Plan Snapshot
- Plan Sponsor: The Palms Hotel & Spa, INC.
- Sponsor EIN: 650245113
- Sponsor Address: 3025 COLLINS AVE, MIAMI BEACH, FL, 33140
- Plan Type: 401(k)
- Total Participants: 227
- Total Assets: $6.6M
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 | 227 | $6.6M | $143,750 | $495,756 |
| 2023 | 189 | $6.0M | $142,039 | $447,435 |
| 2022 | 140 | $4.9M | $98,048 | $366,796 |
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 |
|---|---|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH | INVESTMENT ADVISOR | $16,619 | $1,401 | $18,020 |
| GERSTLE ROSEN & GOLDENBERG.P.A | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- GERSTLE ROSEN & GOLDENBERG.P.A — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $18,020
- Estimated Expense Ratio: 0.274% 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 | $21,525 | $16,620 | — | — | — |
| 2023 | $17,844 | $13,846 | — | — | — |
| 2022 | $18,925 | — | — | — | — |