Retirement plan

MICRON TECHNOLOGY INC. RETIREMENT AT MICRON (RAM) PLAN

Name: MICRON TECHNOLOGY, INC. - MICRON TECHNOLOGY INC. RETIREMENT AT MICRON (RAM) PLAN (2021) Form 5500
Creator: MICRON TECHNOLOGY, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICRON TECHNOLOGY INC. RETIREMENT AT MICRON (RAM) PLAN, MICRON TECHNOLOGY, INC.

MICRON TECHNOLOGY, INC.EIN 75-1618004Plan #004PY 2021

8000 S FEDERAL WAY, PO BOX 6 - BOISE, ID 83707208-368-4000micron.comLinkedIn10001+ employeessemiconductors

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed December 6, 2016

Plan administrator

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8000 South Federal Way

Boise State: ID Zip Code: 83707

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Plans declared (1)

Micron Technology, Inc. Deferred Compensation Plan63 emp

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Total assets (EOY)

$3299.9M

+9.6% from 2020

Total participants

14,275

-5.7% from 2020

Average account balance

$232,551

+16.2% from 2020

Annual return

14.90%

-10.51 pp from 2020

Benchmarks

See 127 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants5,000-9,999

Cohort127 peers

Snapshot2021

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Analytics

Total assets (EOY)

Plan-year ending balance

$4.43B

Not enough data

1 years with asset history on file

Average account balance

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

$291K

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.

15,203

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.

96.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$255.40M

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

+18.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$109

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
STRATEGIC ADVISORS, INC.7+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$627,320
FIDELITY INVESTMENTS INSTITUTIONAL7+ years Service code 37 · EIN 04-2647786	Loan Processing	$555,701
FIDELITY INVESTMENTS INSTITUTIONAL1 year Filed as: FIDELITY INVESTMENTS INSITUTIONAL Service code 60	Sub-TA Fees	$0
FIDELITY INVESTMENTS INSTITUTIONAL1 year Filed as: FIDELITY INVESTMENTS INTITUTIONAL Service code 60	Sub-TA Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3F2R

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.
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

$1.2M

$128 / participant

Investment mgmt$627K53.4%
Other / not subdivided$548K46.6%

% of EOY assets

0.036%

all-in expense ratio

Categories reported

1 / 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: MOSS ADAMS LLP
Auditor EIN: 910189318
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$232,551

$134,619+72.7%

$111,297+108.9%

$101,517+129.1%

Participation rate

99.1%

89.0%+10.1pp

77.3%+21.8pp

74.6%+24.5pp

Annual return

14.90%

17.96%-3.1pp

54.65%-39.7pp

21.00%-6.1pp

Employer contribution / active EE

$7,518

$3,829+96.3%

$2,731+175.3%

$2,973+152.9%

Participant deferral / active EE

$15,254

$6,572+132.1%

$4,487+239.9%

$4,873+213.0%

Admin fee / account holder

$83

$86-4.0%

$7,964-99.0%

$139-40.6%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.7+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$627,320

FIDELITY INVESTMENTS INSTITUTIONAL7+ years

Service code 37 · EIN 04-2647786

Loan Processing

$555,701

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Filed as: FIDELITY INVESTMENTS INSITUTIONAL

Service code 60

Sub-TA Fees

FIDELITY INVESTMENTS INSTITUTIONAL1 year

Filed as: FIDELITY INVESTMENTS INTITUTIONAL

Service code 60

Sub-TA Fees

MICRON TECHNOLOGY INC. RETIREMENT AT MICRON (RAM) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICRON TECHNOLOGY INC. RETIREMENT AT MICRON (RAM) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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