Plan Snapshot
- Plan Sponsor: Professional Hospitality Resources, INC.
- Sponsor EIN: 541359656
- Sponsor Address: 300 32ND STREET, VIRGINIA BEACH, VA, 23451
- Plan Type: 401(k)
- Total Participants: 1,138
- Total Assets: $28.8M
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 | 1,138 | $28.8M | $648,484 | $1.9M |
| 2023 | 1,045 | $26.5M | $591,204 | $1.9M |
| 2022 | 1,106 | $21.7M | $544,747 | $1.6M |
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 |
|---|---|---|---|---|
| BDO USA, PC | TPA | $21,695 | $12,700 | $34,395 |
| MML INVESTMENT SERVICES INC | BROKER/ADVISOR | — | $20,101 | $20,101 |
| FORVIS MAZARS, LLP | AUDITOR | $15,825 | — | $15,825 |
| EMPOWER ANNUITY INSURANCE COMPANY | RECORDKEEPER | $12,094 | — | $12,094 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BDO USA, PC — TPA
- MML INVESTMENT SERVICES INC — BROKER/ADVISOR
- FORVIS MAZARS, LLP — AUDITOR
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $82,415
- Estimated Expense Ratio: 0.286% 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 | $61,917 | — | $21,695 | $15,825 | — |
| 2023 | $42,977 | — | $18,500 | $14,588 | — |
| 2022 | $62,275 | — | $16,828 | — | $45,447 |