Retirement plan
ALASKA AIRLINES, INC. COPS, MRP & DISPATCH 401(K) PLAN
ALASKA AIRLINES INCEIN 92-0009235Plan #013PY 2022
P.O. BOX 68900 - SEAHB - SEATTLE, WA 981680900206-392-5000alaskaairlines.comLinkedIn51-200 employeesairlines/aviation
Prospect flagsLow returnsFailed to transmit contributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
ANDREA SCHNEIDER
Signed 10/13/2023
Plan administrator entity
ALASKA AIRLINES, INC. PENSION BENEFITS ADMINISTRATIVE COMMITTEE
EIN 920009235
Summary metrics
Total assets (EOY)
$689.2M
-10.2% from 2016
Total participants
12,029
-5.7% from 2016
Average account balance
$58,242
-4.7% from 2016
Annual return
-16.52%
-1.63 pp from 2016
Benchmarks
Peer group
Industry48 - Transportation and Warehousing
Plan typeDefined contribution
Participants5,000-9,999
Cohort45 peers
Snapshot2022
57
Participant deferral / active EE
$4,625
median $3,803
73
Employer contribution / active EE
$2,952
median $1,319
70
Participation rate
97.5%
median 85.7%
70
Avg account balance
$58,242
median $39,061
36
Admin fee / account holder
$82
median $74
18
Annual return
-16.52%
median -15.13%
Overall peer rank
54of 100
54th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$928.68M
Average account balance
Total assets / participants with a balance (line 6g)
$107K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
8,676
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
99.3%
Contributions (total)
Employer and participant dollars contributed each year
$67.11M
Contributions per participant
Average employer and participant contribution per enrolled participant
$10K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+16.14%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$71
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 2 by compensation
| Provider | Service type | Compensation |
|---|---|---|
THE VANGUARD GROUP, INC.8+ years Service code 15 · EIN 23-1945930 | Recordkeeping | $506,254 |
VANGUARD ADVISERS INC.1 year Service code 26 · EIN 23-2811930 | Advisory (Participants) | $491,273 |
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 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
2 tripped
- 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).
Expense breakdown
Schedule H Part II
Admin total
$972K
$125 / participant
- Other / not subdivided$972K100.0%
% of EOY assets
0.141%
all-in expense ratio
Categories reported
0 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- CLARK NUBER PS
- Auditor EIN
- 911194016
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified