Retirement plan

SPIRIT AIRLINES, INC. PILOTS' RETIREMENT SAVINGS PLAN

Name: SPIRIT AIRLINES, INC. - SPIRIT AIRLINES, INC. PILOTS' RETIREMENT SAVINGS PLAN (2021) Form 5500
Creator: SPIRIT AIRLINES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPIRIT AIRLINES, INC. PILOTS' RETIREMENT SAVINGS PLAN, SPIRIT AIRLINES, INC.

SPIRIT AIRLINES, INC.EIN 38-1747023Plan #002PY 2021

2800 EXECUTIVE WAY - MIRAMAR, FL 33025954-447-8074spirit.comLinkedIn10001+ employeesairlines/aviation

Other plans on this EIN

2 filings

#001Retirement-$198.8M assets #003Retirement-$2.1M assets

Prospect flagsHigh assets / participantFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$754.5M

-18.1% from 2016

Total participants

2,864

-14.5% from 2016

Average account balance

$266,709

-6.0% from 2016

Annual return

17.07%

-9.01 pp from 2016

Benchmarks

See 238 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants1,000-4,999

Cohort238 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.18B

Not enough data

1 years with asset history on file

Average account balance

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

$337K

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.

3,511

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.

99.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$155.64M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$49K

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

+12.87%

Not enough data

1 years with return on file

Admin fee / account holder

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

$130

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 8 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.7+ years Filed as: SCHWAB RETIREMENT PLAN SERVICES INC Service code 15 · EIN 34-1479833	Recordkeeping	$66,527
CHARLES SCHWAB & CO., INC.7+ years Service code 33 · EIN 94-1737782	Shareholder servicing fees; Direct pa...	$18,934
ALLWORTH FINANCIAL1 year Filed as: ALLWORTH FINANCIAL, L.P. Service code 26 · EIN 68-0372662	Advisory (Participants)	$10,036
FISHER INVESTMENTS3 years Service code 26 · EIN 20-2480800	Advisory (Participants)	$9,809
BONFIRE FINANCIAL LLC1 year Service code 26 · EIN 82-1069567	Advisory (Participants)	$7,852
CREATIVE PLANNING LLC1 year Service code 26 · EIN 43-1270780	Advisory (Participants)	$6,058
BRINKER CAPITAL1 year Filed as: BRINKER CAPITAL INVESTMENTS LL Service code 26 · EIN 32-0070947	Advisory (Participants)	$5,739
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB & CO. INC. AND AFFIL Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3D

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.
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.
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

3 tripped

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).
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$145K

$52 / participant

Investment mgmt$78K54.0%
Other / not subdivided$67K46.0%

% of EOY assets

0.019%

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: MAYER HOFFMAN MCCANN,PC
Auditor EIN: 431947695
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$266,709

$78,339+240.5%

$85,708+211.2%

$93,010+186.8%

Participation rate

98.7%

72.5%+26.2pp

69.9%+28.9pp

73.9%+24.8pp

Annual return

17.07%

21.17%-4.1pp

21.49%-4.4pp

158.70%-141.6pp

Employer contribution / active EE

$22,413

$2,560+775.5%

$2,618+756.1%

$2,705+728.5%

Participant deferral / active EE

$11,934

$3,882+207.5%

$3,922+204.3%

$4,561+161.7%

Admin fee / account holder

$51

$104-50.8%

$6,876-99.3%

$152-66.3%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.7+ years

Filed as: SCHWAB RETIREMENT PLAN SERVICES INC

Service code 15 · EIN 34-1479833

Recordkeeping

$66,527

CHARLES SCHWAB & CO., INC.7+ years

Service code 33 · EIN 94-1737782

Shareholder servicing fees; Direct pa...

$18,934

ALLWORTH FINANCIAL1 year

Filed as: ALLWORTH FINANCIAL, L.P.

Service code 26 · EIN 68-0372662

Advisory (Participants)

$10,036

FISHER INVESTMENTS3 years

Service code 26 · EIN 20-2480800

Advisory (Participants)

$9,809

BONFIRE FINANCIAL LLC1 year

Service code 26 · EIN 82-1069567

Advisory (Participants)

$7,852

CREATIVE PLANNING LLC1 year

Service code 26 · EIN 43-1270780

Advisory (Participants)

$6,058

BRINKER CAPITAL1 year

Filed as: BRINKER CAPITAL INVESTMENTS LL

Service code 26 · EIN 32-0070947

Advisory (Participants)

$5,739

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB & CO. INC. AND AFFIL

Service code 59

Shareholder Servicing

SPIRIT AIRLINES, INC. PILOTS' RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPIRIT AIRLINES, INC. PILOTS' 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