Retirement plan

TALON AIR 401K PLAN

Name: TALON AIR, INC. - TALON AIR 401K PLAN (2015) Form 5500
Creator: TALON AIR, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TALON AIR 401K PLAN, TALON AIR, INC.

TALON AIR, INC.EIN 52-2214389Plan #001PY 2015

8300 REPUBLIC AIRPORT - FARMINGDALE, NY 11735516-466-6680talonairjets.comLinkedIn51-200 employeesairlines/aviation

Prospect flagsLow returnsHigh feesHigh cashLow participationCorrective distributions

How to read this page

Total assets (EOY)

$2.6M

No prior year

Total participants

160

No prior year

Average account balance

$30,290

No prior year

Annual return

-4.80%

No prior year

Benchmarks

See 938 peers

Peer group

Industry48 - Transportation and Warehousing

Plan typeDefined contribution

Participants100-249

Cohort938 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$10.46M

Not enough data

1 years with asset history on file

Average account balance

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

$73K

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.

143

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.

57.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.55M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+16.39%

Not enough data

1 years with return on file

Admin fee / account holder

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

$149

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 5 by compensation

Provider	Service type	Compensation
UBS FINANCIAL SERVICES INC1+ years Filed as: UBS FINANCIAL SERVICES Service code 26 · EIN 13-2638166 1285 AVENUE OF THE AMERICAS · NEW YORK, NY 100196028	Advisory (Participants)	$17,344
RPG CONSULTANTS1+ years Service code 15 · EIN 13-4077182 181 SO. FRANKLIN AVENUE · VALLEY STREAM, NY 11581	Recordkeeping	$10,620
EISNERAMPER LLP1+ years Service code 10 · EIN 13-1639826 6900 JERICHO TURNPIKE · SYOSSET, NY 11791	Accounting	$10,000
TMI CPA, P.C.1+ years Service code 10 · EIN 47-2426908 150 MOTOR PARKWAY · HAUPPAUGE, NY 11788	Accounting	$9,750
LT TRUST COMPANY1+ years Filed as: MG TRUST COMPANY Service code 18 · EIN 75-3182674 717 17TH STREET · DENVER, CO 80202	Custodial (other than securities); Cu...	$2,951

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$51K

$405 / participant

Investment mgmt$17K34.2%
Other / not subdivided$33K65.8%

% of EOY assets

1.968%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: TMI CPA, P.C.
Auditor EIN: 472426908
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,290

$46,745-35.2%

$60,547-50.0%

$52,331-42.1%

Participation rate

40.0%

58.6%-18.6pp

68.0%-28.0pp

68.1%-28.1pp

Annual return

-4.80%

0.61%-5.4pp

335.64%-340.4pp

4.54%-9.3pp

Employer contribution / active EE

$1,259-100.0%

$2,419-100.0%

$1,882-100.0%

Participant deferral / active EE

$3,374

$2,145+57.3%

$3,328+1.4%

$3,022+11.6%

Admin fee / account holder

$596

$537+11.0%

$4,536-86.9%

$592+0.8%

Provider

Service type

Compensation

UBS FINANCIAL SERVICES INC1+ years

Filed as: UBS FINANCIAL SERVICES

Service code 26 · EIN 13-2638166

1285 AVENUE OF THE AMERICAS · NEW YORK, NY 100196028

Advisory (Participants)

$17,344

RPG CONSULTANTS1+ years

Service code 15 · EIN 13-4077182

181 SO. FRANKLIN AVENUE · VALLEY STREAM, NY 11581

Recordkeeping

$10,620

EISNERAMPER LLP1+ years

Service code 10 · EIN 13-1639826

6900 JERICHO TURNPIKE · SYOSSET, NY 11791

Accounting

$10,000

TMI CPA, P.C.1+ years

Service code 10 · EIN 47-2426908

150 MOTOR PARKWAY · HAUPPAUGE, NY 11788

Accounting

$9,750

LT TRUST COMPANY1+ years

Filed as: MG TRUST COMPANY

Service code 18 · EIN 75-3182674

717 17TH STREET · DENVER, CO 80202

Custodial (other than securities); Cu...

$2,951

TALON AIR 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TALON AIR 401K 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