Gaughan South LLC DBA South Point Hotel and Casino 401(k) Review & Grade
South Point Hotel and Casino 401(k) Plan
Las Vegas, NVAccommodation & Food Services3,050 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,459Employer $ per active participant
$3,669Employee $ saved per active participant
0.22%Direct admin cost, % of plan assets
$131.4MNet plan assets, end of year
$39,716Average balance per account
Score breakdown
- Employer generosity47.6 / 5095th percentile for employer $ per participant
- Low cost7.8 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving14.4 / 1596th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Accommodation & Food Services plans with 2,500–9,999 active participants (104 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 31th |
| Employee saving | 96th |
| Peers that auto-enroll | 15% |
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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
- Gaughan South LLC DBA South Point Hotel and Casino put in about $1,459 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 (0.22% 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 | $4,450,665 |
| Participant (employee) contributions | $11,188,849 |
| Other contributions (incl. rollovers in) | $323,636 |
| Administrative expenses paid from the plan | $267,544 |
| Other admin expenses | $267,544 |
| Benefits paid out | $9,789,241 |
| Net assets, start / end of year | $111.3M / $131.4M |
| Active participants, start / end of year | 2,940 / 3,159 |
| Participants with account balances | 3,308 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Conway , Stuart, & Woodbury |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $293,344 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250822174243NAL0005525281001, received 2025-08-22, EIN 35-2275044, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.