How much does Convoy, Inc. contribute to its ESOP?

In 2022, employer contributions to the Convoy, Inc. plan averaged $11,945 per active participant, above the $1,114 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Convoy, Inc. 401(k)?

The average participant account balance was $44,500 for plan year 2022, based on 133 accounts.

Convoy, Inc.ESOP

Name: Convoy, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

CONVOY, INC. EMPLOYEE STOCK OWNERSHIP PLAN · KANSAS CITY, KS · plan year 2022

Employer contribution per participant · 2022

$11,945

Convoy, Inc.'s 2022 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $5,918,541 across 133 participant accounts, with employer contributions averaging $11,945 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $1M–$10M size bracket, benchmarked here against 30,021 comparable plans and shown alongside other transportation & warehousing employers. By assets it is among the smaller plans on file in Kansas (623rd of 828), and 1,517th of 2,677 in transportation & warehousing.

Plan summary
Net assets, end of year$5,918,541
Participants with balances133
Active participants64
Employer contributions$764,475
Employee contributions—
Employer contribution per active participant$11,945
Average account balance$44,500
Benefits paid to participants$757,104
Plan auditUnmodified (clean) audit opinion
AuditorPICKETT, CHANEY & MCMULLEN LLP

Plan history3

Yearassets · accounts · employer contribution

2024$4.1M · 123 accts · $720K emplr

2023$4.9M · 125 accts · $1.0M emplr

2022$5.9M · 133 accts · $764K emplr

Employer contributions to the Convoy, Inc. plan · 2022

Employer contribution per active participant$11,945

Median for plans this size$1,114

2024$11,992 per active participant

2023$16,601 per active participant

2022$11,945 per active participant

Convoy, Inc.'s 2022 employer contribution ran above the $1,114 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

Administrative cost history3

2024Not separately reported

2023Not separately reported

2022Not separately reported

Similar plansTransportation & Warehousing · Kansas
National Carriers, Inc. KS$10.5M · 0.14%
Fry-Wagner Systems, Inc. KS$8.3M · 0.43%
Village Travel, LLC KS$6.3M · 0.57%
The United Warehouse Company KS$5.9M · 0.55%
Farmers Oil Company, Inc. KS$4.9M · 0.80%
Keim Ts, Inc. KS$4.5M · 0.59%
Agri Trails Coop, Inc. KS$4.5M · 0.02%
Doug Bradley Trucking Inc KS$3.5M · 0.89%

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Source: U.S. Department of Labor, Form 5500 series, EIN 481217456 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.