# The Palms Hotel & Spa, INC. 401(k) Plan
Source: https://planprovider.pro/companies/the-palms-hotel-spa-inc-401k-plan

> The Palms Hotel & Spa, INC.'s 401(k) plan: 227 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/gerstle-rosen-and-goldenberg-pa) — 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|—|—|—|—|

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