Plan Snapshot
- Plan Sponsor: Driftwood Hospitality Management, LLC
- Sponsor EIN: 651006992
- Sponsor Address: 11770 US HWY 1 SUITE 202, NORTH PALM BEACH, FL, 33408
- Plan Type: 401(k)
- Total Participants: 3,193
- Total Assets: $32.9M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 3,193 | $32.9M | $914,359 | $3.1M |
| 2023 | 3,094 | $28.4M | $788,805 | $2.7M |
| 2022 | 2,559 | $22.3M | $628,792 | $2.2M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY O | RECORDKEEPER | $102,146 | — | $102,146 |
| MERRILL LYNCH PIERCE FENNER & SMITH | INVESTMENT ADVISOR | $57,398 | — | $57,398 |
| EMPOWER ADVISORY GROUP, LLC | INVESTMENT MGMT | $23,108 | — | $23,108 |
| ASSURANCE DIMENSIONS | AUDITOR | $8,500 | — | $8,500 |
| ASSURANCE DIMENSIONS, INC. | Auditor | $8,500 | — | $8,500 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ASSURANCE DIMENSIONS, INC. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $199,652
- Estimated Expense Ratio: 0.608% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $175,723 | $65,077 | — | $8,500 | — |
| 2023 | $153,683 | $62,201 | — | $8,500 | — |
| 2022 | $174,556 | — | $174,556 | — | — |