Merritt Hospitality LLC 401(k) Review & Grade
Hei Hotels and Resorts 401(k) Plan
Norwalk, CTAccommodation & Food Services10,303 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$808Employer $ per active participant
$1,736Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$198.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity38.8 / 5078th percentile for employer $ per participant
- Low cost2.6 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score46 / 100 · Grade C
This plan vs. peers
Peers: Accommodation & Food Services plans with 10,000+ active participants (41 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 78th |
| Lower admin cost | 11th |
| Employee saving | 75th |
| Peers that auto-enroll | 24% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($4,294,839 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Merritt Hospitality put in about $808 per active participant, more than the typical peer ($393). 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 (0.28% of assets) are well above similar-size plans (0.09%). 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $8,321,009 |
| Participant (employee) contributions | $17,881,193 |
| Other contributions (incl. rollovers in) | $5,391,685 |
| Administrative expenses paid from the plan | $515,822 |
| Investment advisory & management fees | $55,000 |
| Benefits paid out | $20,347,029 |
| Net assets, start / end of year | $165.5M / $198.2M |
| Active participants, start / end of year | 10,540 / 10,066 |
| Participants with account balances | 4,655 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cohnreznick LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $419,872 reported compensation |
| Mayflower Financial Advisors LLC | $55,000 reported compensation |
| Cohnreznick LLP | $40,950 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010162508NAL0004788211001, received 2025-10-10, EIN 52-2353526, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.