$130 / participant

Investment mgmt$127K24.1%
Other / not subdivided$400K75.9%

% of EOY assets

0.144%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ROMEO, WIGGINS & COMPANY, L.L.P.
Auditor EIN: 561627242
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,503

$130,052-46.6%

$86,717-19.9%

$77,906-10.8%

Participation rate

95.2%

85.9%+9.2pp

76.6%+18.6pp

73.7%+21.5pp

Annual return

-17.93%

-12.73%-5.2pp

35.97%-53.9pp

12.16%-30.1pp

Employer contribution / active EE

$2,665

$3,214-17.1%

$2,837-6.1%

$2,846-6.4%

Participant deferral / active EE

$7,537

$5,741+31.3%

$4,657+61.8%

$4,805+56.8%

Admin fee / account holder

$100

$132-24.0%

$7,494-98.7%

$133-24.4%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL8+ years

Service code 37 · EIN 04-2647786

Loan Processing

$358,201

STRATEGIC ADVISORS, INC.8+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$127,122

MYCIO WEALTH PARTNERS LLC2 years

Service code 27 · EIN 20-2611371

Advisory (Plan)

$31,250

ROMEO WIGGINS & COMPANY, LLP1 year

Filed as: ROMEO, WIGGINS & COMPANY, LLP

Service code 10 · EIN 56-1627242

Accounting

$10,700

WOLFSPEED, INC. 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WOLFSPEED, INC. 401(K) 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