Spirit Aerosystems Holdings, Inc. 401(k) Review & Grade
Spirit Aerosystems Holdings, Inc. Retirement & Savings Plan
Wichita, KSManagement of Companies7,778 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,319Employer $ per active participant
$6,064Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$1.2BNet plan assets, end of year
$188,158Average balance per account
Score breakdown
- Employer generosity16.1 / 5032th percentile for employer $ per participant
- Low cost15.9 / 2564th percentile for low admin cost vs. same-size plans
- Employee saving6.9 / 1546th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score46 / 100 · Grade C
This plan vs. peers
Peers: Management of Companies plans with 2,500–9,999 active participants (60 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 64th |
| Employee saving | 46th |
| Peers that auto-enroll | 58% |
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Red flags from the filing
Corrective distributions: the plan refunded $1,498 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Spirit Aerosystems Holdings put in about $2,319 per active participant, below the typical peer ($3,455). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $18,037,218 |
| Participant (employee) contributions | $47,164,369 |
| Other contributions (incl. rollovers in) | $3,379,111 |
| Administrative expenses paid from the plan | $969,082 |
| Contract administrator fees | $37,844 |
| Investment advisory & management fees | $590,361 |
| Benefits paid out | $133,307,890 |
| Net assets, start / end of year | $1.2B / $1.2B |
| Active participants, start / end of year | 7,736 / 7,819 |
| Participants with account balances | 6,508 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Allen Gibbs & Houlik L. C. |
Largest service providers (Schedule C)
| Voya Retirement Advisors LLC | $479,074 reported compensation |
| Voya Institutional Plan Services | $374,449 reported compensation |
| Capfinancial Partners, Inc. | $71,145 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251011050422NAL0008348801001, received 2025-10-11, EIN 20-2436320, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.