Microchip Technology Incorporated 401(k) Review & Grade
Microchip Technology Incorporated Savings Plan
Chandler, AZManufacturing6,856 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,085Employer $ per active participant
$11,238Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$1.6BNet plan assets, end of year
$185,515Average balance per account
Score breakdown
- Employer generosity6.3 / 5013th percentile for employer $ per participant
- Low cost22.1 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving13.2 / 1588th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 89th |
| Employee saving | 88th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $411 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Microchip Technology Incorporated put in about $1,085 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.
- 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 | $7,442,713 |
| Participant (employee) contributions | $77,055,255 |
| Other contributions (incl. rollovers in) | $7,971,656 |
| Administrative expenses paid from the plan | $493,531 |
| Contract administrator fees | $1,800 |
| Investment advisory & management fees | $339,160 |
| Benefits paid out | $133,582,405 |
| Net assets, start / end of year | $1.4B / $1.6B |
| Active participants, start / end of year | 7,051 / 6,662 |
| Participants with account balances | 8,680 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $339,160 reported compensation |
| Fidelity Investments Institutional | $158,723 reported compensation |
| Cbiz Cpas P.C. | $23,320 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251006173014NAL0002068067001, received 2025-10-06, EIN 86-0629024, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.