Retirement plan
VIRGIN AMERICA 401(K) PLAN
ALASKA AIRLINES, INC.EIN 92-0009235Plan #001PY 2018
PO BOX 68900 - SEATTLE, WA 98188650-762-7153alaskaairlines.comLinkedIn51-200 employeesairlines/aviation
Prospect flagsLow returnsLow participationFailed to transmit contributionsCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
JOSH MADSEN
Signed 10/15/2019
Summary metrics
Total assets (EOY)
$10.1M
+2240.0% from 2018
Total participants
1,535
+147.2% from 2018
Average account balance
$43,225
+44.3% from 2018
Annual return
-100.74%
+122.99 pp from 2018
Benchmarks
Peer group
Industry48 - Transportation and Warehousing
Plan typeDefined contribution
Participants1,000-4,999
Cohort241 peers
Snapshot2018
43
Participant deferral / active EE
$2,155
median $2,345
90
Employer contribution / active EE
$6,699
median $891
3
Participation rate
12.2%
median 78.7%
60
Avg account balance
$43,225
median $34,654
54
Admin fee / account holder
$59
median $65
0
Annual return
-100.74%
median -4.48%
Overall peer rank
42of 100
42nd percentileavg across 6 metrics
Analytics
2017 - 2019
Total assets (EOY)
Plan-year ending balance
$0
Average account balance
Total assets / participants with a balance (line 6g)
$43K
Not enough data
2 years with per-participant data
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
233
Not enough data
2 years with headcount on file
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
12.2%
Not enough data
2 years with eligibility data
Contributions (total)
Employer and participant dollars contributed each year
$2.93M
Contributions per participant
Average employer and participant contribution per enrolled participant
$9K
Not enough data
2 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-121.45%
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
Not enough data
2 years with F_SCH_H allocation on file
Service providers
Top 1 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | -$2,012 |
Top hat statement on fileNQDC
Filed January 17, 2023 (most recent of 5 filings on file)
Plan administrator
Plans declared (6)
- FIP Equalization Agreement1 emp
- FIP Equalization Agreement1 emp
- FIP Equalization Agreement1 emp
- FIP Equalization Agreement1 emp
- FIP Equalization Agreement1 emp
- +1 more
Total covered: 6 employees
Plan features & details
Pension benefit codes2F2G2J2K2S2T3D3H2E
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.
- 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.
- 3DPre-approved pension planA master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
4 tripped
- OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
- OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
- ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
Expense breakdown
Schedule H Part II
Admin total
$14K
$9 / participant
- Other / not subdivided$14K100.0%
% of EOY assets
0.136%
all-in expense ratio
Categories reported
0 / 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
- CLARK NUBER P.S
- Auditor EIN
- 911194016
- Audit fees
- (not subdivided)
- Opinion code
- Disclaimer