Wolfspeed, Inc. 401(k) Review & Grade
Wolfspeed, Inc. 401(k) Plan
Durham, NCManufacturing4,222 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,065Employer $ per active participant
$8,992Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$504.9MNet plan assets, end of year
$87,852Average balance per account
Score breakdown
- Employer generosity22.2 / 5044th percentile for employer $ per participant
- Low cost11.3 / 2545th percentile for low admin cost vs. same-size plans
- Employee saving11.1 / 1574th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 45th |
| Employee saving | 74th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $19,590 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Wolfspeed put in about $3,065 per active participant, below the typical peer ($3,452). Any match is still an instant return, so contribute enough to get all of it.
- 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 | $12,938,996 |
| Participant (employee) contributions | $37,964,717 |
| Other contributions (incl. rollovers in) | $6,407,358 |
| Administrative expenses paid from the plan | $682,981 |
| Contract administrator fees | $1,500 |
| Investment advisory & management fees | $190,984 |
| Other admin expenses | $25,000 |
| Benefits paid out | $69,503,811 |
| Net assets, start / end of year | $448.7M / $504.9M |
| Active participants, start / end of year | 4,437 / 4,007 |
| Participants with account balances | 5,747 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Romeo, Wiggins & Company, L.L.P. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $472,698 reported compensation |
| Strategic Advisors, Inc. | $190,984 reported compensation |
| Mycio Wealth Partners LLC | $25,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250909091151NAL0012796051001, received 2025-09-09, EIN 56-1572719, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.