Benchmarking Hospitality Industry 401k Plan in Sparks, MD against all plans
Hospitality Industry 401k Plan in Sparks, MD has the highest average account balance ($36,393) of all the 24 plans that are multiemployer and have 1,000 to 4,999 total participants. That $36,393 compares to an average of $14,153 across those 24 plans.
Beating the average of $14,153 means an extra $28,377,814 in total assets.
But it's still under the median of $74,923 and average of $84,934 across all 509 plans that, like it, are in Maryland.
Note: average account balance = total assets รท total participants
Hospitality Industry 401k Plan has these standings among those 24 peer plans:
Beating the average of $14,153 means an extra $28,377,814 in total assets.
But it's still under the median of $74,923 and average of $84,934 across all 509 plans that, like it, are in Maryland.
Note: average account balance = total assets รท total participants
Hospitality Industry 401k Plan has these standings among those 24 peer plans:
- average account balance = $36,393 (the highest)
- total assets = $46,437,385 (3rd-most)
- total participants = 1,276 (3rd-fewest)
Visualize
Peers
beat KS International LLC 401(K) Plan in Reston, VA ($29,193), IBEW Local Union 306 401 (K) Wage Reduction Retirement Fund in Canfield, OH ($23,629), UFCW Members, Local Unions, and Multi-Employer 401(K) Plan in Madison Heights, MI ($23,430), and Neca - IBEW Local Union No. 584 Profit Sharing Plan in Richardson, TX ($21,345), and 19 others, ending with Recycling and General Industrial Union Local 108 Annuity Fund in New York, NY ($4,151).
References
- average account balance. Higher values are better. Average account balance equals total assets, in Line 1f(b) from Schedule H, divided by total participants, in Line 6f of Form 5500. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
- total participants bracket. We partitioned total participants into eight brackets: 0-9, 10-24, 25-49, 50-99, 100-499, 500-999, 1000-4999, 5000-24999, and 25000 or more. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
- are plan type. A plan is a multiemployer plan if: (a) more than one employer is required to contribute, (b) the plan is maintained pursuant to one or more collective bargaining agreements between one or more employee organizations and more than one employer; (c) an election under Code section 414(f)(5) and ERISA section 3(37)(E) has not been made; and (d) the plan meets any other applicable conditions of 29 CFR 2510.3-37. A single-employer plan for this Form 5500 reporting purpose is an employee benefit plan maintained by one employer or one employee organization. A multiple-employer plan is a plan that is maintained by more than one employer and is not one of the plans already described. Except where noted, all data come from the 25-October-2023 updates to the year-2021 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.