PALMS ASSOCIATES, LLC 401(K)/PROFIT SHARING PLAN

At the end of 2022, the total retirement plan assets of PALMS ASSOCIATES, LLC 401(K)/PROFIT SHARING PLAN is $22,959,169.This plan was established in 2009.

At the end of 2022, the total number of retirement plan participants in PALMS ASSOCIATES, LLC 401(K)/PROFIT SHARING PLAN is 207

In 2022, the average participant retirement account value for PALMS ASSOCIATES, LLC 401(K)/PROFIT SHARING PLAN is $110,913

In 2022, the estimated average employee contribution amount per participant for PALMS ASSOCIATES, LLC 401(K)/PROFIT SHARING PLAN is $2,857

In 2022, the estimated average employer match for an employee in PALMS ASSOCIATES, LLC 401(K)/PROFIT SHARING PLAN is approximately $5,301

In 2022, PALMS ASSOCIATES, LLC 401(K)/PROFIT SHARING PLAN allocates $1,097,387 to match its employees’ contributions, providing an employer match rate of 171.43% of their contributions

In 2022, the total retirement plan asset growth rate of PALMS ASSOCIATES, LLC 401(K)/PROFIT SHARING PLAN is -21.04%

In 2022, the estimated aggregate retirement account investment gain/loss for PALMS ASSOCIATES, LLC 401(K)/PROFIT SHARING PLAN is -15.85%. This measures the effectiveness of the plan participants’ investments in the year.

In 2022, the investment and administrative expense ratio of PALMS ASSOCIATES, LLC 401(K)/PROFIT SHARING PLAN is 0.04%.

Enrollment Features

PALMS ASSOCIATES, LLC 401(K)/PROFIT SHARING PLAN has the following features:
    Automatic Enrollment: It provides automatic enrollment with elective contributions deducted from payroll.
    Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.