Retirement plan

NETJETS INC. 401(K) PLAN

Name: NETJETS INC. - NETJETS INC. 401(K) PLAN (2022) Form 5500
Creator: NETJETS INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NETJETS INC. 401(K) PLAN, NETJETS INC.

NETJETS INC.EIN 51-0383060Plan #001PY 2022

4111 BRIDGEWAY AVENUE - COLUMBUS, OH 43219614-239-5508netjets.comLinkedIn5001-10000 employeesairlines/aviation

Prospect flagsLow returnsCorrective distributions

Top hat statement on fileNQDC

Filed September 10, 2010

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$557.7M

-9.0% from 2016

Total participants

3,455

-12.6% from 2016

Average account balance

$166,385

+0.2% from 2016

Annual return

-18.15%

-5.96 pp from 2016

Benchmarks

See 254 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants1,000-4,999

Cohort254 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$835.57M

Not enough data

1 years with asset history on file

Average account balance

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

$204K

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.

4,102

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.

97.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$73.23M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

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

+18.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$96

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

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Service providers

Top 10 of 13 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.8+ years Filed as: SCHWAB RETIREMENT PLAN SERVICES INC Service code 15 · EIN 34-1479833	Recordkeeping	$163,637
MORNINGSTAR2 years Filed as: MORNINGSTAR INC Service code 28 · EIN 36-3297908	Investment Management	$34,939
WITHUMSMITH+BROWN, PC8+ years Filed as: FROST BROWN TODD LLC Service code 29 · EIN 61-0722001	Legal	$24,715
LCG ASSOCIATES, INC.1 year Filed as: LCG ASSOCIATES INC Service code 28 · EIN 75-1680350	Investment Management	$21,697
GBQ PARTNERS8+ years Filed as: GBQ PARTNERS LLC Service code 10 · EIN 20-2122306	Accounting	$11,500
WHITAKER MYERS WEALTH MANAGERS, LTD2 years Filed as: WHITAKER-MYERS WEALTH MANAGERS Service code 26 · EIN 46-5068404	Advisory (Participants)	$10,032
ABOUND WEALTH MANAGEMENT LLC6 years Service code 26 · EIN 81-4120898	Advisory (Participants)	$9,737
BUCKINGHAM STRATEGIC PARTNERS3 years Service code 26 · EIN 20-8307105	Advisory (Participants)	$8,004
HAMILTON CAPITAL LLC2 years Service code 26 · EIN 83-3000171	Advisory (Participants)	$7,053
FISHER INVESTMENTS2 years Service code 26 · EIN 20-2480800	Advisory (Participants)	$5,721

Plan features & details

Pension benefit codes2F2G2J2K2R2S2T3D3H

Plan features

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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 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

$322K

$124 / participant

Investment mgmt$122K37.9%
Other / not subdivided$200K62.1%

% of EOY assets

0.058%

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: GBQ PARTNERS, LLC
Auditor EIN: 202122306
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$166,385

$63,321+162.8%

$68,815+141.8%

$77,906+113.6%

Participation rate

96.0%

71.1%+24.9pp

69.0%+27.0pp

73.7%+22.3pp

Annual return

-18.15%

-6.50%-11.7pp

-6.37%-11.8pp

12.16%-30.3pp

Employer contribution / active EE

$7,370

$2,794+163.8%

$2,656+177.4%

$2,846+158.9%

Participant deferral / active EE

$13,803

$4,029+242.5%

$3,943+250.1%

$4,805+187.2%

Admin fee / account holder

$96

$104-7.9%

$4,936-98.1%

$133-27.6%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.8+ years

Filed as: SCHWAB RETIREMENT PLAN SERVICES INC

Service code 15 · EIN 34-1479833

Recordkeeping

$163,637

MORNINGSTAR2 years

Filed as: MORNINGSTAR INC

Service code 28 · EIN 36-3297908

Investment Management

$34,939

WITHUMSMITH+BROWN, PC8+ years

Filed as: FROST BROWN TODD LLC

Service code 29 · EIN 61-0722001

Legal

$24,715

LCG ASSOCIATES, INC.1 year

Filed as: LCG ASSOCIATES INC

Service code 28 · EIN 75-1680350

Investment Management

$21,697

GBQ PARTNERS8+ years

Filed as: GBQ PARTNERS LLC

Service code 10 · EIN 20-2122306

Accounting

$11,500

WHITAKER MYERS WEALTH MANAGERS, LTD2 years

Filed as: WHITAKER-MYERS WEALTH MANAGERS

Service code 26 · EIN 46-5068404

Advisory (Participants)

$10,032

ABOUND WEALTH MANAGEMENT LLC6 years

Service code 26 · EIN 81-4120898

Advisory (Participants)

$9,737

BUCKINGHAM STRATEGIC PARTNERS3 years

Service code 26 · EIN 20-8307105

Advisory (Participants)

$8,004

HAMILTON CAPITAL LLC2 years

Service code 26 · EIN 83-3000171

Advisory (Participants)

$7,053

FISHER INVESTMENTS2 years

Service code 26 · EIN 20-2480800

Advisory (Participants)

$5,721

NETJETS INC. 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NETJETS INC. 401(K) PLAN

Top hat statement on fileNQDC

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