Virgin Hotels North America, LLC 401(k) Review & Grade
Virgin Hotels 401(k) Plan
Coconut Grove, FLAccommodation & Food Services602 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$625Employer $ per active participant
$1,510Employee $ saved per active participant
1.29%Direct admin cost, % of plan assets
$4.7MNet plan assets, end of year
$11,379Average balance per account
Score breakdown
- Employer generosity38.9 / 5078th percentile for employer $ per participant
- Low cost0.9 / 254th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-18 pts3 issues reported on the filing
Total score43 / 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 | 78th |
| Lower admin cost | 4th |
| Employee saving | 76th |
| Peers that auto-enroll | 17% |
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
Late deposits: the filing says some employee contributions were not sent to the plan on time ($151,254 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Auditor disclaimer: the auditor issued a disclaimer of opinion.
Corrective distributions: the plan refunded $31,498 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Virgin Hotels North America put in about $625 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 (1.29% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $376,034 |
| Participant (employee) contributions | $908,481 |
| Other contributions (incl. rollovers in) | $149,868 |
| Administrative expenses paid from the plan | $52,497 |
| Contract administrator fees | $36,497 |
| Benefits paid out | $635,103 |
| Net assets, start / end of year | $3.5M / $4.7M |
| Active participants, start / end of year | 592 / 611 |
| Participants with account balances | 413 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Rosaline Mendoza, CPA, PA |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $21,297 reported compensation |
| Rosaline Mendoza CPA PA | $16,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015163925NAL0002647491001, received 2025-10-15, EIN 27-2839900, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.