Illumina, Inc. 401(k) Review & Grade
Illumina, Inc. 401(k) Plan
San Diego, CAProfessional, Scientific & Technical Services5,238 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,830Employer $ per active participant
$13,289Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.1BNet plan assets, end of year
$147,057Average balance per account
Score breakdown
- Employer generosity32.2 / 5064th percentile for employer $ per participant
- Low cost21.3 / 2585th percentile for low admin cost vs. same-size plans
- Employee saving11.5 / 1577th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 2,500–9,999 active participants (231 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 85th |
| Employee saving | 77th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Corrective distributions: the plan refunded $5,136 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Illumina put in about $3,830 per active participant, more than the typical peer ($2,951). 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 | $20,063,656 |
| Participant (employee) contributions | $69,613,222 |
| Other contributions (incl. rollovers in) | $10,536,152 |
| Administrative expenses paid from the plan | $387,513 |
| Contract administrator fees | $3,300 |
| Investment advisory & management fees | $54,000 |
| Benefits paid out | $70,690,899 |
| Net assets, start / end of year | $924.6M / $1.1B |
| Active participants, start / end of year | 5,389 / 5,088 |
| Participants with account balances | 7,500 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Moss Adams LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $305,637 reported compensation |
| Sageview Advisory Group, LLC | $54,000 reported compensation |
| Moss Adams LLP | $32,025 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250522164643NAL0002778387001, received 2025-05-22, EIN 33-0804655, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.