Retirement plan

HOSPITALITY INDUSTRY 401K PLAN

Name: BOARD OF TRUSTEES HOSPITALITY INDUSTRY 401K PLAN - HOSPITALITY INDUSTRY 401K PLAN (2023) 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 2023

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

Prospect flagsLow assets / participantFailed to transmit contributions

How to read this page

Total assets (EOY)

$46.5M

+18.5% from 2022

Total participants

5,481

+2.5% from 2022

Average account balance

$8,479

+15.7% from 2022

Annual return

15.83%

+32.43 pp from 2022

Benchmarks

See 49 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants5,000-9,999

Cohort49 peers

Snapshot2023

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 AND6 years Filed as: PRUDENTIAL RET. INSURANCE & ANN. CO Service code 13 · EIN 06-1050034	Contract Administrator	$252,959
ASSOCIATED ADMINISTRATORS, LLC6 years Filed as: ASSOCIATED ADMINISTRATORS LLC Service code 13 · EIN 65-1205077	Contract Administrator	$156,626
BREDHOFF & KAISER9+ years Service code 29 · EIN 52-0969534	Legal	$32,243
NOVAK FRANCELLA LLC9+ years Filed as: NOVAK FRANCELLA, LLC Service code 10 · EIN 61-1436956	Accounting	$11,914
SEYFARTH SHAW LLP9+ years Filed as: SEYFARTH SHAW Service code 29 · EIN 36-2152202	Legal	$8,140
MEKETA INVESTMENT GROUP9+ 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

$613K

$115 / participant

Recordkeeping$3140.1%
Investment mgmt$5K0.8%
Legal$40K6.6%
Contract admin$190K30.9%
Other / not subdivided$378K61.6%

% of EOY assets

1.320%

all-in expense ratio

Categories reported

4 / 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: $11,600
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$8,479

$30,302-72.0%

$58,544-85.5%

$103,514-91.8%

Participation rate

100.0%

29.5%+70.5pp

50.9%+49.1pp

73.3%+26.7pp

Annual return

15.83%

19.69%-3.9pp

4249.56%-4233.7pp

33.12%-17.3pp

Employer contribution / active EE

$512-100.0%

$1,053-100.0%

$3,210-100.0%

Participant deferral / active EE

$828

$1,170-29.2%

$1,923-56.9%

$5,209-84.1%

Admin fee / account holder

$112

$109+2.9%

$2,520-95.6%

$114-1.9%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND6 years

Filed as: PRUDENTIAL RET. INSURANCE & ANN. CO

Service code 13 · EIN 06-1050034

Contract Administrator

$252,959

ASSOCIATED ADMINISTRATORS, LLC6 years

Filed as: ASSOCIATED ADMINISTRATORS LLC

Service code 13 · EIN 65-1205077

Contract Administrator

$156,626

BREDHOFF & KAISER9+ years

Service code 29 · EIN 52-0969534

Legal

$32,243

NOVAK FRANCELLA LLC9+ years

Filed as: NOVAK FRANCELLA, LLC

Service code 10 · EIN 61-1436956

Accounting

$11,914

SEYFARTH SHAW LLP9+ years

Filed as: SEYFARTH SHAW

Service code 29 · EIN 36-2152202

Legal

$8,140

MEKETA INVESTMENT GROUP9+ 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