Spirit Airlines, Inc. Pilot's Retirement Savings Plan

Spirit Airlines, Inc. Pilot's Retirement Savings Plan

The Spirit Airlines, Inc. Pilot's Retirement Savings Plan is a defined contribution plan established for the pilots of Spirit Airlines, the Miramar, Florida-based ultra-low-cost carrier. The plan provides individual accounts for each participant, with contributions drawn from both pilot deferrals and company profit-sharing allocations. Administration sits within Spirit Airlines, Inc., with recordkeeping and custody provided by Charles Schwab. As a single-employer 401(k) and profit-sharing vehicle, the plan's asset mix is self-directed by pilot participants through the Schwab platform. Standard menu options typically span mutual funds, collective investment trusts, and a self-directed brokerage window, covering asset classes from large-cap equities and fixed-income to target-date series. Specific investment options and any institutionally managed separate accounts remain undisclosed. The plan covers pilots domiciled across Spirit's former operating network, which reached more than 60 destinations in the United States, the Caribbean and Latin America. Spirit Airlines and the plan are now operating inside a Chapter 11 restructuring supervised by the United States Bankruptcy Court for the Southern District of New York. The carrier discharged or furloughed all employees as part of the wind-down announced in May 2026, and customer-service operations have been fully discontinued. A claims agent, Epiq Corporate Restructuring, was appointed to field inquiries; plan participants must direct future retirement-account questions to Charles Schwab as recordkeeper. No funded status, participant count or total plan assets have been publicly disclosed. The plan's structural differentiator is its insolvent sponsor. While most single-employer defined contribution plans carry portability and are protected from employer creditors by ERISA, the wind-down of Spirit Airlines severs the contribution stream and raises questions about plan termination, distribution processing, and fiduciary oversight during the bankruptcy estate's liquidation.