Retirement plan

QORVO 401(K) PLAN

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

QORVO US, INC.EIN 95-3654013Plan #003PY 2024

2300 NE BROOKWOOD PARKWAY - HILLSBORO, OR 97124503-615-9190LinkedIn1001-5000 employeesmanagement consulting

Prospect flagsFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$1245.5M

+12.8% from 2023

Total participants

6,346

+5.2% from 2023

Average account balance

$199,156

+7.3% from 2023

Annual return

16.57%

-3.17 pp from 2023

Benchmarks

See 840 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants1,000-4,999

Cohort840 peers

Snapshot2024

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$1.25B

Not enough data

1 years with asset history on file

Average account balance

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

$199K

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.

6,254

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.

98.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$73.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+16.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

$32

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 3 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 37 · EIN 04-2647786	Loan Processing	$100,519
CAPFINANCIAL PARTNERS LLC5 years Filed as: CAPFINANCIAL PARTNERS, LLC Service code 27 · EIN 26-0058143	Advisory (Plan)	$82,000
KBF CPAS LLP7 years Service code 10 · EIN 82-1030164	Accounting	$17,500

Plan features & details

Pension benefit codes2J2K2O2S2T2E2F2H3I3F3D2R

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
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.
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

2 tripped

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

$199K

$44 / participant

Recordkeeping$93K47.0%
Contract admin$6K2.9%
Other / not subdivided$100K50.1%

% of EOY assets

0.016%

all-in expense ratio

Categories reported

2 / 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: KBF CPAS - AUDIT, LLP
Auditor EIN: 332366711
Audit fees: $17,500
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$199,156

$110,282+80.6%

$102,438+94.4%

$199,768-0.3%

Participation rate

98.0%

86.3%+11.7pp

76.5%+21.5pp

72.0%+26.0pp

Annual return

16.57%

35.75%-19.2pp

29.37%-12.8pp

34.26%-17.7pp

Employer contribution / active EE

$4,224

$3,603+17.2%

$3,024+39.7%

$3,037+39.1%

Participant deferral / active EE

$11,841

$6,376+85.7%

$5,054+134.3%

$5,090+132.6%

Admin fee / account holder

$32

$122-74.0%

$9,448-99.7%

$269-88.2%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL10+ years

Service code 37 · EIN 04-2647786

Loan Processing

$100,519

CAPFINANCIAL PARTNERS LLC5 years

Filed as: CAPFINANCIAL PARTNERS, LLC

Service code 27 · EIN 26-0058143

Advisory (Plan)

$82,000

KBF CPAS LLP7 years

Service code 10 · EIN 82-1030164

Accounting

$17,500

QORVO 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

QORVO 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