Retirement plan

CHELSEA HOTEL F&B LLC 401(K) PLAN

Name: CHELSEA HOTEL F&B LLC - CHELSEA HOTEL F&B LLC 401(K) PLAN (2024) Form 5500
Creator: CHELSEA HOTEL F&B LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHELSEA HOTEL F&B LLC 401(K) PLAN, CHELSEA HOTEL F&B LLC

CHELSEA HOTEL F&B LLCEIN 82-4798123Plan #001PY 2024

222 WEST 23RD STREET - NEW YORK, NY 10011212-483-1010

Prospect flagsLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$522K

+92.4% from 2023

Total participants

198

-40.9% from 2023

Average account balance

$2,638

+92.4% from 2023

Annual return

10.94%

-18.61 pp from 2023

Benchmarks

See 1,430 peers

Peer group

Industry72 - Accommodation and Food Services

Plan typeDefined contribution

Participants100-249

Cohort1,430 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$522K

Not enough data

1 years with asset history on file

Average account balance

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

$3K

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.

198

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

$362K

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

+10.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$132

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 1 by compensation

Provider	Service type	Compensation
VESTWELL1 year Service code 13 · EIN 81-3062212 360 MADISON AVENUE, 15TH FLOOR · NEW YORK, NY 10017	Contract Administrator	$0

Plan features & details

Pension benefit codes2F2G2H2J2S2T3D

Plan features

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.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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.

Opportunity flags

2 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$26K

$132 / participant

Investment mgmt$2K7.4%
Contract admin$24K92.6%

% of EOY assets

5.014%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CURRAN & COMPANY, LLP
Auditor EIN: 950858589
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$2,638

$30,437-91.3%

$56,033-95.3%

$74,459-96.5%

Participation rate

100.0%

32.9%+67.1pp

52.5%+47.5pp

67.2%+32.8pp

Annual return

10.94%

24.96%-14.0pp

1711.38%-1700.4pp

1369.70%-1358.8pp

Employer contribution / active EE

$610-100.0%

$1,041-100.0%

$2,626-100.0%

Participant deferral / active EE

$1,826

$1,176+55.3%

$1,954-6.6%

$4,350-58.0%

Admin fee / account holder

$132

$2,363-94.4%

$2,827-95.3%

$1,945-93.2%

Provider

Service type

Compensation

VESTWELL1 year

Service code 13 · EIN 81-3062212

360 MADISON AVENUE, 15TH FLOOR · NEW YORK, NY 10017

Contract Administrator

CHELSEA HOTEL F&B LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHELSEA HOTEL F&B LLC 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