Retirement plan

SPIRIT AIRLINES, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

Name: SPIRIT AIRLINES, INC. - SPIRIT AIRLINES, INC. EMPLOYEE RETIREMENT SAVINGS PLAN (2017) Form 5500
Creator: SPIRIT AIRLINES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPIRIT AIRLINES, INC. EMPLOYEE RETIREMENT SAVINGS PLAN, SPIRIT AIRLINES, INC.

SPIRIT AIRLINES, INC.EIN 38-1747023Plan #001PY 2017

2800 EXECUTIVE WAY - MIRAMAR, FL 33025954-628-4817spirit.comLinkedIn10001+ employeesairlines/aviation

Other plans on this EIN

2 filings

#002Retirement-$271.9M assets #003Retirement-$675K assets

Prospect flagsLow participationCorrective distributions

How to read this page

Total assets (EOY)

$83.7M

-18.5% from 2016

Total participants

5,224

-15.4% from 2016

Average account balance

$28,189

+2.8% from 2016

Annual return

20.87%

-7.33 pp from 2016

Benchmarks

See 238 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants1,000-4,999

Cohort238 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$295.80M

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

5,925

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.

57.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$40.95M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+14.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$61

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 7 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.3+ years Filed as: SCHWAB RETIREMENT PLAN SERVICES INC Service code 15 · EIN 34-1479833	Recordkeeping	$110,430
LITTLER MENDELSON, P.C.1 year Filed as: LITTLER MENDELSON PC Service code 29 · EIN 94-2602731	Legal	$18,213
USI CONSULTING GROUP1 year Filed as: USI ADVISORS INC Service code 28 · EIN 06-1397347	Investment Management	$14,752
CHARLES SCHWAB & CO., INC.3+ years Filed as: CHARLES SCHWAB & CO, INC. Service code 33 · EIN 94-1737782	Float revenue; Shareholder servicing ...	$9,735
INFANTE AND COMPANY2 years Service code 10 · EIN 59-2115588	Accounting	$6,500
CHARLES SCHWAB & CO., INC.3+ years Filed as: CHARLES SCHWAB BANK Service code 25 · EIN 42-1558009	Directed Trustee	$1
CHARLES SCHWAB & CO., INC.3+ years Filed as: CHARLES SCHWAB & CO INC AND AFFILIA Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R3D

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

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

$155K

$31 / participant

Investment mgmt$15K9.5%
Other / not subdivided$140K90.5%

% of EOY assets

0.185%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: INFANTE AND COMPANY
Auditor EIN: 592115588
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$28,189

$65,292-56.8%

$71,671-60.7%

$77,958-63.8%

Participation rate

54.2%

67.4%-13.2pp

68.7%-14.5pp

71.6%-17.4pp

Annual return

20.87%

21.25%-0.4pp

20.65%+0.2pp

20.87%0pp

Employer contribution / active EE

$972

$2,085-53.4%

$2,460-60.5%

$2,310-57.9%

Participant deferral / active EE

$1,799

$3,008-40.2%

$3,438-47.7%

$3,537-49.1%

Admin fee / account holder

$52

$84-38.3%

$5,558-99.1%

$97-46.5%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.3+ years

Filed as: SCHWAB RETIREMENT PLAN SERVICES INC

Service code 15 · EIN 34-1479833

Recordkeeping

$110,430

LITTLER MENDELSON, P.C.1 year

Filed as: LITTLER MENDELSON PC

Service code 29 · EIN 94-2602731

Legal

$18,213

USI CONSULTING GROUP1 year

Filed as: USI ADVISORS INC

Service code 28 · EIN 06-1397347

Investment Management

$14,752

CHARLES SCHWAB & CO., INC.3+ years

Filed as: CHARLES SCHWAB & CO, INC.

Service code 33 · EIN 94-1737782

Float revenue; Shareholder servicing ...

$9,735

INFANTE AND COMPANY2 years

Service code 10 · EIN 59-2115588

Accounting

$6,500

CHARLES SCHWAB & CO., INC.3+ years

Filed as: CHARLES SCHWAB BANK

Service code 25 · EIN 42-1558009

Directed Trustee

CHARLES SCHWAB & CO., INC.3+ years

Filed as: CHARLES SCHWAB & CO INC AND AFFILIA

Service code 59

Shareholder Servicing

SPIRIT AIRLINES, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPIRIT AIRLINES, INC. EMPLOYEE RETIREMENT SAVINGS PLAN

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