Plan Snapshot
- Plan Sponsor: Synergy Business Innovation And
- Sponsor EIN: 841698665
- Sponsor Address: 1902 CAMPUS COMMONS DRIVE, RESTON, VA, 20191
- Plan Type: 401(k)
- Total Participants: 498
- Total Assets: $37.7M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 498 | $37.7M | $2.8M | $5.0M |
| 2023 | 534 | $27.1M | $2.6M | $4.6M |
| 2022 | 507 | $16.4M | $1.8M | $3.0M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| EDWARD D. JONES & CO., L.P. | Other Service Provider | $46,807 | — | $46,807 |
| JOHN HANCOCK | Recordkeeper | $18,185 | — | $18,185 |
| WILSHIRE ASSOCIATES | Recordkeeper | $5,842 | — | $5,842 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- JOHN HANCOCK — Recordkeeper
- WILSHIRE ASSOCIATES — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $70,834
- Estimated Expense Ratio: 0.188% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $70,834 | $61,738 | $9,096 | — | — |
| 2023 | $52,814 | $46,617 | $6,197 | — | — |
| 2022 | $34,190 | $30,298 | $3,892 | — | — |