Plan Snapshot
- Plan Sponsor: Globalfoundries U.S. INC.
- Sponsor EIN: 263122131
- Sponsor Address: 2600 GREAT AMERICA WAY, SANTA CLARA, CA, 95054
- Plan Type: 401(k)
- Total Participants: 4,786
- Total Assets: $1.2B
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 4,786 | $1.2B | $22.8M | $49.0M |
| 2023 | 4,857 | $1.1B | $26.2M | $54.0M |
| 2022 | 6,470 | $1.1B | $31.2M | $69.0M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY | RECORDKEEPER | $331,389 | — | $331,389 |
| MMA SECURITIES LLC | INVESTMENT ADVISOR | $109,750 | — | $109,750 |
| MOSS ADAMS LLP | AUDITOR | $64,710 | — | $64,710 |
| BAKER TILLY US, LLP | Auditor | $64,710 | — | $64,710 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BAKER TILLY US, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $570,559
- Estimated Expense Ratio: 0.046% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $532,359 | $109,750 | — | $64,710 | — |
| 2023 | $497,604 | $106,000 | $383,059 | — | — |
| 2022 | $476,245 | $95,833 | $369,612 | — | — |