Qorvo US, Inc. 401(k) Review & Grade
Qorvo 401(k) Plan
Hillsboro, ORManufacturing4,392 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,373Employer $ per active participant
$12,259Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$1.2BNet plan assets, end of year
$199,156Average balance per account
Score breakdown
- Employer generosity32.1 / 5064th percentile for employer $ per participant
- Low cost23.8 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving13.8 / 1592th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 95th |
| Employee saving | 92th |
| 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 $9,095 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Qorvo US put in about $4,373 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 | $19,205,931 |
| Participant (employee) contributions | $53,839,340 |
| Other contributions (incl. rollovers in) | $5,755,714 |
| Administrative expenses paid from the plan | $198,554 |
| Contract administrator fees | $5,700 |
| Other admin expenses | $82,000 |
| Benefits paid out | $115,275,524 |
| Net assets, start / end of year | $1.1B / $1.2B |
| Active participants, start / end of year | 4,237 / 4,547 |
| Participants with account balances | 6,254 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | KBF Cpas - Audit, LLP |
| Employer stock held by plan | $2,793,436 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $100,519 reported compensation |
| Capfinancial Partners, LLC | $82,000 reported compensation |
| KBF Cpas LLP | $17,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003132311NAL0001451697001, received 2025-10-03, EIN 95-3654013, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.