Plan Snapshot
- Plan Sponsor: Philips North America LLC
- Sponsor EIN: 133429115
- Sponsor Address: 222 JACOBS STREET, 3RD FLOOR, CAMBRIDGE, MA, 02141
- Plan Type: 401(k)
- Total Participants: 17,066
- Total Assets: $6.4B
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 | 17,066 | $6.4B | $152.4M | $209.9M |
| 2023 | 18,386 | $5.8B | $142.8M | $202.6M |
| 2022 | 19,120 | $5.2B | $157.2M | $216.9M |
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 INSUR CO OF AMERICA | RECORDKEEPER | $534,717 | — | $534,717 |
| CAPFINANCIAL PARTNERS LLC | INVESTMENT ADVISOR | $520,000 | — | $520,000 |
| JOHNSON O'CONNOR FERON & CARUCCI LL | ACCOUNTING | $38,925 | — | $38,925 |
| DELOITTE TAX LLP | NONE | $9,530 | — | $9,530 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,103,172
- Estimated Expense Ratio: 0.017% 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 | $352,392 | — | — | $38,925 | — |
| 2023 | $1,116,932 | $250,000 | $348,004 | $35,649 | — |
| 2022 | $874,442 | $156,746 | $47,123 | — | $39,643 |