Retirement plan

INFINERA 401(K) PLAN

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

INFINERA CORPORATIONEIN 77-0560433Plan #001PY 2023

6373 SAN IGNACIO AVENUE - SAN JOSE, CA 95119408-572-5293infinera.comLinkedIn1001-5000 employeestelecommunications

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$324.3M

-22.5% from 2016

Total participants

1,838

-10.5% from 2016

Average account balance

$182,526

-9.9% from 2016

Annual return

19.58%

-11.86 pp from 2016

Benchmarks

See 809 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort809 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$359.94M

Not enough data

1 years with asset history on file

Average account balance

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

$208K

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.

1,733

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.

95.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$25.36M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$21K

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

+15.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$123

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	$113,636
SAGEVIEW ADVISORY GROUP, LLC3 years Filed as: SAGEVIEW ADVISORY GROUP LLC Service code 27 · EIN 33-0818667	Advisory (Plan)	$85,086
MOSS ADAMS LLP1 year Filed as: MOSS ADAMS Service code 10 · EIN 91-0189318	Accounting	$20,618
STRATEGIC ADVISORS, INC.2 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$17,241

Plan features & details

Pension benefit codes2F2G2J2T3D2R

Plan features

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.
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.

Opportunity flags

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$236K

$185 / participant

Recordkeeping$113K47.8%
Investment mgmt$102K43.4%
Contract admin$3000.1%
Other / not subdivided$21K8.7%

% of EOY assets

0.073%

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: MOSS ADAMS LLP
Auditor EIN: 910189318
Audit fees: $20,618
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$182,526

$104,544+74.6%

$96,564+89.0%

$80,187+127.6%

Participation rate

95.2%

86.4%+8.8pp

76.0%+19.2pp

72.9%+22.3pp

Annual return

19.58%

21.79%-2.2pp

25.89%-6.3pp

40.40%-20.8pp

Employer contribution / active EE

$2,358

$3,527-33.2%

$2,967-20.5%

$2,980-20.9%

Participant deferral / active EE

$17,252

$6,170+179.6%

$4,852+255.6%

$5,016+243.9%

Admin fee / account holder

$133

$107+24.3%

$8,256-98.4%

$145-8.4%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

$113,636

SAGEVIEW ADVISORY GROUP, LLC3 years

Filed as: SAGEVIEW ADVISORY GROUP LLC

Service code 27 · EIN 33-0818667

Advisory (Plan)

$85,086

MOSS ADAMS LLP1 year

Filed as: MOSS ADAMS

Service code 10 · EIN 91-0189318

Accounting

$20,618

STRATEGIC ADVISORS, INC.2 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$17,241

INFINERA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INFINERA 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