Prime Group Holdings, LLC 401(k) Review & Grade
Prime Group Holdings, LLC Retirement Trust
Saratoga Springs, NYAccommodation & Food Services607 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,218Employer $ per active participant
$2,306Employee $ saved per active participant
0.84%Direct admin cost, % of plan assets
$9.9MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity44.5 / 5089th percentile for employer $ per participant
- Low cost2.3 / 259th percentile for low admin cost vs. same-size plans
- Employee saving13.1 / 1588th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 89th |
| Lower admin cost | 9th |
| Employee saving | 88th |
| Peers that auto-enroll | 17% |
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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
- Prime Group Holdings put in about $1,218 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 (0.84% 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.
- 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 | $739,380 |
| Participant (employee) contributions | $1,399,788 |
| Other contributions (incl. rollovers in) | $357,781 |
| Administrative expenses paid from the plan | $70,548 |
| Investment advisory & management fees | $45,786 |
| Benefits paid out | $544,700 |
| Net assets, start / end of year | $6.9M / $9.9M |
| Active participants, start / end of year | 610 / 604 |
| Participants with account balances | 235 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Dejoy & Co. Cpas, LLP |
Largest service providers (Schedule C)
| Tompkins Financial Advisors | $34,844 reported compensation |
| Epic Retirement Plan Services | $24,762 reported compensation |
| Iron Fiduciary | $9,075 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929084706NAL0004920611001, received 2025-09-29, EIN 46-3002962, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.