Science Applications International Retirement Plan

Science Applications International Retirement Plan

The plan was created in 2013 when SAIC split into two companies — the current SAIC and Leidos Holdings. The original retirement plan stayed with Leidos, so SAIC launched this 401(k) from scratch. It now covers employees across SAIC's defense, intelligence, and civilian-agency contracts, making participant demographics heavily weighted toward cleared engineers and program managers, many concentrated in Northern Virginia. Koverse, a data-management subsidiary SAIC acquired in 2021, merged its separate 401(k) into this plan in March 2024. Investment architecture runs entirely through Vanguard's recordkeeping platform. The core menu is built from Vanguard Common Collective Trust Funds — institutional share classes of Vanguard index and active strategies — supplemented by a curated lineup of external mutual funds. A self-directed brokerage option, also through Vanguard, lets participants buy individual stocks, ETFs, and non-menu mutual funds. The plan does not invest in private equity, venture capital, or hedge funds; it is a plain-vanilla 401(k) designed to comply with ERISA section 404(c) safe harbor. Participant concentrations are typical for a large-cap government contractor workforce — heavily indexed in US large-cap blend, with smaller allocations to international equity, bond funds, and stable value. The Benefit Plans Committee serves as named fiduciary, overseeing investment selection, fee benchmarking, and plan compliance. SAIC's treasury or human-resources function likely administers day-to-day operations, though individual members of the committee are not publicly named. The plan does not publish a standalone annual report; details surface through required Form 5500 filings with the Department of Labor. In March 2024, the Koverse 401(k) was merged in, a routine consolidation following the acquisition's integration cycle. Structural differentiator is negative space — the plan is notable for what it does not do. Unlike many corporate DC plans that layer target-date funds as a default and call it a day, SAIC's plan includes a self-directed brokerage window, implying a workforce comfortable making active allocation calls. The post-2013 launch means this plan has no legacy defined-benefit liabilities, no frozen pension tranches, and no insurance-company annuity backstops — a clean-sheet 401(k) architecture that is less common among Defense Industrial Base employers than commercial-sector peers.