Retirement plan

HUAWEI USA 401(K) PLAN

Name: FUTUREWEI TECHNOLOGIES, INC. - HUAWEI USA 401(K) PLAN (2024) Form 5500
Creator: FUTUREWEI TECHNOLOGIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HUAWEI USA 401(K) PLAN, FUTUREWEI TECHNOLOGIES, INC.

FUTUREWEI TECHNOLOGIES, INC.EIN 75-2923245Plan #001PY 2024

2560 N 1ST STREET, SUITE 200 - SAN JOSE, CA 95131408-330-5000futurewei.comLinkedIn201-500 employeestelecommunications

Prospect flagsHigh assets / participantFailed to transmit contributionsCorrective distributionsWind-down / frozen

How to read this page

Total assets (EOY)

$227.5M

+8.6% from 2023

Total participants

867

-12.4% from 2023

Average account balance

$262,425

+24.0% from 2023

Annual return

16.91%

-1.83 pp from 2023

Benchmarks

See 6,285 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort6,285 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$227.52M

Not enough data

1 years with asset history on file

Average account balance

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

$262K

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.

867

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.39M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$36K

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

+16.91%

Not enough data

1 years with return on file

Admin fee / account holder

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

$154

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 5 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS10+ years Service code 12 · EIN 13-3689044	Investment management; Recordkeeping ...	$60,610
CAPFINANCIAL PARTNERS LLC10+ years Filed as: CAPFINANCIAL PARTNERS, LLC Service code 16 · EIN 26-0058143	Consulting	$41,250
MY GROUP LLC1 year Filed as: HM&M GROUP, LLC Service code 10 · EIN 75-2409112	Accounting	$26,125
CHARLES SCHWAB & CO., INC.10+ years Service code 33 · EIN 94-1737782	Securities brokerage; Securities brok...	$1,313
NATIONAL FINANCIAL SERVICES10+ years Service code 33 · EIN 04-3523567	Securities brokerage; Securities brok...	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3D3H

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.
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.
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

4 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.
InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II

Admin total

$134K

$898 / participant

Recordkeeping$61K45.3%
Investment mgmt$47K35.2%
Other / not subdivided$26K19.5%

% of EOY assets

0.059%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HM&M GROUP, LLC
Auditor EIN: 752409112
Audit fees: $26,125
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$262,425

$101,591+158.3%

$147,096+78.4%

$74,429+252.6%

Participation rate

100.0%

75.5%+24.5pp

82.2%+17.8pp

67.2%+32.8pp

Annual return

16.91%

8746.45%-8729.5pp

419.75%-402.8pp

1368.38%-1351.5pp

Employer contribution / active EE

$8,413

$3,813+120.7%

$4,936+70.4%

$2,625+220.5%

Participant deferral / active EE

$27,744

$7,302+279.9%

$8,071+243.8%

$4,348+538.1%

Admin fee / account holder

$154

$1,750-91.2%

$13,005-98.8%

$1,944-92.1%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS10+ years

Service code 12 · EIN 13-3689044

Investment management; Recordkeeping ...

$60,610

CAPFINANCIAL PARTNERS LLC10+ years

Filed as: CAPFINANCIAL PARTNERS, LLC

Service code 16 · EIN 26-0058143

Consulting

$41,250

MY GROUP LLC1 year

Filed as: HM&M GROUP, LLC

Service code 10 · EIN 75-2409112

Accounting

$26,125

CHARLES SCHWAB & CO., INC.10+ years

Service code 33 · EIN 94-1737782

Securities brokerage; Securities brok...

$1,313

NATIONAL FINANCIAL SERVICES10+ years

Service code 33 · EIN 04-3523567

Securities brokerage; Securities brok...

HUAWEI USA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HUAWEI USA 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