Retirement plan
SOUTHWEST AIRLINES CO. PROFITSHARING PLAN
SOUTHWEST AIRLINES CO.EIN 74-1563240Plan #001PY 2023
2702 LOVE FIELD DRIVE, HDQ-6TX - DALLAS, TX 75235214-792-4000southwest.comLinkedIn10001+ employeesairlines/aviation
Other plans on this EIN
2 filingsProspect flagsLow returns
Filing contacts
From the Form 5500, federal recordPlan administrator entity
SOUTHWEST AIRLINES CO. PS 401(K)COMMITTEE
EIN 751544136
P.O. BOX 36611 · DALLAS, TX 752351908
Summary metrics
Total assets (EOY)
$5821.8M
-10.8% from 2016
Total participants
87,191
-4.8% from 2016
Average account balance
$84,173
-8.8% from 2016
Annual return
15.05%
-8.37 pp from 2016
Benchmarks
Peer group
Industry48 - Transportation and Warehousing
Plan typeDefined contribution
Participants>=10,000
Cohort52 peers
Snapshot2023
0
Participant deferral / active EE
$0
median $3,505
39
Employer contribution / active EE
$1,056
median $1,273
57
Participation rate
77.4%
median 65.8%
59
Avg account balance
$84,173
median $67,068
92
Admin fee / account holder
$19
median $61
16
Annual return
15.05%
median 18.28%
Overall peer rank
53of 100
53rd percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$0
Average account balance
Total assets / participants with a balance (line 6g)
$84K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
69,165
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
77.4%
Contributions (total)
Employer and participant dollars contributed each year
$84.29M
Contributions per participant
Average employer and participant contribution per enrolled participant
$1K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-96.55%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 7 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $1,110,786 |
STATE STREET GLOBAL ADVISORS5 years Service code 27 1 LINCOLN ST · BOSTON, MA 02111 | Advisory (Plan) | $93,750 |
NEPC, LLC9+ years Service code 27 · EIN 26-1429809 | Advisory (Plan) | $33,750 |
CBIZ CPAS P.C.1 year Service code 10 · EIN 43-1947695 | Accounting | $27,300 |
Service code 16 3071 PERAL RD · MEDINA, OH 44256 | Consulting | $19,650 |
CHARLES SCHWAB & CO., INC.8 years Service code 33 · EIN 94-1737782 | Securities brokerage | $7,237 |
Service code 10 · EIN 20-1876798 | Accounting | $5,485 |
Top hat statement on fileNQDC
Filed January 13, 2015 (most recent of 3 filings on file)
Plan administrator
Plan administrator name— Sign in and upgrade to view
11500 Outlook Street
Overland Park State: KS Zip Code: 66211
Plans declared (1)
- Southwest Airlines Co. Deferred Compensation Plan for Senior Leadership and Non-Employee Members.. .7 emp
Plan features & details
Pension benefit codes2E2F2G2R2T3H
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants 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.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
1 tripped
- OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
Expense breakdown
Schedule H Part II
Admin total
$1.3M
$16 / participant
- Recordkeeping$1M86.4%
- Investment mgmt$101K7.8%
- Contract admin$34K2.6%
- Other / not subdivided$41K3.2%
% of EOY assets
0.022%
all-in expense ratio
Categories reported
3 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- CBIZ CPAS P.C.
- Auditor EIN
- 431947695
- Audit fees
- $27,300
- Opinion code
- Unqualified