Retirement plan
SOUTHWEST AIRLINES CO. RETIREMENT SAVINGS PLAN
SOUTHWEST AIRLINES CO.EIN 74-1563240Plan #004PY 2024
2702 LOVE FIELD DRIVE, HDQ-6TX - DALLAS, TX 75235214-792-4000southwest.comLinkedIn10001+ employeesairlines/aviation
Other plans on this EIN
3 filingsProspect flagsCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator entity
SOUTHWEST AIRLINES CO. RETIREMENT SAVINGS PLAN COMMITTEE
EIN 751544136
PO BOX 36611 · DALLAS, TX 752351908
Summary metrics
Total assets (EOY)
$16991.7M
-11.5% from 2016
Total participants
85,685
-4.1% from 2016
Average account balance
$199,158
-7.4% from 2016
Annual return
81.84%
-8.44 pp from 2016
Benchmarks
Peer group
Industry48 - Transportation and Warehousing
Plan typeDefined contribution
Participants>=10,000
Cohort51 peers
Snapshot2024
78
Participant deferral / active EE
$6,668
median $3,803
84
Employer contribution / active EE
$6,490
median $1,389
98
Participation rate
99.5%
median 64.2%
88
Avg account balance
$199,158
median $77,360
76
Admin fee / account holder
$42
median $72
100
Annual return
81.84%
median 14.54%
Overall peer rank
87of 100
87th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$16.99B
Average account balance
Total assets / participants with a balance (line 6g)
$199K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
85,318
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
$976.65M
Contributions per participant
Average employer and participant contribution per enrolled participant
$13K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+81.84%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$42
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 6 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $3,452,920 |
CBIZ CPAS P.C.2 years Service code 10 · EIN 43-1947695 | Accounting | $67,400 |
Service code 27 1 LINCOLN STREET · BOSTON, MA 02111 | Advisory (Plan) | $31,250 |
QDRO CONSULTANTS COMPANY9 years Service code 16 3071 PEARL ROAD · MEDINA, OH 44256 | Consulting | $30,225 |
NEPC LLC10+ years Service code 27 · EIN 26-1429809 | Advisory (Plan) | $12,673 |
CHARLES SCHWAB & CO., INC.10+ years Service code 26 · EIN 94-1737782 | Advisory (Participants) | $12,428 |
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 codes2E2F2G2J2K2R2S2T3H
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.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 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
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
Expense breakdown
Schedule H Part II
Admin total
$3.6M
$48 / participant
- Recordkeeping$3M96.0%
- Investment mgmt$44K1.2%
- Other / not subdivided$100K2.8%
% of EOY assets
0.021%
all-in expense ratio
Categories reported
2 / 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
- $70,025
- Opinion code
- Unqualified