# Palms Associates, LLC 401(k) Plan
Source: https://planprovider.pro/companies/palms-associates-llc-401k-plan

> Palms Associates, LLC's 401(k) plan: 145 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Palms Associates, LLC

- **Sponsor EIN:** 541311553

- **Sponsor Address:** 397 LITTLE NECK ROAD, VIRGINIA BEACH, VA, 23452

- **Plan Type:** 401(k)

- **Total Participants:** 145

- **Total Assets:** $30.9M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **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|145|$30.9M|$1.2M|$777,722|

| 2023|139|$26.8M|$1.1M|$693,170|

| 2022|143|$23.0M|$1.1M|$640,155|

## 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|

| THE VANGUARD GROUP, INC.|NONE|$13,014|—|$13,014|

| WALL, EINHORN & CHERNITZER|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [THE VANGUARD GROUP, INC.](https://planprovider.pro/provider/the-vanguard-group-inc) — NONE

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $13,014

- **Estimated Expense Ratio:** 0.042% 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|$12,568|—|—|—|—|

| 2023|$13,078|—|—|—|—|

| 2022|$9,349|—|—|—|—|

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