Air Canada 401(k) Review & Grade
Air Canada U.S. Tax Incentive Savings Plan
Transportation & Warehousing764 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,536Employer $ per active participant
$3,450Employee $ saved per active participant
0.50%Direct admin cost, % of plan assets
$37.2MNet plan assets, end of year
$39,859Average balance per account
Score breakdown
- Employer generosity31.1 / 5062th percentile for employer $ per participant
- Low cost5.8 / 2523th percentile for low admin cost vs. same-size plans
- Employee saving8.5 / 1557th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Transportation & Warehousing plans with 500–2,499 active participants (392 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 23th |
| Employee saving | 57th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Air Canada put in about $1,536 per active participant, more than the typical peer ($1,070). 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.
- Direct plan expenses (0.50% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $1,172,519 |
| Participant (employee) contributions | $2,634,436 |
| Other contributions (incl. rollovers in) | $185,406 |
| Administrative expenses paid from the plan | $173,311 |
| Investment advisory & management fees | $28,283 |
| Other admin expenses | $135,822 |
| Benefits paid out | $7,634,904 |
| Net assets, start / end of year | $32.4M / $37.2M |
| Active participants, start / end of year | 720 / 807 |
| Participants with account balances | 934 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pricewaterhousecoopers LLP |
Largest service providers (Schedule C)
| Towers Watson Investment Services | $135,822 reported compensation |
| Strategic Advisors, Inc. | $28,283 reported compensation |
| Fidelity Investments Institutional | $9,206 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250606132257NAL0009971827001, received 2025-06-06, EIN 13-1394887, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.