Psemi Corporation 401(k) Review & Grade
Psemi Corporation 401(k) Plan
San Diego, CAManufacturing557 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,766Employer $ per active participant
$16,006Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$121.1MNet plan assets, end of year
$154,693Average balance per account
Score breakdown
- Employer generosity43.5 / 5087th percentile for employer $ per participant
- Low cost21.4 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving14.7 / 1598th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score87 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 86th |
| Employee saving | 98th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,992 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Psemi put in about $5,766 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 | $3,211,489 |
| Participant (employee) contributions | $8,915,392 |
| Other contributions (incl. rollovers in) | $529,878 |
| Administrative expenses paid from the plan | $60,540 |
| Contract administrator fees | $300 |
| Other admin expenses | $5,079 |
| Benefits paid out | $6,243,915 |
| Net assets, start / end of year | $99.4M / $121.1M |
| Active participants, start / end of year | 575 / 539 |
| Participants with account balances | 783 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Warren Averett LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $55,461 reported compensation |
| Warren Averett LLC | $5,079 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250530083634NAL0005129059001, received 2025-05-30, EIN 86-0652659, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.