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 (2021) 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 2021

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

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$702.7M

-13.7% from 2016

Total participants

29,966

+2.9% from 2016

Average account balance

$56,475

-9.3% from 2016

Annual return

13.28%

-8.22 pp from 2016

Benchmarks

See 37 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants>=10,000

Cohort37 peers

Snapshot2021

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 6 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290	Contract Administrator	$838,680
NYHTC - HEALTH BENEFITS FUND5 years Service code 15 · EIN 13-9126923	Recordkeeping	$169,931
NYHTC - HEALTH CENTER, INC.5 years Service code 15 · EIN 13-1595091	Recordkeeping	$103,452
PITTA LLP4 years Service code 29 · EIN 26-3852082	Legal	$49,268
ELLENOFF GROSSMAN & SCHOLE LLP1 year Service code 29 1345 SIXTH AVENUE · NEW YORK, NY 10105	Legal	$32,000
MSPC4 years Filed as: MSPC CERTIFIED ACCOUNTS AND ADVISOR Service code 10 · EIN 22-2951202	Accounting	$10,000

Plan features & details

Pension benefit codes2E2F2G2J2T

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.
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.

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

$1.3M

$43 / participant

Contract admin$839K66.2%
Other / not subdivided$429K33.8%

% of EOY assets

0.180%

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

$56,475

$51,728+9.2%

$80,793-30.1%

$106,520-47.0%

Participation rate

40.3%

33.9%+6.4pp

54.2%-13.9pp

71.3%-31.0pp

Annual return

13.28%

32.29%-19.0pp

87.33%-74.0pp

19.28%-6.0pp

Employer contribution / active EE

$460-100.0%

$1,160-100.0%

$2,840-100.0%

Participant deferral / active EE

$842

$1,076-21.8%

$2,144-60.7%

$4,948-83.0%

Admin fee / account holder

$102

$80+26.8%

$3,375-97.0%

$75+36.7%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY7+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$838,680

NYHTC - HEALTH BENEFITS FUND5 years

Service code 15 · EIN 13-9126923

Recordkeeping

$169,931

NYHTC - HEALTH CENTER, INC.5 years

Service code 15 · EIN 13-1595091

Recordkeeping

$103,452

PITTA LLP4 years

Service code 29 · EIN 26-3852082

Legal

$49,268

ELLENOFF GROSSMAN & SCHOLE LLP1 year

Service code 29

1345 SIXTH AVENUE · NEW YORK, NY 10105

Legal

$32,000

MSPC4 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