Retirement plan
SOUTHWEST AIRLINES PILOTS RETIREMENT SAVINGS PLAN
SOUTHWEST AIRLINES COMPANYEIN 74-1563240Plan #003PY 2017
1450 EMPIRE CENTRAL DRIVE - DALLAS, TX 75247214-722-4251southwest.comLinkedIn10001+ employeesairlines/aviation
Other plans on this EIN
2 filingsProspect flagsHigh assets / participantCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
MICHAEL HAYNES
Signed 07/02/2018
Summary metrics
Total assets (EOY)
$5091.9M
-12.5% from 2016
Total participants
9,587
-4.0% from 2016
Average account balance
$532,901
-7.8% from 2016
Annual return
17.78%
+0.21 pp from 2016
Benchmarks
Peer group
Industry48 - Transportation and Warehousing
Plan typeDefined contribution
Participants5,000-9,999
Cohort38 peers
Snapshot2017
97
Participant deferral / active EE
$16,958
median $2,678
97
Employer contribution / active EE
$27,711
median $1,037
86
Participation rate
99.6%
median 86.3%
100
Avg account balance
$532,901
median $41,389
0
Admin fee / account holder
$213
median $71
62
Annual return
17.78%
median 17.59%
Overall peer rank
74of 100
74th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$11.62B
Average account balance
Total assets / participants with a balance (line 6g)
$895K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
12,980
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
99.1%
Contributions (total)
Employer and participant dollars contributed each year
$744.90M
Contributions per participant
Average employer and participant contribution per enrolled participant
$64K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+24.26%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$596
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 43 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 26 · EIN 86-0912979 | Advisory (Participants) | $442,439 |
Service code 15 · EIN 34-1479833 | Recordkeeping | $389,588 |
CHARLES SCHWAB & CO., INC.3+ years Service code 33 · EIN 94-1737782 | Securities brokerage; Direct payment ... | $253,520 |
SMITH ANGLIN FINANCIAL LLC2 years Service code 26 · EIN 26-0778361 | Advisory (Participants) | $174,574 |
Service code 26 · EIN 47-4221739 | Advisory (Participants) | $152,443 |
VERUS ADVISORY INC3+ years Service code 28 · EIN 91-1320111 | Investment Management | $126,667 |
Service code 28 · EIN 46-0619194 | Investment Management | $97,892 |
Service code 26 · EIN 31-1515316 | Advisory (Participants) | $88,889 |
CALLAN ASSOCIATES, INC1 year Service code 28 · EIN 94-2192581 | Investment Management | $60,000 |
FISHER INVESTMENTS2 years Service code 26 · EIN 20-2480800 | Advisory (Participants) | $59,304 |
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 codes2E2F2G2J2K2R3H
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.
- 2JCode section 401(k) featureCash 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.
- 2KCode section 401(m) arrangementEmployee 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.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 3HControlled group memberPlan 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
$2.0M
$227 / participant
- Investment mgmt$1M65.5%
- Other / not subdivided$702K34.5%
% of EOY assets
0.040%
all-in expense ratio
Categories reported
1 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Disclaimer opinion
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
- Auditor firm
- WHITLEY PENN LLP
- Auditor EIN
- 752393478
- Audit fees
- (not subdivided)
- Opinion code
- Disclaimer