Retirement plan

PROFESSIONAL HOSPITALITY RESOURCES 401(K) PLAN

Name: PROFESSIONAL HOSPITALITY RESOURCES, INC. - PROFESSIONAL HOSPITALITY RESOURCES 401(K) PLAN (2017) Form 5500
Creator: PROFESSIONAL HOSPITALITY RESOURCES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PROFESSIONAL HOSPITALITY RESOURCES 401(K) PLAN, PROFESSIONAL HOSPITALITY RESOURCES, INC.

PROFESSIONAL HOSPITALITY RESOURCES, INC.EIN 54-1359656Plan #001PY 2017

300 32ND STREET, SUITE 500 - VIRGINIA BEACH, VA 23451757-491-3000turtlecayresort.comLinkedIn501-1000 employeeshospitality

Prospect flagsLow assets / participantFailed to transmit contributionsFailed to provide benefit

Top hat statement on fileNQDC

Filed January 13, 2017

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$20.2M

+14.9% from 2016

Total participants

1,713

+159.2% from 2016

Average account balance

$14,513

-52.7% from 2016

Annual return

16.05%

+10.67 pp from 2016

Benchmarks

See 114 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants1,000-4,999

Cohort114 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$28.77M

Not enough data

1 years with asset history on file

Average account balance

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

$26K

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.

1,094

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.

50.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.59M

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

+13.99%

Not enough data

1 years with return on file

Admin fee / account holder

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

$57

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

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
BDO USA, LLP1 year Filed as: BDO USA, LLP - VA Service code 13 · EIN 13-5381590 150 BOUSH ST, SUITE 1100 · NORFOLK, VA 23510	Contract Administrator	$34,520
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Filed as: MASSACHUSETTS MUTUAL LIFE INS CO Service code 52 · EIN 04-1590850	Indirect Investment Fees	$23,288
MCPHILLIPS, ROBERTS & DEANS, PLC3+ years Service code 50 · EIN 54-1921942 150 BOUSH ST, SUITE 1100 · NORFOLK, VA 23510	Direct Payment	$8,340

Plan features & details

Pension benefit codes2A2E2F2G2J2K2S2T3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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 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).
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.

Expense breakdown

Schedule H Part II

Admin total

$66K

$56 / participant

Contract admin$23K34.7%
Other / not subdivided$43K65.3%

% of EOY assets

0.328%

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: DIXON HUGHES GOODMAN, LLP
Auditor EIN: 560747981
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,513

$43,233-66.4%

$185,117-92.2%

$77,958-81.4%

Participation rate

72.9%

64.2%+8.6pp

77.3%-4.4pp

71.6%+1.2pp

Annual return

16.05%

20.43%-4.4pp

40.50%-24.5pp

20.87%-4.8pp

Employer contribution / active EE

$393

$1,312-70.0%

$4,182-90.6%

$2,310-83.0%

Participant deferral / active EE

$1,228

$2,912-57.9%

$5,045-75.7%

$3,537-65.3%

Admin fee / account holder

$48

$95-50.0%

$8,159-99.4%

$97-51.2%

Provider

Service type

Compensation

BDO USA, LLP1 year

Filed as: BDO USA, LLP - VA

Service code 13 · EIN 13-5381590

150 BOUSH ST, SUITE 1100 · NORFOLK, VA 23510

Contract Administrator

$34,520

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Filed as: MASSACHUSETTS MUTUAL LIFE INS CO

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$23,288

MCPHILLIPS, ROBERTS & DEANS, PLC3+ years

Service code 50 · EIN 54-1921942

150 BOUSH ST, SUITE 1100 · NORFOLK, VA 23510

Direct Payment

$8,340

PROFESSIONAL HOSPITALITY RESOURCES 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PROFESSIONAL HOSPITALITY RESOURCES 401(K) PLAN

Top hat statement on fileNQDC

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