What are the fees in the Jt. Bd. of Trustees of the Unite Here! Local 54 Money purchase plan plan?

For plan year 2023, Jt. Bd. of Trustees of the Unite Here! Local 54 reported $637,697 in plan administrative expenses, or 1.57% of average plan assets — higher than ~90% of peers. Fund-level expense ratios are not included in public filings.

How much does Jt. Bd. of Trustees of the Unite Here! Local 54 contribute to its Money purchase plan?

In 2023, employer contributions to the Jt. Bd. of Trustees of the Unite Here! Local 54 plan averaged $145 per active participant, below the $2,440 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Jt. Bd. of Trustees of the Unite Here! Local 54 401(k)?

The average participant account balance was $4,134 for plan year 2023, based on 9,874 accounts.

Jt. Bd. of Trustees of the Unite Here! Local 54Money purchase plan

Name: Jt. Bd. of Trustees of the Unite Here! Local 54 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

UNITE HERE! LOCAL 54 SEVERANCE FUND · MOUNT LAUREL, NJ · plan year 2023

Reported admin expense ratio · 2023

1.57%

Peer grade: D · admin costs + employer contributions vs same-size plans · how grading works

Jt. Bd. of Trustees of the Unite Here! Local 54 reported $637,697 in plan administrative expenses for 2023: 1.57% of average plan assets, higher than ~90% of peers. Employer contributions averaged $145 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.

Across the 2 years on file its reported administrative ratio rose from 1.55% to 1.71%. The plan sits in the $10M–$50M size bracket, benchmarked here against 26,779 comparable plans and shown alongside other accommodation & food services employers. By assets it is the 657th-largest of 2,419 plans among New Jersey employers on file, and the 163rd of 2,240 in accommodation & food services.

Plan summary
Net assets, end of year$40,819,079
Participants with balances9,874
Active participants6,047
Employer contributions$878,623
Employee contributions—
Employer contribution per active participant$145
Average account balance$4,134
Benefits paid to participants$2,441,393
Plan auditUnmodified (clean) audit opinion
AuditorNOVAK FRANCELLA, LLC

Plan history3

Yearassets · accounts · employer contribution

2024$40.6M · 9,882 accts · $828K emplr

2023$40.8M · 9,874 accts · $879K emplr

2022$40.5M · 9,282 accts · $710K emplr

Administrative expenses, itemized · 2023
Recordkeeping & contract admin$293,837
Investment management$197,420
Audit (IQPA)$20,000
Trustee / custodial$13,795
Total administrative$637,697

Employer contributions to the Jt. Bd. of Trustees of the Unite Here! Local 54 plan · 2023

Employer contribution per active participant$145

Median for plans this size$2,440

2024$120 per active participant

2023$145 per active participant

2022$124 per active participant

Jt. Bd. of Trustees of the Unite Here! Local 54's 2023 employer contribution ran below the $2,440 median for plans its size, in the bottom quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

What these fees cost you

Your balance

Annual cost at the plan's reported 2023 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Service providers · 202311
FRANK M. VACCARO & ASSOCIATES · Contract administrator$263,616
INVESTMENT PEFORMANCE SERVICES · Investment advisory (plan)$60,000
NOVAK FRANCELLA LLC · Accounting / audit$50,221
CHEVY CHASE TRUST COMPANY · Investment management$38,464
HARDMAN JOHNSTON GLOBAL ADVISORS · Investment management$36,264
CLEARY,JOSEM & TRIGIANI LLP · Legal$32,301
LAW OFFICES OF BRIAN SULLIVAN · Legal$30,000
WASHINGTON CAPITAL MANAGEMENT, INC. · Investment management$22,989
SIERRA INVESTMENT PARTNERS INC · Investment management$22,314
SEGALL BRYANT & HAMILL · Investment management$17,390
BANK OF AMERICA, NA · Custodial (securities)$13,795
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Administrative cost history3

2024$696,415 · 1.71%

2023$637,697 · 1.57%

2022$688,374 · 1.55%

Similar plansAccommodation & Food Services · New Jersey
Avis Budget Group, Inc. NJ$718.2M · 0.09%
Wyndham Hotels & Resorts, Inc. NJ$345.1M · 0.07%
The Doherty Group, Inc. NJ$40.6M · 0.33%
Boardwalk 1000, LLC NJ$26.6M · 0.28%
Cncm, LLC NJ$12.5M · 0.75%
Briad Wenco, LLC NJ$12.3M · 0.95%

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Source: U.S. Department of Labor, Form 5500 series, EIN 222431399 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.