Retirement plan

MIDWEST ATC SERVICE 401(K) & PENSION PLAN

Name: MIDWEST AIR TRAFFIC CONTROL SERVICE, INC. - MIDWEST ATC SERVICE 401(K) & PENSION PLAN (2024) Form 5500
Creator: MIDWEST AIR TRAFFIC CONTROL SERVICE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MIDWEST ATC SERVICE 401(K) & PENSION PLAN, MIDWEST AIR TRAFFIC CONTROL SERVICE, INC.

MIDWEST AIR TRAFFIC CONTROL SERVICE, INC.EIN 48-0872931Plan #001PY 2024

7300 W. 129TH STREET - OVERLAND PARK, KS 66213913-782-7082LinkedIn501-1000 employeesairlines/aviation

Prospect flagsLow returnsCorrective distributions

How to read this page

Total assets (EOY)

$55.6M

+2.6% from 2023

Total participants

781

-28.6% from 2023

Average account balance

$73,746

+46.8% from 2023

Annual return

10.24%

-2.25 pp from 2023

Benchmarks

See 680 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants250-999

Cohort680 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$55.60M

Not enough data

1 years with asset history on file

Average account balance

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

$74K

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.

754

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.

94.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.35M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+10.24%

Not enough data

1 years with return on file

Admin fee / account holder

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

$253

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
TRANSAMERICA RETIREMENT SOLUTIONS10+ years Filed as: TRANSAMERICA LIFE INSURANCE COMPANY Service code 15 · EIN 39-0989781	Recordkeeping	$166,350
MIDWEST ATC SERVICE, INC.1 year Filed as: MIDWEST ATC SERVICE INC Service code 13 · EIN 48-0872931	Contract Administrator	$24,299

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$191K

$366 / participant

Recordkeeping$166K87.3%
Contract admin$24K12.7%

% of EOY assets

0.343%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HOOD & ASSPCOATES CPA'S
Auditor EIN: 731432162
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$73,746

$55,402+33.1%

$76,089-3.1%

$77,714-5.1%

Participation rate

94.8%

63.6%+31.2pp

69.1%+25.7pp

70.6%+24.2pp

Annual return

10.24%

17.09%-6.9pp

360.94%-350.7pp

31.26%-21.0pp

Employer contribution / active EE

$6,458

$1,789+260.9%

$2,690+140.1%

$2,727+136.8%

Participant deferral / active EE

$3,804

$3,450+10.3%

$4,259-10.7%

$4,649-18.2%

Admin fee / account holder

$253

$410-38.4%

$6,418-96.1%

$433-41.6%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS10+ years

Filed as: TRANSAMERICA LIFE INSURANCE COMPANY

Service code 15 · EIN 39-0989781

Recordkeeping

$166,350

MIDWEST ATC SERVICE, INC.1 year

Filed as: MIDWEST ATC SERVICE INC

Service code 13 · EIN 48-0872931

Contract Administrator

$24,299

MIDWEST ATC SERVICE 401(K) & PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MIDWEST ATC SERVICE 401(K) & PENSION 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