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Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/1982
  • Net Assets as of 12/31/2019 $1,311,306,122
  • Plan Number1
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants3,196
  • Retired or separated participants receiving benefits15
  • Other retired or separated participants entitled to future benefits1,198
  • Subtotal4,409
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total4,410
  • Total number of participants as of 01/01/20193,932
  • Number of participants with account balances4,295
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address1 Technology Drive
  • CityMilpitas
  • StateCA
  • Zip95035
  • Telephone(408) 875-3000
  • EIN04-2564110
  • Industry Code334410
  • Named AdministratorWilliam Skrzypek

Audit Information

  • Audit StatusAudited
  • AuditorMoss Adams LLP
  • Auditor EIN91-0189318
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2H Partial participant-directed account plan Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? Yes $140,228
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $15,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $347,112,946
Contributions $105,153,200
Cash Contributions $105,153,200
Cash from Employers $15,998,637
Cash from Participants $49,456,062
Others (including rollovers) $39,698,501
Noncash Contributions $0
Total Earnings on Investments $241,959,746
Total Interest $834,758
Interest-Bearing Cash $416,494
U.S. Government Securities $9,725
Corporate Debt Instruments $5,919
Loans (other than to participants) $0
Participant Loans $402,620
Interest from Other Investments $0
Total Dividends $55,405,025
Preferred Stock $1,893
Common Stock $371,068
Rents $0
Net gain (loss) on sale of assets $3,912,957
Aggregate Proceeds $92,575,905
Aggregate Carrying Amount $88,662,948
Total Unrealized Appreciation (depreciation) of assets $6,082,180
Real Estate $0
Other $6,082,180
Net investment gain (loss) from common/collective trusts $1,528,327
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $174,196,499
Other Income $0
Expenses $54,747,122
Total Benefit Payments $54,363,874
Directly to participants or beneficiaries, including direct rollovers $54,363,874
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $119,361
Certain deemed distributions of participant loans $51,011
Interest expense $0
Total Administrative Expenses $212,876
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $80,845
Other Administrative Fees $132,031
Net Income $292,365,824
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $1,311,306,132 $1,018,940,298 28.69%
Total noninterest-bearing cash $17,284 $1,959 782.29%
Receivables $3,185,887 $925,775 244.13%
Employer Contributions $3,185,887 $925,775 244.13%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $24,579,871 $21,123,659 16.36%
Interest-bearing cash $23,788,165 $20,243,148 17.51%
U.S. Government Securities $791,706 $880,511 -10.09%
Corporate Debt Instruments $45,115 $194,395 -76.79%
Preferred $0 $0 0.0%
All Other $45,115 $194,395 -76.79%
Corporate Stocks $35,885,788 $23,795,419 50.81%
Preferred $0 $63,677 -100.00%
Common $35,885,788 $23,731,742 51.21%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $7,232,974 $7,181,128 0.72%
Value of interest in common/collective trusts $80,348,328 $78,586,992 2.24%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $1,160,009,884 $887,127,871 30.76%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $1,001 $3,100 -67.71%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $10 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $10 $0 0.0%
Net Assets $1,311,306,122 $1,018,940,298 28.69%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Strategic Advisors, Inc. Investment advisory (plan) Advisor $80,845 $0 $80,845
Fidelity Investments Institutional Sub-transfer agency fees, Recordkeeping fees, Account maintenance fees, Securities brokerage commissions and fees Recordkeeper $80,503 $0 $80,503
Arnerich Massena Consulting (general), Other fees Consultant $56,250 $0 $56,250
Mossadams Consulting (general) Consultant $37,535 $0 $37,535
Total $255,133 $0 $255,133

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Investments Institutional Dodge & Cox Intl Stk - Dst Asset M Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Gs Sm Cap Value Inst - Goldman Sac Sub-transfer agency fees 0.12% $0
Fidelity Investments Institutional Trp New Horizons - T. Rowe Price S Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Amg Yacktman Focused I Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Amg Yacktman Focused N Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Amg Yacktman Fund I Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Amg Managers Lmcg Smcap Growth Cla Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Aqr Long Short Equity Fund Cl I Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Champlain Mid Cap Advisor Share Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Invesco Oppenheimer Global Opport Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Ab High Income Advisor Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Iman Fund Retail Shares Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Amana Mutual Fund Trust Income Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Amana Mutual Fund Trust Growth Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Amana Developing World Fund Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Amana Participation Fd Investor Cl Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Amer Century Zero Coupon 2025 Invt Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional American Century Equity Income Inv Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Artisan Internatl Investor Class Sub-transfer agency fees 0.39% $0
Fidelity Investments Institutional Artisan Developing World Fd Invest Sub-transfer agency fees 0.39% $0
Fidelity Investments Institutional Artisan Global Value Fd Invt Share Sub-transfer agency fees 0.39% $0
Fidelity Investments Institutional Azzad Ethichal Mid Cap Fund Cl A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Wise Capital Fund Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Baron Real Estate Fund Retail Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Berkshire Focus Fund Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Bny Mellon Smallcap Stock Index In Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Brown Capital Mgt Small Company In Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Buffalo Discovery Fund Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Carillon Scout Mid Cap Fund Cl I Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Cohen & Steers Realty Shares Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Columbia Global Tech Growth Adv Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Community Reinvstmntact Qual Invmt Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Dfa International Core Equity Sub-transfer agency fees 0.02% $0
Fidelity Investments Institutional Dfa Us Core Equity I Sub-transfer agency fees 0.02% $0
Fidelity Investments Institutional Dws Enhanced Commodity Strat Fd S Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Dws Enhanced Commodity Strategy A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Doubleline Total Return Bond Fd Cl Sub-transfer agency fees 0.06% $0
Fidelity Investments Institutional Doubleline Low Duration Cl N Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Fmi International Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Fmi International Fund Institution Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Emerald Banking and Finance Fd Inv Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Emerald Growth Investor Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional First Eagle Overseas Class I Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional First Eagle Global Class I Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Glenmede Large Cap Growth Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Oakmark Equity & Income Investor C Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Hartford Intl Value Fd Class I Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Hartford Schroders Tax Aware Bond Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Iva Worldwide Fund Cl A Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Iva Worldwide Fund Cl I Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Iva International Fund Cl I Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Iva Worldwide Fund Cl C Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Bernzott Us Small Cap Value Fund Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Janus Henderson Triton T Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Janus Henderson Balanced T Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Janus Henderson Short Term Bond T Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Janus Henderson Forty T Sub-transfer agency fees 0.35% $0
Fidelity Investments Institutional Janus Henderson Flexible Bond I Sub-transfer agency fees $14.00 $0
Fidelity Investments Institutional Lazard Global Listedinfrastructure Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Lazard Global Listedinfrastructe I Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Loomis Sayles Bond Instl Sub-transfer agency fees 0.20% $0
Fidelity Investments Institutional Mainstay Mackay Highyield Corp Bd Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Manning & Napier Rainier Intl Disc Sub-transfer agency fees 0.08% $0
Fidelity Investments Institutional Matthews Asia Dividend Fund Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Matthews Asian Growth & Income Fun Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Matthews Asia Dividend Inst'L Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Morgan Stanley Glbl Franchise Clas Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Morgan Stanley Insight A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Msif International Opportunities C Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Eventide Gilead Fund Class N Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Neuberger Berman Genesis Trust Cla Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Neuberger Berman Real Estate Trust Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Neuberger Berman Strategic Inc Tru Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Riskpro Pfg Aggressive 30 Fd R Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Riskpro Pfg 30 Fund Cl R Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Riskpro Aggressive 30 Fund Cl R Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Riskpro Pfg Equity 30 Fund Cl R Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Riskpro Alternative 0 15 Fund Cl R Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Riskpro Pfg 0 15 Fd Class R Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Riskpro Tactical 0 30 Fd Cl R Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Riskpro Pfg Balanced 20 30 Cl R Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Riskpro Dynamic 20 30 Fund Cl R Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Riskpro Dynamic 15 25 Fund Cl R Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Riskpro Pfg Global 30 Fd Cl R Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Oberweis Intl Opportunities Fund Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Pimco Intl Bd Fd (U.S. Dollar Hedg Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Parnassus Core Equity Investor Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Pear Tree Polaris Frgn Val Sm Cap Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Permanent Portfolio Sub-transfer agency fees 0.38% $0
Fidelity Investments Institutional Pimco Income Fund Cl A Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Pimco Rae Fundamntaladvtg Plus Fun Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional T Rowe Price Health Sciences Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Principal Real Estate Sec Instl Cl Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Akre Focus Fund Retail Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Akre Focus Fund Instl Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional The Osterweis Strategic Income Fd Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Boston Partners Long Short Eq Inst Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Boston Partners Globl Long Shrt In Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Boston Partners Longshort Research Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Rivernorth/Double Line Strategic I Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional T Rowe Price Dividend Growth Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional T Rowe Price Global Gr Stock Inves Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional T Rowe Price Qm Us Sml Cap Grwth E Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Sterling Capital Equity Income Cl Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Tcw Total Return Bond Class N Sub-transfer agency fees 0.38% $0
Fidelity Investments Institutional T Rowe Price Glbl Allocation Inves Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Templeton Global Bond Advisor Clas Sub-transfer agency fees $16.00 $0
Fidelity Investments Institutional Teton Westwood Mighty Mites Fd Cl Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Third Avenue Small Cap Value Inves Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Thompson Bond Fund Sub-transfer agency fees 0.25% $0
Fidelity Investments Institutional Tocqueville Gold Fund Sub-transfer agency fees $16.00 $0
Fidelity Investments Institutional Infinity Q Divrs Alpha Instl Sub-transfer agency fees 0.10% $0
Fidelity Investments Institutional Value Line Mid Cap Focused Investo Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Virtus Vontobel Emerg Mkts Opps I Sub-transfer agency fees 0.15% $0
Fidelity Investments Institutional Walthausen Select Value Instl Cl Sub-transfer agency fees 0.12% $0
Fidelity Investments Institutional Wasatch Small Cap Value Sub-transfer agency fees 0.40% $0
Fidelity Investments Institutional Wasatch Small Cap Value Institutio Sub-transfer agency fees 0.10% $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Mip II Cl 1 Fidelity Management Trust Company DFE: Common/Collective Trust $80,348,328
Total $80,348,328

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.