Seagate U.S. LLC 401(k) Review & Grade
Seagate 401(k) Plan
Fremont, CAManufacturing3,154 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,464Employer $ per active participant
$16,211Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$2.3BNet plan assets, end of year
$340,013Average balance per account
Score breakdown
- Employer generosity25.1 / 5050th percentile for employer $ per participant
- Low cost23.2 / 2593th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1598th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 93th |
| Employee saving | 98th |
| Peers that auto-enroll | 70% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
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
- Seagate U.S. put in about $3,464 per active participant, more than the typical peer ($3,452). 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 | $10,928,428 |
| Participant (employee) contributions | $51,136,517 |
| Other contributions (incl. rollovers in) | $2,291,356 |
| Administrative expenses paid from the plan | $517,640 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $244,892 |
| Other admin expenses | $129,891 |
| Benefits paid out | $277,893,761 |
| Net assets, start / end of year | $2.1B / $2.3B |
| Active participants, start / end of year | 3,205 / 3,104 |
| Participants with account balances | 6,768 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $242,548 reported compensation |
| Fidelity Investments Institutional | $108,057 reported compensation |
| Callan | $81,983 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007114019NAL0004707169001, received 2025-10-07, EIN 77-0545987, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.