Ionis Pharmaceuticals, Inc. 401(k) Review & Grade
Ionis Pharmaceuticals 401(k) Plan
Carlsbad, CAProfessional, Scientific & Technical Services970 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$9,608Employer $ per active participant
$19,500Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$316.0MNet plan assets, end of year
$224,085Average balance per account
Score breakdown
- Employer generosity45.1 / 5090th percentile for employer $ per participant
- Low cost23.4 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving14.7 / 1598th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score93 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 90th |
| Lower admin cost | 94th |
| Employee saving | 98th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Ionis Pharmaceuticals put in about $9,608 per active participant, more than the typical peer ($3,082). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $9,319,779 |
| Participant (employee) contributions | $18,914,697 |
| Other contributions (incl. rollovers in) | $4,659,583 |
| Administrative expenses paid from the plan | $74,452 |
| Contract administrator fees | $1,200 |
| Investment advisory & management fees | $132,510 |
| Benefits paid out | $17,217,088 |
| Net assets, start / end of year | $254.8M / $316.0M |
| Active participants, start / end of year | 897 / 1,043 |
| Participants with account balances | 1,410 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | JGD & Associates LLP |
Largest service providers (Schedule C)
| First Light Retirement LLC | $132,510 reported compensation |
| Fidelity Investments Institutional | −$58,058 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250825132852NAL0003932163001, received 2025-08-25, EIN 33-0336973, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.