Retirement plan

SYSNET TECHNOLOGIES 401(K) RETIREMENT PLAN

Name: SYSNET TECHNOLOGIES, INC. - SYSNET TECHNOLOGIES 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: SYSNET TECHNOLOGIES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SYSNET TECHNOLOGIES 401(K) RETIREMENT PLAN, SYSNET TECHNOLOGIES, INC.

SYSNET TECHNOLOGIES, INC.EIN 52-2206780Plan #001PY 2023

10461 WHITE GRANITE DRIVE SUITE 104 - OAKTON, VA 22124703-273-7806sysnettech.comLinkedIn11-50 employeesinformation technology and services

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$16M

+7.5% from 2022

Total participants

+4.8% from 2022

Average account balance

$286,560

-0.1% from 2022

Annual return

20.09%

+39.26 pp from 2022

Benchmarks

See 28,708 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants25-99

Cohort28,708 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$19.23M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$310K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

80.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.10M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+18.35%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$14728

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2J2T2E3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$3.0M

$51337 / participant

Other / not subdivided$3M100.0%

% of EOY assets

18.875%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$286,560

$93,598+206.2%

$135,974+110.7%

$75,173+281.2%

Participation rate

83.1%

75.2%+7.9pp

81.9%+1.1pp

67.2%+15.8pp

Annual return

20.09%

30.89%-10.8pp

68.30%-48.2pp

160.72%-140.6pp

Employer contribution / active EE

$10,523

$3,538+197.4%

$4,859+116.6%

$2,671+294.0%

Participant deferral / active EE

$8,914

$6,405+39.2%

$7,760+14.9%

$4,126+116.0%

Admin fee / account holder

$54,087

$6,978+675.1%

$10,767+402.4%

$5,651+857.2%

SYSNET TECHNOLOGIES 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SYSNET TECHNOLOGIES 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion