Plan Snapshot
- Plan Sponsor: Synovus Financial Corp.
- Sponsor EIN: 581134883
- Sponsor Address: P.O. BOX 120, COLUMBUS, GA, 31902
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 3,967
- Total Assets: $8.4M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 3,967 | $8.4M | $43.1M | $16.7M |
| 2023 | 4,074 | $10.8M | $39.9M | $16.5M |
| 2022 | 4,211 | $12.4M | $34.8M | $14.9M |
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 |
|---|---|---|---|---|
| IEC GROUP, INC. DBA AMERIBEN | Other Service Provider | $1,481,686 | — | $1,481,686 |
| BLUE CROSS BLUE SHIELD OF GEORGIA | Other Service Provider | $1,404,794 | — | $1,404,794 |
| WELLPOINT | Other Service Provider | $1,357,978 | — | $1,357,978 |
| RIGHT RX FL, LLC DBA US-RX CARE | Other Service Provider | $1,238,757 | — | $1,238,757 |
| ZELIS | Other Service Provider | $135,688 | — | $135,688 |
| TELADOC | Other Service Provider | $127,481 | — | $127,481 |
| MILLIMAN | Recordkeeper | $103,890 | — | $103,890 |
| ROBINSON, GRIMES & CO., P.C. | Other Service Provider | $40,500 | — | $40,500 |
| ALIGHT SOLUTIONS, LLC | Recordkeeper | $30,174 | — | $30,174 |
| CLAIMS-X-CHANGE SOLUTIONS | Other Service Provider | $12,100 | — | $12,100 |
| ERNST & YOUNG | Auditor | $8,868 | — | $8,868 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MILLIMAN — Recordkeeper
- ALIGHT SOLUTIONS, LLC — Recordkeeper
- ERNST & YOUNG — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $5,941,916
- Estimated Expense Ratio: 70.929% 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 | $6,122,315 | — | $5,610,696 | $40,500 | — |
| 2023 | $6,417,851 | — | $6,074,065 | $41,075 | — |
| 2022 | $5,334,490 | — | $5,172,784 | — | $79,497 |