Globalfoundries U.S. Inc. 401(k) Review & Grade
Globalfoundries U.S. Inc. 401(k) Plan
Santa Clara, CAManufacturing4,822 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,735Employer $ per active participant
$10,171Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.2BNet plan assets, end of year
$152,950Average balance per account
Score breakdown
- Employer generosity33.6 / 5067th percentile for employer $ per participant
- Low cost20.3 / 2581th percentile for low admin cost vs. same-size plans
- Employee saving12.2 / 1581th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 67th |
| Lower admin cost | 81th |
| Employee saving | 81th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $18,670 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Globalfoundries U.S. put in about $4,735 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 | $22,828,866 |
| Participant (employee) contributions | $49,037,116 |
| Other contributions (incl. rollovers in) | $3,763,703 |
| Administrative expenses paid from the plan | $532,359 |
| Investment advisory & management fees | $109,750 |
| Other admin expenses | $26,510 |
| Benefits paid out | $122,797,137 |
| Net assets, start / end of year | $1.1B / $1.2B |
| Active participants, start / end of year | 4,857 / 4,786 |
| Participants with account balances | 8,162 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $331,389 reported compensation |
| Mma Securities LLC | $109,750 reported compensation |
| Moss Adams LLP | $64,710 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008132815NAL0005911969001, received 2025-10-08, EIN 26-3122131, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.