The Biltmore Hotel Limited Partnership 401(k) Review & Grade
Seaway Hotels 401k · d/b/a The Biltmore Hotel
Coral Gables, FLAccommodation & Food Services1,156 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$102Employer $ per active participant
$668Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$18.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity12.4 / 5025th percentile for employer $ per participant
- Low cost24.3 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving6.2 / 1541th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 25th |
| Lower admin cost | 97th |
| Employee saving | 41th |
| Peers that auto-enroll | 17% |
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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 ($38,901 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $7,673 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Biltmore Hotel Limited Partnership put in about $102 per active participant, below the typical peer ($266). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $117,877 |
| Participant (employee) contributions | $772,170 |
| Other contributions (incl. rollovers in) | $27,746 |
| Administrative expenses paid from the plan | $2,066 |
| Contract administrator fees | $2,066 |
| Benefits paid out | $1,074,638 |
| Net assets, start / end of year | $16.3M / $18.6M |
| Active participants, start / end of year | 1,127 / 1,185 |
| Participants with account balances | 260 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
Largest service providers (Schedule C)
| American United Life Insurance Co | $121,129 reported compensation |
| Sageview Advisory Group | $34,994 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010120215NAL0013052096001, received 2025-10-10, EIN 65-0350171, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.