Smgha Nevada, LLC 401(k) Review & Grade
Palms 401(k) Savings Plan
Las Vegas, NVAccommodation & Food Services2,023 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$580Employer $ per active participant
$1,131Employee $ saved per active participant
0.39%Direct admin cost, % of plan assets
$10.1MNet plan assets, end of year
$7,675Average balance per account
Score breakdown
- Employer generosity37.5 / 5075th percentile for employer $ per participant
- Low cost7.8 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving10.0 / 1567th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 75th |
| Lower admin cost | 31th |
| Employee saving | 67th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Smgha Nevada put in about $580 per active participant, more than the typical peer ($266). 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 (0.39% of assets) are well above similar-size plans (0.23%). 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 | $1,173,604 |
| Participant (employee) contributions | $2,287,033 |
| Other contributions (incl. rollovers in) | $479,579 |
| Administrative expenses paid from the plan | $31,917 |
| Benefits paid out | $957,326 |
| Net assets, start / end of year | $6.2M / $10.1M |
| Active participants, start / end of year | 1,973 / 2,073 |
| Participants with account balances | 1,314 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Miller Kaplan Arase LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $31,917 reported compensation |
| National Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007152312NAL0002573811001, received 2025-10-07, EIN 87-1815815, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.