Skyworks Solutions, Inc. 401(k) Review & Grade
Skyworks Solutions Savings and Retirement 401(k) Plan
Woburn, MAManufacturing2,376 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,942Employer $ per active participant
$14,719Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$852.5MNet plan assets, end of year
$234,262Average balance per account
Score breakdown
- Employer generosity43.9 / 5088th percentile for employer $ per participant
- Low cost22.1 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1597th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score78 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 89th |
| Employee saving | 97th |
| Peers that auto-enroll | 59% |
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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 $4,540 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Skyworks Solutions put in about $5,942 per active participant, more than the typical peer ($2,320). 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 | $14,121,875 |
| Participant (employee) contributions | $34,980,870 |
| Other contributions (incl. rollovers in) | $6,242,024 |
| Administrative expenses paid from the plan | $375,388 |
| Investment advisory & management fees | $164,794 |
| Other admin expenses | $47,568 |
| Benefits paid out | $70,652,274 |
| Net assets, start / end of year | $773.9M / $852.5M |
| Active participants, start / end of year | 2,273 / 2,480 |
| Participants with account balances | 3,639 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Miller Kaplan Arase LLP |
| Employer stock held by plan | $86,721,502 |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $164,794 reported compensation |
| Fidelity Investments Institutional | $164,461 reported compensation |
| Fiducient Advisors LLC | $47,568 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250912130637NAL0000786515001, received 2025-09-12, EIN 04-2302115, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.