Retirement plan

VIRGIN HOTELS 401(K) PLAN

Name: VIRGIN HOTELS NORTH AMERICA, LLC - VIRGIN HOTELS 401(K) PLAN (2023) Form 5500
Creator: VIRGIN HOTELS NORTH AMERICA, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VIRGIN HOTELS 401(K) PLAN, VIRGIN HOTELS NORTH AMERICA, LLC

VIRGIN HOTELS NORTH AMERICA, LLCEIN 27-2839900Plan #002PY 2023

3390 MARY STREET, SUITE 218 - COCONUT GROVE, FL 33133954-224-1110LinkedIn201-500 employeeshospitality

Other plans on this EIN

1 filing

#001Retirement-$5.5M assets

Prospect flagsLow participationFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$3.5M

+56.0% from 2022

Total participants

644

+13.2% from 2022

Average account balance

$11,101

+48.5% from 2022

Annual return

24.69%

+42.01 pp from 2022

Benchmarks

See 911 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants250-999

Cohort911 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.70M

Not enough data

1 years with asset history on file

Average account balance

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

$11K

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.

413

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.

53.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.28M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+17.31%

Not enough data

1 years with return on file

Admin fee / account holder

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

$127

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 2 by compensation

Provider	Service type	Compensation
ROSALINE MENDOZA CPA PA2 years Filed as: ROSALINE MENDOZA, CPA, PA Service code 10 · EIN 27-1323021	Accounting	$15,500
CMC INTERACTIVE, LLC3 years Service code 15 · EIN 13-4180091	Recordkeeping	$14,441

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$30K

$55 / participant

Recordkeeping$14K48.2%
Other / not subdivided$16K51.8%

% of EOY assets

0.867%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: ROSALINE MENDOZA, CPA, PA
Auditor EIN: 271323021
Audit fees: $15,500
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$11,101

$26,114-57.5%

$58,544-81.0%

$74,440-85.1%

Participation rate

38.7%

32.1%+6.6pp

50.9%-12.2pp

70.7%-32.1pp

Annual return

24.69%

32.51%-7.8pp

4249.56%-4224.9pp

34.37%-9.7pp

Employer contribution / active EE

$556

$536+3.9%

$1,053-47.2%

$2,638-78.9%

Participant deferral / active EE

$1,371

$1,075+27.6%

$1,923-28.7%

$4,529-69.7%

Admin fee / account holder

$96

$649-85.2%

$2,520-96.2%

$348-72.3%

Provider

Service type

Compensation

ROSALINE MENDOZA CPA PA2 years

Filed as: ROSALINE MENDOZA, CPA, PA

Service code 10 · EIN 27-1323021

Accounting

$15,500

CMC INTERACTIVE, LLC3 years

Service code 15 · EIN 13-4180091

Recordkeeping

$14,441

VIRGIN HOTELS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VIRGIN HOTELS 401(K) 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