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Retirement plan

NETJETS AVIATION, INC. 401(K) RETIREMENT PLAN

NETJETS AVIATION, INC.EIN 31-0682096Plan #001PY 2021
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4111 BRIDGEWAY AVENUE - COLUMBUS, OH 43219614-239-5508
Prospect flagsHigh assets / participantCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
KIMBERLY HAHN
Signed 10/14/2022
(614) 239-5508
Plan administrator signer
KATIE GAUSEPOHL
Signed 10/14/2022
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Summary metrics

Total assets (EOY)
$2055.3M
-9.7% from 2016
Total participants
3,085
+3.6% from 2016
Average account balance
$671,458
-12.0% from 2016
Annual return
14.46%
-8.95 pp from 2016

Benchmarks

See 238 peers
Peer group
Industry48 - Transportation and Warehousing
Plan typeDefined contribution
Participants1,000-4,999
Cohort238 peers
Snapshot2021
Participant deferral / active EE
$20,705
median $3,022
Employer contribution / active EE
$23,227
median $1,118
Participation rate
99.1%
median 86.2%
Avg account balance
$671,458
median $45,576
Admin fee / account holder
$267
median $92
Annual return
14.46%
median 14.97%
Overall peer rank
71st percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$2.46B
Average account balance
Total assets / participants with a balance (line 6g)
$546K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
4,511
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
99.5%
Contributions (total)
Employer and participant dollars contributed each year
$176.32M
Contributions per participant
Average employer and participant contribution per enrolled participant
$44K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+16.95%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$339
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 10 of 25 by compensation
ProviderService typeCompensation
SCHWAB RETIREMENT PLAN SERVICES,INC3 years
Service code 15 · EIN 34-1479833
Recordkeeping
$202,597
INDEPENDENT ADVISOR ALLIANCE L3 years
Service code 26 · EIN 46-3825461
Advisory (Participants)
$120,145
MORNINGSTAR INC1 year
Service code 28 · EIN 36-3297908
Investment Management
$113,962
FISHER INVESTMENTS4 years
Service code 26 · EIN 20-2480800
Advisory (Participants)
$91,746
NFP RETIREMENT INC3 years
Service code 28 · EIN 33-0905143
Investment Management
$47,493
CERITY PARTNERS LLC4 years
Service code 26 · EIN 27-1180831
Advisory (Participants)
$22,998
LEE JOHNSON CAPITAL MANAGEMENT4 years
Service code 26 · EIN 26-2503106
Advisory (Participants)
$21,358
CHARLES SCHWAB & CO., INC.7+ years
Service code 33 · EIN 94-1737782
Other investment fees and expenses; S...
$18,911
FINANCIAL ENGINES ADVISORS LLC6 years
Service code 26 · EIN 94-3250032
Advisory (Participants)
$18,809
STRATOS WEALTH PARTNERS LTD1 year
Service code 26 · EIN 27-5273468
Advisory (Participants)
$16,321

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H
Plan features
  • 2E
    Profit-sharing
    Profit-sharing plan.
  • 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 (shifting investment responsibility to participants).
  • 2G
    Total participant-directed account plan
    Participants have the opportunity to direct the investment of all 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
    Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect 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 to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
  • 2S
    Automatic enrollment
    Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
  • 3D
    Pre-approved pension plan
    A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped
  • ComplianceCorrective distributions

    Plan reported corrective distributions (failed ADP/ACP testing).

  • InformationalHigh assets / participant

    Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II
Admin total
$818K
$294 / participant
  • Investment mgmt$593K72.6%
  • Other / not subdivided$225K27.4%
% of EOY assets
0.040%
all-in expense ratio
Categories reported
1 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
GBQ PARTNERS, LLC
Auditor EIN
202122306
Audit fees
(not subdivided)
Opinion code
Unqualified