Sky Venture Management, LLC 401(k) Review & Grade
Ifly 401(k) Plan
Austin, TXArts, Entertainment & Recreation610 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,586Employer $ per active participant
$2,831Employee $ saved per active participant
0.69%Direct admin cost, % of plan assets
$13.1MNet plan assets, end of year
$19,599Average balance per account
Score breakdown
- Employer generosity35.0 / 5070th percentile for employer $ per participant
- Low cost3.3 / 2513th percentile for low admin cost vs. same-size plans
- Employee saving9.0 / 1560th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
Total score47 / 100 · Grade C
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 70th |
| Lower admin cost | 13th |
| Employee saving | 60th |
| Peers that auto-enroll | 38% |
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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 Venture Management put in about $1,586 per active participant, more than the typical peer ($995). 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 (0.69% 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 | $966,703 |
| Participant (employee) contributions | $1,725,253 |
| Other contributions (incl. rollovers in) | $197,021 |
| Administrative expenses paid from the plan | $80,492 |
| Contract administrator fees | $74,156 |
| Investment advisory & management fees | $6,336 |
| Benefits paid out | $1,615,378 |
| Net assets, start / end of year | $10.2M / $13.1M |
| Active participants, start / end of year | 602 / 617 |
| Participants with account balances | 667 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Bauer & Company, LLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $63,551 reported compensation |
| Burnham Gibson Wealth Advisors, Inc | $45,623 reported compensation |
| Orenda Retirement, LLC | $22,701 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250908171045NAL0012069123001, received 2025-09-08, EIN 20-0212902, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.