Palace Sports & Entertainment, LLC 401(k) Review & Grade
Palace Employees 401(k) Savings Plan
Detroit, MIArts, Entertainment & Recreation796 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,072Employer $ per active participant
$2,292Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$34.7MNet plan assets, end of year
$70,129Average balance per account
Score breakdown
- Employer generosity25.9 / 5052th percentile for employer $ per participant
- Low cost21.6 / 2586th percentile for low admin cost vs. same-size plans
- Employee saving7.5 / 1550th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score58 / 100 · Grade C
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 52th |
| Lower admin cost | 86th |
| Employee saving | 50th |
| Peers that auto-enroll | 38% |
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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
- Palace Sports & Entertainment put in about $1,072 per active participant, more than the typical peer ($995). 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.
- 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.
- 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 | $853,609 |
| Participant (employee) contributions | $1,824,629 |
| Other contributions (incl. rollovers in) | $327,809 |
| Administrative expenses paid from the plan | $17,703 |
| Investment advisory & management fees | $10,332 |
| Benefits paid out | $5,254,564 |
| Net assets, start / end of year | $32.5M / $34.7M |
| Active participants, start / end of year | 519 / 1,073 |
| Participants with account balances | 495 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Plante & Moranpllc |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $10,336 reported compensation |
| Fidelity Investments Institutional | $7,371 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929122245NAL0017842690001, received 2025-09-29, EIN 38-2670394, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.