Intel Corporation has filed its annual Form 11-K report with the United States Securities and Exchange Commission for the fiscal year ended December 31, 2023. The report includes audited financial statements for the Intel 401(k) Savings Plan, which show a net increase in assets available for benefits from $18.36 billion in 2022 to $22.18 billion in 2023. The independent audit, conducted by Crowe LLP, concluded that the financial statements present fairly the net assets and changes in net assets for the year in accordance with U.S. accounting principles. The Plan's investments showed significant appreciation, and the company continued to match employee contributions, although the match rate was reduced partway through the year. The Plan is a defined contribution plan for U.S. employees of...Show More

Intel Corporation has filed its annual Form 11-K report with the United States Securities and Exchange Commission for the fiscal year ended December 31, 2023. The report includes audited financial statements for the Intel 401(k) Savings Plan, which show a net increase in assets available for benefits from $18.36 billion in 2022 to $22.18 billion in 2023. The independent audit, conducted by Crowe LLP, concluded that the financial statements present fairly the net assets and changes in net assets for the year in accordance with U.S. accounting principles. The Plan's investments showed significant appreciation, and the company continued to match employee contributions, although the match rate was reduced partway through the year. The Plan is a defined contribution plan for U.S. employees of Intel, with various investment options including mutual funds, collective trust funds, and a self-directed brokerage account. The Plan is subject to the Employee Retirement Income Security Act of 1974 (ERISA) and aims to be in compliance with the Internal Revenue Code. The Plan's assets are diversified to minimize credit risk, and it is audited for tax compliance and operational conformity with the Code. The report also notes that subsequent to the end of the fiscal year, the Plan amended the employer match contributions percentage and appointed a new trustee for the Intel Retirement Plans Collective Investment Trust.