Gilead Sciences 401(k) match, vesting and fees
What Gilead Sciences' 401(k) plan says about matching contributions
Employer match contributions – The Company may elect to make nondiscretionary matching contributions to the Plan. The Company matches 100% of each eligible participant’s contribution, not to exceed $15,000 per year.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 55 ↗ |
| Match vesting | Vesting – Participants are immediately vested in their entire account, including employer contributions. | Audit report, p. 55 ↗ |
| Automatic enrollment | The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at 4% of eligible compensation and their contributions invested in a designated fund until elected otherwise by the participant. Unless elected otherwise by the participant, deferrals are automatically increased annually by 1%, up to a maximum auto-deferral of 10%. The automatic enrollment contributions will begin as soon as administratively feasible on or after 180 days following the participant’s date of hire, but no sooner than the participant’s entry date. | Audit report, p. 55 ↗ |
| Roth contributions | Participants may also elect to make Roth contributions utilizing after-tax contributions. | Audit report, p. 55 ↗ |
| Loans | Notes receivable from participants – The Plan allows participants to borrow not less than $1,000 and up to the lesser of $50,000 or 50% of their account balance. | Audit report, p. 55 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Moss Adams LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 203 defined-contribution plans in manufacturing with 10,000 to 49,999 participants.
| Gilead Sciences: employer contribution per participant | $10,143 | |
| Peer median | $3,733 |
| Gilead Sciences: average balance | $284,329 | |
| Peer median | $157,962 |
| Gilead Sciences: admin expenses ÷ assets | <0.01% | |
| Peer median | 0.05% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $3.5B at the end of plan year 2023 to $4.3B at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 15,218 | $4.3B | $153M | $10,143 | <0.01% | Quoted in the audit report, p. 55 ↗ | Form 5500 ↗ |
| 2023 | 15,334 | $3.5B | $152M | $9,988 | <0.01% | Not published | Form 5500 ↗ |
Common questions
Does Gilead Sciences match 401(k) contributions?
The audit report attached to the Gilead Sciences 401(k) Plan's plan year 2024 Form 5500, page 55 says: “Employer match contributions – The Company may elect to make nondiscretionary matching contributions to the Plan. The Company matches 100% of each eligible participant’s contribution, not to exceed $15,000 per year.” Plan terms may have changed; check your current Summary Plan Description.
When is the Gilead Sciences 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 55 says: “Vesting – Participants are immediately vested in their entire account, including employer contributions.”
Who manages the Gilead Sciences 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Gilead Sciences, Inc..
I left Gilead Sciences. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Gilead Sciences, Inc., (650) 574-3000) or the recordkeeper, Fidelity Investments Institutional. The Gilead Sciences old 401(k) page lists the contacts from every plan filing. Find an old Gilead Sciences 401(k)
Data from the public Form 5500 annual reports Gilead Sciences filed with the U.S. Department of Labor (plan years 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Gilead Sciences. Not financial advice. Report a correction · Methodology