Retirement plan

NEW YORK HOTEL TRADES COUNCIL & HOTEL ASSOCIATION OF NEW YORK CITY, INC. 401K SAVINGS PLAN

Name: THE BOARD OF TRUSTEES - NEW YORK HOTEL TRADES COUNCIL & HOTEL ASSOCIATION OF NEW YORK CITY, INC. 401K SAVINGS PLAN (2020) Form 5500
Creator: THE BOARD OF TRUSTEES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NEW YORK HOTEL TRADES COUNCIL & HOTEL ASSOCIATION OF NEW YORK CITY, INC. 401K SAVINGS PLAN, THE BOARD OF TRUSTEES

THE BOARD OF TRUSTEESdba NEW YORK HOTEL TRADES COUNCILEIN 13-4178178Plan #001PY 2020

305 WEST 44TH STREET - NEW YORK, NY 100365402212-586-6400

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$630.1M

-13.7% from 2016

Total participants

32,619

+2.9% from 2016

Average account balance

$50,949

-9.3% from 2016

Annual return

10.29%

-8.22 pp from 2016

Benchmarks

See 33 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants>=10,000

Cohort33 peers

Snapshot2020

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$813.09M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$63K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

12,809

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

46.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$68.75M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+11.96%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$99

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290	Contract Administrator	$147,184
NYHTC - HEALTH CENTER, INC.4 years Service code 15 · EIN 13-1595091	Recordkeeping	$136,474
PITTA LLP3 years Service code 29 · EIN 26-3852082	Legal	$34,111
NYHTC - HEALTH BENEFITS FUND4 years Service code 15 · EIN 13-9126923	Recordkeeping	$26,658
MSPC3 years Filed as: MSPC CERTIFIED ACCOUNTS AND ADVISOR Service code 10 · EIN 22-2951202	Accounting	$10,000

Plan features & details

Pension benefit codes2E2F2G2J2K2T3C

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
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 contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3C
Plan not intended to be qualified
A plan not intended to be qualified under Code sections 401 403 or 408.

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$477K

$15 / participant

Contract admin$147K30.9%
Other / not subdivided$330K69.1%

% of EOY assets

0.076%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MSPC CERTIFIED PUBLIC ACCOUNTANTS
Auditor EIN: 222951202
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,949

$48,082+6.0%

$77,557-34.3%

$106,273-52.1%

Participation rate

37.1%

33.6%+3.6pp

54.2%-17.1pp

70.8%-33.7pp

Annual return

10.29%

15.72%-5.4pp

54.83%-44.5pp

21.70%-11.4pp

Employer contribution / active EE

$457-100.0%

$987-100.0%

$2,722-100.0%

Participant deferral / active EE

$816

$1,043-21.7%

$1,861-56.1%

$4,601-82.3%

Admin fee / account holder

$39

$79-51.5%

$2,860-98.7%

$78-50.8%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY6+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$147,184

NYHTC - HEALTH CENTER, INC.4 years

Service code 15 · EIN 13-1595091

Recordkeeping

$136,474

PITTA LLP3 years

Service code 29 · EIN 26-3852082

Legal

$34,111

NYHTC - HEALTH BENEFITS FUND4 years

Service code 15 · EIN 13-9126923

Recordkeeping

$26,658

MSPC3 years

Filed as: MSPC CERTIFIED ACCOUNTS AND ADVISOR

Service code 10 · EIN 22-2951202

Accounting

$10,000

NEW YORK HOTEL TRADES COUNCIL & HOTEL ASSOCIATION OF NEW YORK CITY, INC. 401K SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NEW YORK HOTEL TRADES COUNCIL & HOTEL ASSOCIATION OF NEW YORK CITY, INC. 401K SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion