Sun Country 401(k) match, vesting and fees
What Sun Country's 401(k) plan says about matching contributions
The Company may make employer matching and nonelective contributions based on participants’ contributions to the Plan at its discretion. For the year ended December 31, 2024, the Company matched 100% of non-pilot participants' contributions up to 4%, totaling $3,178,032. The Company is also required to make nonelective contributions to the accounts of each Pilot participant employed by the Company per the terms set forth in the Pilots' collective bargaining agreement. Effective January 1, 2022, the pilots’ collective bargaining agreement was negotiated to remove the 6% employer match for pilots and increase the nonelective contribution to, 13% for 2022, 14% for 2023, and 15% for 2024. Included within the Company match amount are pilot nonelective contributions of $18,862,990 for the year ended December 31, 2024.
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 | Audit report, p. 38 ↗ |
| Match vesting | Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company's discretionary matching and profit sharing contribution portion of their accounts is based on years of continuous service and vests on a graduated scale. Matching contributions for non-pilot participants are 100% vested after four years. Nonelective contributions are 100% vested after six years, and pilot nonelective contributions are 100% vested after three years. The Plan has provisions for full vesting at the normal retirement date, upon death, or retirement due to disability. | Audit report, p. 39 ↗ |
| Automatic enrollment | The Plan includes an auto-enrollment provision whereby all newly eligible pilots are automatically enrolled in the Plan, unless they affirmatively elect not to participate, with a default deferral rate set at 2% of eligible compensation, escalating 1% annually, which is capped at 6%. | Audit report, p. 38 ↗ |
| 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. | Audit report, p. 39 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Olsen Thielen & Co., Ltd. (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 267 defined-contribution plans in transportation and warehousing with 1,000 to 4,999 participants.
| Sun Country: employer contribution per participant | $9,226 | |
| Peer median | $1,880 |
| Sun Country: average balance | $103,324 | |
| Peer median | $51,904 |
| Sun Country: admin expenses ÷ assets | 0.11% | |
| 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 $143M at the end of plan year 2021 to $247M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 3,542 | $247M | $22M | $9,226 | 0.11% | Quoted in the audit report, p. 38 ↗ | Form 5500 ↗ |
| 2023 | 3,052 | $190M | $17.4M | $7,875 | 0.11% | Not published | Form 5500 ↗ |
| 2022 | 2,753 | $139M | $14.8M | $7,433 | 0.12% | Not published | Form 5500 ↗ |
| 2021 | 2,299 | $143M | $6.3M | $3,629 | 0.15% | Not published | Form 5500 ↗ |
Common questions
Does Sun Country match 401(k) contributions?
The audit report attached to the Sun Country, Inc. 401(k) Profit Sharing Plan's plan year 2024 Form 5500, page 38 says: “The Company may make employer matching and nonelective contributions based on participants’ contributions to the Plan at its discretion. For the year ended December 31, 2024, the Company matched 100% of non-pilot participants' contributions up to 4%, totaling $3,178,032. The Company is also required to make nonelective contributions to the accounts of each Pilot participant employed by the Company per the terms set forth in the Pilots' collective bargaining agreement. Effective January 1, 2022, the pilots’ collective bargaining agreement was negotiated to remove the 6% employer match for pilots and increase the nonelective contribution to, 13% for 2022, 14% for 2023, and 15% for 2024. Included within the Company match amount are pilot nonelective contributions of $18,862,990 for the year ended December 31, 2024.” Plan terms may have changed; check your current Summary Plan Description.
When is the Sun Country 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 39 says: “Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company's discretionary matching and profit sharing contribution portion of their accounts is based on years of continuous service and vests on a graduated scale. Matching contributions for non-pilot participants are 100% vested after four years. Nonelective contributions are 100% vested after six years, and pilot nonelective contributions are 100% vested after three years. The Plan has provisions for full vesting at the normal retirement date, upon death, or retirement due to disability.”
Who manages the Sun Country 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Sun Country, Inc..
I left Sun Country. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Sun Country, Inc., (651) 905-2796) or the recordkeeper, Fidelity Investments Institutional. The Sun Country old 401(k) page lists the contacts from every plan filing. Find an old Sun Country 401(k)
Data from the public Form 5500 annual reports Sun Country 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 Sun Country. Not financial advice. Report a correction · Methodology