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Moog 401(k) retirement plan: the investment options

Does your 401(k) vote the way you would? $2.52bn of the $3.82bn in the Moog plan votes in secret. Fidelity 500 Index Fund, the most common fund in the plans we track, publishes every vote: answer 3 of its ballots, then see your result.

The question on the ballot

As filed

The Moog 401(k) holds $3.82bn. Of the $2.98bn we could identify from the plan’s own filing, 84.4% sits in funds that publish no record of how they voted your shares — collective trusts, which unlike a mutual fund file no Form N-PX and leave no public trace of a single vote.

SourceMoog’s own annual retirement-plan filing with the SEC (Form 11-K, Schedule of Assets) · open the filing

What the plan holdsVehicleVoting recordValue
Common Collective Trusts Collective trust or separate account NONE $865m
Shares of Registered Investment Companies Registered fund PUBLISHED $466m
Moog Inc.listed as “Class B Common Stock” Employer stock Voted by the plan trustee $370m
Employer Securities Employer stock Voted by the plan trustee $370m
BlackRock Lifepath Index Retirement Fund Olisted as “Target Date Fund” Collective trust or separate account NONE $194m
Vanguard Institutional Index Instl Pllisted as “Mutual Fund” Collective trust or separate account NONE $157m
BlackRock Lifepath Index 2030 Fund Olisted as “Target Date Fund” Collective trust or separate account NONE $133m
BlackRock Lifepath Index 2035 Fund Olisted as “Target Date Fund” Collective trust or separate account NONE $126m
Pooled Separate Accounts Collective trust or separate account NONE $120m
BlackRock Lifepath Index 2040 Fund Olisted as “Target Date Fund” Collective trust or separate account NONE $102m
BlackRock Lifepath Index 2045 Fund Olisted as “Target Date Fund” Collective trust or separate account NONE $99m
Large Cap Growth JPMorgan Investment Management Fundlisted as “Pooled Separate Account” Collective trust or separate account NONE $95m

The 12 largest holdings in the plan. “Vehicle” is the description the filing itself gives each investment.

Why there is nothing to show

A mutual fund has to file Form N-PX every year listing every vote it cast on your behalf. A collective investment trust does not. It is a bank-run vehicle sold only inside retirement plans, it is cheaper, and it is now where most 401(k) default money sits — including most target-date funds, which is where savers who never chose anything are put.

So the shares bought with Moog employees’ retirement savings are voted every proxy season — on executive pay, on board seats, on climate and workforce proposals — and there is no public document anywhere recording how. This is not an oversight by Moog; it is what the disclosure rules currently require, which is to say: nothing.

What you can do

Check whether your plan offers any registered fund as an alternative — those publish their records, and you can read them here. If it does not, the menu itself is the thing that has to change, and that is a decision made by the plan’s fiduciary committee, not by you alone.

See how funds that do publish voted →

CoverageWe classified 97.9% of this plan’s assets from the filing. The figure above is the share of the money we could classify; anything we could not identify is excluded from it rather than assumed either way.

Other employer plans

The largest employer plans on the site, and a few more. Each page shows what the plan’s funds did with the shares its savers paid for.

Microsoft 401(k)$64.92bn in the planBank of America 401(k)248,103 savers · $62.90bnJPMorgan Chase 401(k)297,359 savers · $52.91bnGoogle 401(k)154,637 savers · $48.74bnWells Fargo 401(k)$43.80bn in the planAmazon 401(k)943,213 savers · $34.59bnInternational Business Machines 401(k)$28.25bn in the planIntel 401(k)$26.91bn in the planAmerican Air Liquide 401(k)20,446 savers · $2.21bnLiveramp 401(k)3,506 savers · $558mAmerican Sugar Salary 401(k)1,582 savers · $213mUsa Waste and Recycling 401(k)1,010 savers · $61mTCS 401(k)34,300 savers · $2.36bnVisteon 401(k)1,799 savers · $591m