Sky Chefs, Inc. 401(k) Review & Grade
Sky Chefs, Inc. Moneysmart 401k Savings and Retirement Plan
Irving, TXAccommodation & Food Services13,138 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$297Employer $ per active participant
$1,268Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$256.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity18.8 / 5038th percentile for employer $ per participant
- Low cost4.5 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving9.0 / 1560th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score42 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 10,000+ active participants (41 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 38th |
| Lower admin cost | 18th |
| Employee saving | 60th |
| Peers that auto-enroll | 24% |
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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
- Sky Chefs put in about $297 per active participant, below the typical peer ($393). 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.
- Direct plan expenses (0.20% of assets) are well above similar-size plans (0.09%). 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.
- 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 | $3,901,331 |
| Participant (employee) contributions | $16,662,974 |
| Other contributions (incl. rollovers in) | $943,586 |
| Administrative expenses paid from the plan | $476,639 |
| Investment advisory & management fees | $26,548 |
| Other admin expenses | $1,518 |
| Benefits paid out | $22,019,831 |
| Net assets, start / end of year | $226.9M / $256.7M |
| Active participants, start / end of year | 13,790 / 12,486 |
| Participants with account balances | 6,444 |
| Auto-enrollment (feature code 2S) | Yes |
Largest service providers (Schedule C)
| Merrill Lynch, Pierce, Fenner and S | $406,415 reported compensation |
| GGF, LLP | $42,158 reported compensation |
| Captrust Financial Advisors | $26,548 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251222123343NAL0005278595001, received 2025-12-22, EIN 13-1318367, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.