Flextronics International USA, Inc. 401(k) Review & Grade
Flex 401(k) Plan
Austin, TXManufacturing8,917 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,046Employer $ per active participant
$5,390Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$1.2BNet plan assets, end of year
$124,881Average balance per account
Score breakdown
- Employer generosity14.1 / 5028th percentile for employer $ per participant
- Low cost16.6 / 2566th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1541th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-23 pts3 issues reported on the filing
Total score17 / 100 · Grade F
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 28th |
| Lower admin cost | 66th |
| Employee saving | 41th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($17,999,949 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $7,753 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Flextronics International USA put in about $2,046 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $18,240,895 |
| Participant (employee) contributions | $48,064,485 |
| Other contributions (incl. rollovers in) | $6,441,839 |
| Administrative expenses paid from the plan | $837,990 |
| Contract administrator fees | $900 |
| Investment advisory & management fees | $402,623 |
| Other admin expenses | $78,920 |
| Benefits paid out | $119,052,699 |
| Net assets, start / end of year | $1.1B / $1.2B |
| Active participants, start / end of year | 7,310 / 10,524 |
| Participants with account balances | 9,421 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Holthouse Carlin Van Trigt LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $362,429 reported compensation |
| Financial Engines | $247,112 reported compensation |
| Sageview Advisory GR | $78,920 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009150839NAL0004025827001, received 2025-10-09, EIN 94-3061570, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.