Lotte New York Palace, Llc. 401(k) Plan: Login, Facts & Contact Information

Lotte New York Palace, Llc. 401(k) Plan Facts

Plan name
LOTTE HOTEL HOLDINGS USA 401(K) RETIREMENT PLAN
Plan type
401(k) with employer contributions and profit sharing
Plan sponsor
LOTTE NEW YORK PALACE, LLC.
Participants
257 (180 active employees)
Former employees with a balance
99
Plan assets
$12,347,322 at Dec 31, 2023
Average account balance
$46,419 across 266 accounts
Employer contributions
$536,267 in plan year 2023 (33% of all contributions)
Recordkeeper
Adp, Inc.
Plan year
Jan 1, 2023 – Dec 31, 2023
Plan established
May 1, 2010
✓ Employer contributions✓ Automatic enrollment✓ Default investment for undecided participants✓ Participants choose their own investments— Self-directed brokerage window✓ Profit sharing— Company stock (ESOP)

Source: Form 5500 for plan year 2023 (Jan 1, 2023 – Dec 31, 2023), filed Oct 13, 2024. Public filing with the U.S. Department of Labor.

Money in and out in plan year 2023

  • $1.62 million went into the plan in contributions, $536,267 of it from the employer (33%).
  • $1.03 million was paid out to participants.
  • Investment and other income added $1.84 million.
  • Administrative expenses were $63,113, about $237 per account.

How the Lotte New York Palace, Llc. 401(k) changed, 2018–2023

Plan yearParticipantsPlan assetsEmployer contributionsBenefits paid
2018177$7.40 million$378,733$651,547
2019183$9.70 million$423,052$536,281
2020186$10.9 million$307,887$1.17 million
2021245$12.1 million$430,626$1.48 million
2022300$9.99 million$433,837$1.39 million
2023257$12.3 million$536,267$1.03 million

Lotte New York Palace, Llc. 401(k) Contact Information

Phone
646-771-1584
Mailing address
455 MADISON AVENUE, NEW YORK NY 10022
Plan sponsor
LOTTE NEW YORK PALACE, LLC.
Employer identification number (EIN)
32-0471230
Plan number
001

Questions about the Lotte New York Palace, Llc. 401(k)

Does Lotte New York Palace, Llc contribute to the 401(k)?

Yes. The plan reports an employer contribution arrangement. In plan year 2023 the employer contributed $536,267, 33% of all contributions.

Does the Lotte New York Palace, Llc 401(k) have automatic enrollment?

Yes. The plan reports automatic enrollment of eligible employees.

How many people are in the Lotte New York Palace, Llc 401(k) plan?

257 participants at the start of plan year 2023, 180 of them active employees, and 99 former employees who still had money in the plan.

What is the average 401(k) balance at Lotte New York Palace, Llc?

About $46,419 per account: $12.3 million in plan assets across 266 accounts with a balance at the end of plan year 2023.

Who manages the Lotte New York Palace, Llc 401(k) accounts?

ADP Retirement Services (listed on the filing as ADP, INC.) is the plan's recordkeeper, which is where participants log in to see their balance.

I no longer work at Lotte New York Palace, Llc. How do I access my 401(k)?

Your account stays with ADP Retirement Services after you leave, so you can log in with the same credentials. If your balance was small, the plan may have rolled it into an IRA in your name. If you can't find it, Beagle can locate it for you.

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