Plan Snapshot
- Plan Sponsor: Microchip Technology Incorporated
- Sponsor EIN: 860629024
- Sponsor Address: 2355 WEST CHANDLER BOULEVARD, CHANDLER, AZ, 85224
- Plan Type: 401(k)
- Total Participants: 6,662
- Total Assets: $1.6B
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- 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 | 6,662 | $1.6B | $7.4M | $77.1M |
| 2023 | 7,051 | $1.4B | $22.2M | $81.7M |
| 2022 | 6,751 | $1.1B | $23.9M | $73.2M |
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 |
|---|---|---|---|---|
| CBIZ CPAS P.C. | Auditor | $23,320 | — | $23,320 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $23,320
- Estimated Expense Ratio: 0.001% 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 | $493,531 | $339,160 | $1,800 | $23,320 | — |
| 2023 | $647,645 | $402,646 | $3,300 | $22,260 | — |
| 2022 | $566,914 | $419,320 | — | — | — |