Retirement plan

ALIGN TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN

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

ALIGN TECHNOLOGY, INC.EIN 94-3267295Plan #001PY 2022

2820 ORCHARD PARKWAY - SAN JOSE, CA 95134408-470-1000align-tech.comLinkedIn1-10 employees

Prospect flagsLow returnsFailed to transmit contributionsFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$263.7M

-18.6% from 2016

Total participants

2,854

-18.9% from 2016

Average account balance

$94,708

+1.4% from 2016

Annual return

-17.31%

-8.99 pp from 2016

Benchmarks

See 900 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort900 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$412.06M

Not enough data

1 years with asset history on file

Average account balance

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

$148K

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.

2,788

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.

97.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$42.33M

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

+18.09%

Not enough data

1 years with return on file

Admin fee / account holder

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

$148

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	$189,456
STRATEGIC ADVISORS, INC.8+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$94,289
SAGEVIEW ADVISORY GROUP, LLC7 years Filed as: SAGEVIEW ADVISORY GROUP Service code 27 · EIN 33-0818667	Advisory (Plan)	$54,317
MOSS ADAMS LLP6 years Filed as: MOSS ADAMS Service code 10 · EIN 91-0189318	Accounting	$29,400

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3F3H3D

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.
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

4 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$367K

$166 / participant

Investment mgmt$94K25.7%
Other / not subdivided$273K74.3%

% of EOY assets

0.139%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$94,708

$95,388-0.7%

$125,401-24.5%

$77,906+21.6%

Participation rate

96.8%

78.6%+18.2pp

82.4%+14.5pp

73.7%+23.1pp

Annual return

-17.31%

116.19%-133.5pp

572.53%-589.8pp

12.16%-29.5pp

Employer contribution / active EE

$4,391

$3,666+19.8%

$4,816-8.8%

$2,846+54.3%

Participant deferral / active EE

$14,223

$7,711+84.5%

$7,448+91.0%

$4,805+196.0%

Admin fee / account holder

$132

$119+11.1%

$10,008-98.7%

$133-0.4%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL8+ years

Service code 37 · EIN 04-2647786

Loan Processing

$189,456

STRATEGIC ADVISORS, INC.8+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$94,289

SAGEVIEW ADVISORY GROUP, LLC7 years

Filed as: SAGEVIEW ADVISORY GROUP

Service code 27 · EIN 33-0818667

Advisory (Plan)

$54,317

MOSS ADAMS LLP6 years

Filed as: MOSS ADAMS

Service code 10 · EIN 91-0189318

Accounting

$29,400

ALIGN TECHNOLOGY, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

ALIGN TECHNOLOGY, INC. 401(K) PROFIT SHARING 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