Retirement plan

LEARJET INC. TAX-DEFERRED SAVINGS PLAN FOR REPRESENTED EMPLOYEES

Name: LEARJET INC. - LEARJET INC. TAX-DEFERRED SAVINGS PLAN FOR REPRESENTED EMPLOYEES (2023) Form 5500
Creator: LEARJET INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LEARJET INC. TAX-DEFERRED SAVINGS PLAN FOR REPRESENTED EMPLOYEES, LEARJET INC.

LEARJET INC.EIN 13-3567473Plan #008PY 2023

ONE LEARJET WAY - WICHITA, KS 67209316-946-2000LinkedIn201-500 employeesaviation & aerospace

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$52.7M

+9.6% from 2022

Total participants

564

+6.0% from 2022

Average account balance

$123,394

+7.3% from 2022

Annual return

15.64%

+31.90 pp from 2022

Benchmarks

See 2,423 peers

Peer group

Industry33 - Manufacturing

Plan typeDefined contribution

Participants250-999

Cohort2,423 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$57.09M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$128K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

446

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

66.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.63M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+12.31%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$87

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 2 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.4 years Filed as: SCHWAB RETIREMENT PLAN SERVCES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$29,457
ERNST & YOUNG LLP1 year Service code 10 · EIN 34-6565596	Accounting	$14,050

Plan features & details

Pension benefit codes2E2F2G2J2K2T3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants 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.
2J
Code section 401(k) feature
Cash 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.
2K
Code section 401(m) arrangement
Employee 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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$44K

$99 / participant

Recordkeeping$9K19.7%
Investment mgmt$21K48.3%
Contract admin$14K32.0%

% of EOY assets

0.083%

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: ERNST & YOUNG, LLP
Auditor EIN: 346565696
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$123,394

$99,168+24.4%

$96,534+27.8%

$74,460+65.7%

Participation rate

69.1%

80.7%-11.6pp

76.0%-6.9pp

70.7%-1.7pp

Annual return

15.64%

22.40%-6.8pp

25.88%-10.2pp

34.38%-18.7pp

Employer contribution / active EE

$1,544

$2,570-39.9%

$2,965-47.9%

$2,638-41.5%

Participant deferral / active EE

$5,485

$4,936+11.1%

$4,851+13.1%

$4,530+21.1%

Admin fee / account holder

$103

$225-54.2%

$8,253-98.8%

$348-70.4%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.4 years

Filed as: SCHWAB RETIREMENT PLAN SERVCES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$29,457

ERNST & YOUNG LLP1 year

Service code 10 · EIN 34-6565596

Accounting

$14,050

LEARJET INC. TAX-DEFERRED SAVINGS PLAN FOR REPRESENTED EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LEARJET INC. TAX-DEFERRED SAVINGS PLAN FOR REPRESENTED EMPLOYEES

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion