Mesa Air Group Inc 401(k) Review & Grade
Mesa Air Group Inc 401k Plan
Phoenix, AZTransportation & Warehousing1,968 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,486Employer $ per active participant
$4,895Employee $ saved per active participant
0.36%Direct admin cost, % of plan assets
$109.9MNet plan assets, end of year
$45,098Average balance per account
Score breakdown
- Employer generosity30.6 / 5061th percentile for employer $ per participant
- Low cost8.5 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1574th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score50 / 100 · Grade C
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 61th |
| Lower admin cost | 34th |
| Employee saving | 74th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $12,148 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mesa Air Group put in about $1,486 per active participant, more than the typical peer ($1,070). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (0.36% of assets) are well above similar-size plans (0.23%). 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.
- 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 | $2,925,247 |
| Participant (employee) contributions | $9,633,955 |
| Other contributions (incl. rollovers in) | $304,869 |
| Administrative expenses paid from the plan | $392,390 |
| Contract administrator fees | $392,390 |
| Benefits paid out | $22,709,262 |
| Net assets, start / end of year | $107.5M / $109.9M |
| Active participants, start / end of year | 2,203 / 1,733 |
| Participants with account balances | 2,436 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Lincoln National Corporation | $227,045 reported compensation |
| Morgan Stanley Global Banking | $165,345 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250923162154NAL0008256659001, received 2025-09-23, EIN 85-0302351, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.