Envoy Air Inc. 401(k) Review & Grade
Envoy Air Inc. 401(k) Plan
Irving, TXTransportation & Warehousing24,966 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$932Employer $ per active participant
$2,089Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$744.1MNet plan assets, end of year
$54,560Average balance per account
Score breakdown
- Employer generosity16.7 / 5033th percentile for employer $ per participant
- Low cost4.5 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving3.7 / 1524th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-13 pts2 issues reported on the filing
Total score12 / 100 · Grade F
This plan vs. peers
Peers: Transportation & Warehousing plans with 10,000+ active participants (46 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 33th |
| Lower admin cost | 18th |
| Employee saving | 24th |
| Peers that auto-enroll | 30% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($1,854 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $9,956 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Envoy Air put in about $932 per active participant, below the typical peer ($1,415). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.20% of assets) are well above similar-size plans (0.09%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $23,277,665 |
| Participant (employee) contributions | $52,150,934 |
| Other contributions (incl. rollovers in) | $5,524,757 |
| Administrative expenses paid from the plan | $1,400,117 |
| Investment advisory & management fees | $755,725 |
| Benefits paid out | $66,882,106 |
| Net assets, start / end of year | $661.8M / $744.1M |
| Active participants, start / end of year | 24,610 / 25,323 |
| Participants with account balances | 13,638 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $660,925 reported compensation |
| Empower Annuity Ins. Co. of America | $628,172 reported compensation |
| NFP Retirement Inc | $92,250 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014112036NAL0005660802001, received 2025-10-14, EIN 38-2036404, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.