Retirement plan

HOSPITALITY INDUSTRY 401K PLAN

Name: BOARD OF TRUSTEES HOSPITALITY INDUSTRY 401K PLAN - HOSPITALITY INDUSTRY 401K PLAN (2022) Form 5500
Creator: BOARD OF TRUSTEES HOSPITALITY INDUSTRY 401K PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, HOSPITALITY INDUSTRY 401K PLAN, BOARD OF TRUSTEES HOSPITALITY INDUSTRY 401K PLAN

BOARD OF TRUSTEES HOSPITALITY INDUSTRY 401K PLANEIN 52-2231158Plan #001PY 2022

911 RIDGEBROOK ROAD - SPARKS, MD 211520000410-683-6500

Prospect flagsLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$39.2M

-15.6% from 2021

Total participants

5,349

+319.2% from 2021

Average account balance

$7,331

-79.9% from 2021

Annual return

-16.60%

-27.11 pp from 2021

Benchmarks

See 42 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants5,000-9,999

Cohort42 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$54.10M

Not enough data

1 years with asset history on file

Average account balance

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

$9K

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.

5,901

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$5.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$916

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

+12.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$36

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
PRUDENTIAL RETIREMENT INSURANCE AND5 years Filed as: PRUDENTIAL RET. INSURANCE & ANN. CO Service code 13 · EIN 06-1050034	Contract Administrator	$243,860
ASSOCIATED ADMINISTRATORS, LLC5 years Filed as: ASSOCIATED ADMINISTRATORS LLC Service code 13 · EIN 65-1205077	Contract Administrator	$153,745
BREDHOFF & KAISER8+ years Service code 29 · EIN 52-0969534	Legal	$24,347
NOVAK FRANCELLA LLC8+ years Filed as: NOVAK FRANCELLA, LLC Service code 10 · EIN 61-1436956	Accounting	$11,000
SEYFARTH SHAW LLP8+ years Filed as: SEYFARTH SHAW Service code 29 · EIN 36-2152202	Legal	$6,670
MEKETA INVESTMENT GROUP8+ years Filed as: MEKETA INVESTMENT GROUP INC Service code 27 · EIN 04-2659023	Advisory (Plan)	$5,000

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 assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$244K

$46 / participant

Contract admin$179K73.3%
Other / not subdivided$65K26.7%

% of EOY assets

0.621%

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: NOVAK FRANCELLA, LLC
Auditor EIN: 611436956
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$7,331

$27,839-73.7%

$61,452-88.1%

$78,104-90.6%

Participation rate

100.0%

29.8%+70.2pp

52.6%+47.4pp

74.5%+25.5pp

Annual return

-16.60%

-13.45%-3.1pp

338.96%-355.6pp

10.90%-27.5pp

Employer contribution / active EE

$367-100.0%

$1,160-100.0%

$3,128-100.0%

Participant deferral / active EE

$727

$968-24.9%

$2,125-65.8%

$5,089-85.7%

Admin fee / account holder

$46

$113-59.8%

$2,131-97.9%

$79-42.3%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND5 years

Filed as: PRUDENTIAL RET. INSURANCE & ANN. CO

Service code 13 · EIN 06-1050034

Contract Administrator

$243,860

ASSOCIATED ADMINISTRATORS, LLC5 years

Filed as: ASSOCIATED ADMINISTRATORS LLC

Service code 13 · EIN 65-1205077

Contract Administrator

$153,745

BREDHOFF & KAISER8+ years

Service code 29 · EIN 52-0969534

Legal

$24,347

NOVAK FRANCELLA LLC8+ years

Filed as: NOVAK FRANCELLA, LLC

Service code 10 · EIN 61-1436956

Accounting

$11,000

SEYFARTH SHAW LLP8+ years

Filed as: SEYFARTH SHAW

Service code 29 · EIN 36-2152202

Legal

$6,670

MEKETA INVESTMENT GROUP8+ years

Filed as: MEKETA INVESTMENT GROUP INC

Service code 27 · EIN 04-2659023

Advisory (Plan)

$5,000

HOSPITALITY INDUSTRY 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HOSPITALITY INDUSTRY 401K 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