Driftwood Hospitality Management, LLC 401(k) Review & Grade
Driftwood Hospitality Management, Inc. 401(k) Plan
North Palm Beach, FLAccommodation & Food Services3,211 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$285Employer $ per active participant
$961Employee $ saved per active participant
0.57%Direct admin cost, % of plan assets
$32.9MNet plan assets, end of year
$17,144Average balance per account
Score breakdown
- Employer generosity27.7 / 5055th percentile for employer $ per participant
- Low cost2.6 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving8.7 / 1558th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 2,500–9,999 active participants (104 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 55th |
| Lower admin cost | 10th |
| Employee saving | 58th |
| Peers that auto-enroll | 15% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $20,958 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Driftwood Hospitality Management put in about $285 per active participant, more than the typical peer ($244). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.57% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $914,359 |
| Participant (employee) contributions | $3,085,983 |
| Other contributions (incl. rollovers in) | $496,704 |
| Administrative expenses paid from the plan | $175,723 |
| Investment advisory & management fees | $65,077 |
| Benefits paid out | $3,536,305 |
| Net assets, start / end of year | $28.4M / $32.9M |
| Active participants, start / end of year | 3,229 / 3,193 |
| Participants with account balances | 1,917 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Assurance Dimensions, Inc. |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $102,146 reported compensation |
| Merrill Lynch Pierce Fenner & Smith | $57,398 reported compensation |
| Empower Advisory Group, LLC | $23,108 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014163423NAL0003417361001, received 2025-10-14, EIN 65-1006992, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.