Skywest, Inc. 401(k) Review & Grade
Skywest, Inc. Employees' Retirement Plan
ST. George, UTTransportation & Warehousing14,888 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,336Employer $ per active participant
$5,174Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$1.4BNet plan assets, end of year
$111,377Average balance per account
Score breakdown
- Employer generosity40.0 / 5080th percentile for employer $ per participant
- Low cost16.8 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving9.7 / 1564th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Transportation & Warehousing plans with 10,000+ active participants (46 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 67th |
| Employee saving | 64th |
| Peers that auto-enroll | 30% |
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Red flags from the filing
Corrective distributions: the plan refunded $18,212 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Skywest put in about $4,336 per active participant, more than the typical peer ($1,415). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $64,560,391 |
| Participant (employee) contributions | $77,037,248 |
| Other contributions (incl. rollovers in) | $4,934,086 |
| Administrative expenses paid from the plan | $732,403 |
| Investment advisory & management fees | $225,964 |
| Benefits paid out | $110,773,485 |
| Net assets, start / end of year | $1.2B / $1.4B |
| Active participants, start / end of year | 14,259 / 15,517 |
| Participants with account balances | 12,750 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Weaver and Tidwell LLP |
| Employer stock held by plan | $45,304,719 |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $476,703 reported compensation |
| Soltis Investment Advisors | $45,000 reported compensation |
| Fisher Investments | $32,160 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251106093315NAL0012041201001, received 2025-11-06, EIN 87-0292166, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.