Menzie's Aviation (USA) 401(k) match, vesting and fees
What Menzie's Aviation (USA)'s 401(k) plan says about matching contributions
The Company contributes a safe harbor matching contribution of 100% of the first 3% of the participant's eligible compensation, and 50% of the next 2% of the participant's eligible compensation contributed to the Plan each pay period.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | 2023 audit report, p. 30 ↗ |
| Match vesting | Participants are immediately vested in their contributions and Company safe harbor matching contributions, plus actual earnings thereon. | 2023 audit report, p. 30 ↗ |
| Roth contributions | Participants also may designate all or a portion of their deferral contributions as after-tax contributions into a Roth account. | 2023 audit report, p. 30 ↗ |
| Loans | Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. The loans are secured by the balance in the participant's account. The loan interest rate, determined by the Plan Administrator, is set at 2% above the prime rate, as defined. | 2023 audit report, p. 30 ↗ |
| Recordkeeper | Empower Annuity Insurance Company | 2024 Schedule C ↗ |
| Independent auditor | Baker Tilly US, LLP (unmodified opinion, limited scope) | 2024 Schedule H ↗ |
| Plan type and status | 401(k) · Active | 2024 Form 5500 ↗ |
| Late participant contributions | Reported on the filing | 2024 Schedule H ↗ |
Match, vesting and other plan features are from the plan year 2023 filing's audit report (the latest one extracted so far). Rows cited to the Form 5500 and its schedules are from the plan year 2024 filing.
How the plan compares
Plan year 2024 medians for 267 defined-contribution plans in transportation and warehousing with 1,000 to 4,999 participants.
| Menzie's Aviation (USA): employer contribution per participant | $1,744 | |
| Peer median | $1,880 |
| Menzie's Aviation (USA): average balance | $39,211 | |
| Peer median | $51,904 |
| Menzie's Aviation (USA): admin expenses ÷ assets | 0.38% | |
| Peer median | 0.21% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $70.7M at the end of plan year 2021 to $81.8M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 10,498 | $81.8M | $3.6M | $1,744 | 0.38% | Not published | Form 5500 ↗ |
| 2023 | 6,254 | $69.7M | $2.9M | $1,670 | 0.21% | Quoted in the audit report, p. 30 ↗ | Form 5500 ↗ |
| 2022 | 13,603 | $59.9M | $2.6M | $1,612 | 0.44% | Not published | Form 5500 ↗ |
| 2021 | 10,296 | $70.7M | $1.2M | $792 | 0.43% | Not published | Form 5500 ↗ |
Common questions
Does Menzie's Aviation (USA) match 401(k) contributions?
The audit report attached to the Menzies Aviation (Usa), Inc. 401(k) Plan's plan year 2023 Form 5500, page 30 says: “The Company contributes a safe harbor matching contribution of 100% of the first 3% of the participant's eligible compensation, and 50% of the next 2% of the participant's eligible compensation contributed to the Plan each pay period.” Plan terms may have changed; check your current Summary Plan Description.
When is the Menzie's Aviation (USA) 401(k) match vested?
The audit report attached to the plan year 2023 Form 5500, page 30 says: “Participants are immediately vested in their contributions and Company safe harbor matching contributions, plus actual earnings thereon.”
Who manages the Menzie's Aviation (USA) 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Annuity Insurance Company. The plan administrator is Menzie'S Aviation (Usa), Inc..
I left Menzie's Aviation (USA). How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Menzie'S Aviation (Usa), Inc., (682) 251-5556) or the recordkeeper, Empower Annuity Insurance Company. The Menzie's Aviation (USA) old 401(k) page lists the contacts from every plan filing. Find an old Menzie's Aviation (USA) 401(k)
Data from the public Form 5500 annual reports Menzie's Aviation (USA) filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Menzie's Aviation (USA). Not financial advice. Report a correction · Methodology