401k Plan data: THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN plan

THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 401k Plan overview

Plan Name	THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN
Plan identification number	002

THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN Benefits

401k Plan Type

Defined Contribution Pension

Plan Features/Benefits

Profit-sharing
ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
Participant-directed brokerage accounts provided as an investment option under the plan.
Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

POLAR AIR CARGO has sponsored the creation of one or more 401k plans.

Company Name: POLAR AIR CARGO

Employer identification number (EIN): 330420245

NAIC Classification: 481000
NAIC Description: Air Transportation

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
002 2011-01-01 JOSEPH KELLEY
002 2010-01-01 JOSEPH KELLEY
002 2009-01-01 JOSEPH KELLEY

Plan id#	Filing Submission Date	Name of Administrator
002	2011-01-01	JOSEPH KELLEY
002	2010-01-01	JOSEPH KELLEY
002	2009-01-01	JOSEPH KELLEY

Plan Statistics for THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN

401k plan membership statisitcs for THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN

Measure Date Value
2011: THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 2011 401k membership
Total participants, beginning-of-year 2011-01-01 243
Total number of active participants reported on line 7a of the Form 5500 2011-01-01 0
Number of retired or separated participants receiving benefits 2011-01-01 0
Number of other retired or separated participants entitled to future benefits 2011-01-01 0
Total of all active and inactive participants 2011-01-01 0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2011-01-01 0
Total participants 2011-01-01 0
Number of participants with account balances 2011-01-01 0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2011-01-01 0
2010: THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 2010 401k membership
Total participants, beginning-of-year 2010-01-01 394
Total number of active participants reported on line 7a of the Form 5500 2010-01-01 193
Number of retired or separated participants receiving benefits 2010-01-01 3
Number of other retired or separated participants entitled to future benefits 2010-01-01 43
Total of all active and inactive participants 2010-01-01 239
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2010-01-01 4
Total participants 2010-01-01 243
Number of participants with account balances 2010-01-01 222
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2010-01-01 0
2009: THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 2009 401k membership
Total participants, beginning-of-year 2009-01-01 405
Total number of active participants reported on line 7a of the Form 5500 2009-01-01 346
Number of retired or separated participants receiving benefits 2009-01-01 2
Number of other retired or separated participants entitled to future benefits 2009-01-01 43
Total of all active and inactive participants 2009-01-01 391
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2009-01-01 3
Total participants 2009-01-01 394
Number of participants with account balances 2009-01-01 281
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2009-01-01 0

Measure	Date	Value
2011: THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 2011 401k membership
Total participants, beginning-of-year	2011-01-01	243
Total number of active participants reported on line 7a of the Form 5500	2011-01-01	0
Number of retired or separated participants receiving benefits	2011-01-01	0
Number of other retired or separated participants entitled to future benefits	2011-01-01	0
Total of all active and inactive participants	2011-01-01	0
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2011-01-01	0
Total participants	2011-01-01	0
Number of participants with account balances	2011-01-01	0
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2011-01-01	0
2010: THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 2010 401k membership
Total participants, beginning-of-year	2010-01-01	394
Total number of active participants reported on line 7a of the Form 5500	2010-01-01	193
Number of retired or separated participants receiving benefits	2010-01-01	3
Number of other retired or separated participants entitled to future benefits	2010-01-01	43
Total of all active and inactive participants	2010-01-01	239
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2010-01-01	4
Total participants	2010-01-01	243
Number of participants with account balances	2010-01-01	222
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2010-01-01	0
2009: THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 2009 401k membership
Total participants, beginning-of-year	2009-01-01	405
Total number of active participants reported on line 7a of the Form 5500	2009-01-01	346
Number of retired or separated participants receiving benefits	2009-01-01	2
Number of other retired or separated participants entitled to future benefits	2009-01-01	43
Total of all active and inactive participants	2009-01-01	391
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2009-01-01	3
Total participants	2009-01-01	394
Number of participants with account balances	2009-01-01	281
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2009-01-01	0

Financial Data on THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN

Measure	Date	Value
2011 : THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 2011 401k financial data
Total transfer of assets from this plan	2011-12-31	$32,854,258
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2011-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2011-12-31	$0
Total income from all sources (including contributions)	2011-12-31	$1,768,082
Total loss/gain on sale of assets	2011-12-31	$-345,291
Total of all expenses incurred	2011-12-31	$1,088,966
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2011-12-31	$1,084,254
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2011-12-31	$2,733,161
Value of total assets at end of year	2011-12-31	$0
Value of total assets at beginning of year	2011-12-31	$32,175,142
Total of administrative expenses incurred including professional, contract, advisory and management fees	2011-12-31	$4,712
Total interest from all sources	2011-12-31	$42,944
Total dividends received (eg from common stock, registered investment company shares)	2011-12-31	$590,110
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2011-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2011-12-31	$576,543
Was this plan covered by a fidelity bond	2011-12-31	Yes
Value of fidelity bond cover	2011-12-31	$5,000,000
If this is an individual account plan, was there a blackout period	2011-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2011-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2011-12-31	No
Contributions received from participants	2011-12-31	$1,980,610
Participant contributions at end of year	2011-12-31	$0
Participant contributions at beginning of year	2011-12-31	$959,216
Assets. Other investments not covered elsewhere at end of year	2011-12-31	$0
Assets. Other investments not covered elsewhere at beginning of year	2011-12-31	$322,125
Income. Received or receivable in cash from other sources (including rollovers)	2011-12-31	$6,260
Administrative expenses (other) incurred	2011-12-31	$4,712
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2011-12-31	No
Value of net income/loss	2011-12-31	$679,116
Value of net assets at end of year (total assets less liabilities)	2011-12-31	$0
Value of net assets at beginning of year (total assets less liabilities)	2011-12-31	$32,175,142
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2011-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2011-12-31	No
Were any leases to which the plan was party in default or uncollectible	2011-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2011-12-31	$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2011-12-31	$26,298,520
Interest on participant loans	2011-12-31	$42,756
Value of interest in common/collective trusts at end of year	2011-12-31	$0
Value of interest in common/collective trusts at beginning of year	2011-12-31	$2,149,489
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2011-12-31	$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2011-12-31	$1,597,425
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2011-12-31	$1,597,425
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2011-12-31	$188
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2011-12-31	$-1,267,411
Net investment gain or loss from common/collective trusts	2011-12-31	$14,569
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2011-12-31	No
Was there a failure to transmit to the plan any participant contributions	2011-12-31	No
Has the plan failed to provide any benefit when due under the plan	2011-12-31	No
Contributions received in cash from employer	2011-12-31	$746,291
Income. Dividends from common stock	2011-12-31	$13,567
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2011-12-31	$1,084,254
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-3	2011-12-31	No
Assets. Corporate common stocks other than exployer securities at end of year	2011-12-31	$0
Assets. Corporate common stocks other than exployer securities at beginning of year	2011-12-31	$848,367
Did the plan have assets held for investment	2011-12-31	No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2011-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2011-12-31	Yes
Aggregate proceeds on sale of assets	2011-12-31	$3,309,593
Aggregate carrying amount (costs) on sale of assets	2011-12-31	$3,654,884
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2011-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2011-12-31	Disclaimer
Accountancy firm name	2011-12-31	CROWE HORWATH LLC
Accountancy firm EIN	2011-12-31	350921680
2010 : THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 2010 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets	2010-12-31	$102,823
Total unrealized appreciation/depreciation of assets	2010-12-31	$102,823
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2010-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2010-12-31	$0
Total income from all sources (including contributions)	2010-12-31	$6,844,235
Total loss/gain on sale of assets	2010-12-31	$173,355
Total of all expenses incurred	2010-12-31	$1,272,326
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2010-12-31	$1,269,699
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2010-12-31	$2,925,320
Value of total assets at end of year	2010-12-31	$32,175,142
Value of total assets at beginning of year	2010-12-31	$26,603,233
Total of administrative expenses incurred including professional, contract, advisory and management fees	2010-12-31	$2,627
Total interest from all sources	2010-12-31	$57,464
Total dividends received (eg from common stock, registered investment company shares)	2010-12-31	$388,963
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2010-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2010-12-31	$384,350
Was this plan covered by a fidelity bond	2010-12-31	Yes
Value of fidelity bond cover	2010-12-31	$5,000,000
If this is an individual account plan, was there a blackout period	2010-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2010-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2010-12-31	No
Contributions received from participants	2010-12-31	$2,140,852
Participant contributions at end of year	2010-12-31	$959,216
Participant contributions at beginning of year	2010-12-31	$844,388
Assets. Other investments not covered elsewhere at end of year	2010-12-31	$322,125
Assets. Other investments not covered elsewhere at beginning of year	2010-12-31	$0
Income. Received or receivable in cash from other sources (including rollovers)	2010-12-31	$110,832
Administrative expenses (other) incurred	2010-12-31	$2,627
Total non interest bearing cash at end of year	2010-12-31	$0
Total non interest bearing cash at beginning of year	2010-12-31	$592,557
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2010-12-31	No
Value of net income/loss	2010-12-31	$5,571,909
Value of net assets at end of year (total assets less liabilities)	2010-12-31	$32,175,142
Value of net assets at beginning of year (total assets less liabilities)	2010-12-31	$26,603,233
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2010-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2010-12-31	No
Were any leases to which the plan was party in default or uncollectible	2010-12-31	No
Value of interest in registered invesment companies (eg mutual funds) at end of year	2010-12-31	$26,298,520
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2010-12-31	$21,388,964
Interest on participant loans	2010-12-31	$57,058
Value of interest in common/collective trusts at end of year	2010-12-31	$2,149,489
Value of interest in common/collective trusts at beginning of year	2010-12-31	$2,420,746
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2010-12-31	$1,597,425
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2010-12-31	$768,803
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2010-12-31	$768,803
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)	2010-12-31	$406
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2010-12-31	$3,105,421
Net investment gain or loss from common/collective trusts	2010-12-31	$90,889
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2010-12-31	No
Was there a failure to transmit to the plan any participant contributions	2010-12-31	No
Has the plan failed to provide any benefit when due under the plan	2010-12-31	No
Contributions received in cash from employer	2010-12-31	$673,636
Employer contributions (assets) at end of year	2010-12-31	$0
Employer contributions (assets) at beginning of year	2010-12-31	$88,376
Income. Dividends from common stock	2010-12-31	$4,613
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2010-12-31	$1,269,699
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-3	2010-12-31	No
Assets. Corporate common stocks other than exployer securities at end of year	2010-12-31	$848,367
Assets. Corporate common stocks other than exployer securities at beginning of year	2010-12-31	$499,399
Did the plan have assets held for investment	2010-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2010-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2010-12-31	No
Aggregate proceeds on sale of assets	2010-12-31	$3,739,828
Aggregate carrying amount (costs) on sale of assets	2010-12-31	$3,566,473
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)	2010-12-31	Yes
Opinion of an independent qualified public accountant for this plan	2010-12-31	Disclaimer
Accountancy firm name	2010-12-31	CROWE HORWATH, LLP
Accountancy firm EIN	2010-12-31	350921680
2009 : THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 2009 401k financial data
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2009-12-31	$0

Form 5500 Responses for THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN

2011: THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 2011 form 5500 responses
2011-01-01	Type of plan entity	Single employer plan
2011-01-01	Submission has been amended	No
2011-01-01	This submission is the final filing	Yes
2011-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2011-01-01	Plan is a collectively bargained plan	Yes
2011-01-01	Plan funding arrangement – Trust	Yes
2011-01-01	Plan benefit arrangement - Trust	Yes
2010: THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 2010 form 5500 responses
2010-01-01	Type of plan entity	Single employer plan
2010-01-01	Submission has been amended	Yes
2010-01-01	This submission is the final filing	No
2010-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2010-01-01	Plan is a collectively bargained plan	Yes
2010-01-01	Plan funding arrangement – Trust	Yes
2010-01-01	Plan benefit arrangement - Trust	Yes
2009: THE POLAR AIR CARGO PILOTS 401(K) SAVINGS & INVESTMENT PLAN 2009 form 5500 responses
2009-01-01	Type of plan entity	Single employer plan
2009-01-01	Submission has been amended	No
2009-01-01	This submission is the final filing	No
2009-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2009-01-01	Plan is a collectively bargained plan	Yes
2009-01-01	Plan funding arrangement – Trust	Yes
2009-01-01	Plan benefit arrangement - Trust	Yes

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Company Name:	POLAR AIR CARGO
Employer identification number (EIN):	330420245
NAIC Classification:	481000
NAIC Description:	Air Transportation