Plan Snapshot
- Plan Sponsor: Modern Aviation, INC.
- Sponsor EIN: 824451754
- Sponsor Address: 301 S POLK, AMARILLO, TX, 79101
- Plan Type: 401(k)
- Total Participants: 464
- Total Assets: $7.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 464 | $7.0M | $471,231 | $891,218 |
| 2023 | 360 | $5.2M | $368,079 | $703,119 |
| 2022 | 242 | $3.6M | $158,104 | $362,061 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $32,743 | — | $32,743 |
| HAYS FINANCIAL GROUP | ADVISOR | $29,111 | — | $29,111 |
| BARNES DENNIG AND CO LTD | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- HAYS FINANCIAL GROUP — ADVISOR
- BARNES DENNIG AND CO LTD — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $61,854
- Estimated Expense Ratio: 0.880% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $65,887 | $33,144 | — | — | — |
| 2023 | $732,166 | — | $46,517 | — | — |
| 2022 | $396,756 | — | $15,033 | — | — |