# Professional Hospitality Resources, INC. 401(k) Plan
Source: https://planprovider.pro/companies/professional-hospitality-resources-inc-401k-plan

> Professional Hospitality Resources, INC.'s 401(k) plan: 1,138 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/bdo-usa-pc) — TPA

- [MML INVESTMENT SERVICES INC](https://planprovider.pro/provider/mml-investors-services-llc) — BROKER/ADVISOR

- [FORVIS MAZARS, LLP](https://planprovider.pro/provider/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|

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