Retirement plan

SYNCREON EMPLOYEES 401(K) PLAN

Name: SYNCREON ACQUISITION CORP., INC. - SYNCREON EMPLOYEES 401(K) PLAN (2022) Form 5500
Creator: SYNCREON ACQUISITION CORP., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SYNCREON EMPLOYEES 401(K) PLAN, SYNCREON ACQUISITION CORP., INC.

SYNCREON ACQUISITION CORP., INC.EIN 64-0962082Plan #001PY 2022

2851 HIGH MEADOW CIRCLE, SUITE 250 - AUBURN HILLS, MI 48326248-377-4700

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$62.7M

-13.9% from 2021

Total participants

1,919

+0.1% from 2021

Average account balance

$32,661

-13.9% from 2021

Annual return

-16.84%

-34.95 pp from 2021

Benchmarks

See 7,786 peers

Peer group

Industryany (size+type match)

Plan typeDefined contribution

Participants1,000-4,999

Cohort7,786 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$80.38M

Not enough data

1 years with asset history on file

Average account balance

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

$45K

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.

1,769

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.

41.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.88M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+14.03%

Not enough data

1 years with return on file

Admin fee / account holder

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

$97

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

1 years with F_SCH_H allocation on file

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND4 years Service code 13 · EIN 06-1050034	Contract Administrator	$153,290
GALLAGHER FIDUCIARY ADVISORS, LLC4 years Filed as: GALLAGHER BENEFIT SERVICES, INC. Service code 10 · EIN 36-4291971	Accounting	$27,500
PLANTE & MORAN, PLLC1 year Filed as: PLANTE MORAN PLLC Service code 10 · EIN 38-1357951	Accounting	$6,750

Plan features & details

Pension benefit codes2E2J2F2G2K3D3H2T

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$198K

$140 / participant

Contract admin$153K77.5%
Other / not subdivided$44K22.5%

% of EOY assets

0.316%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: PLANTE MORAN,PLLC
Auditor EIN: 381357951
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,661

$77,906-58.1%

$71,755-54.5%

$77,906-58.1%

Participation rate

100.0%

73.7%+26.3pp

62.3%+37.7pp

73.7%+26.3pp

Annual return

-16.84%

12.16%-29.0pp

9.09%-25.9pp

12.16%-29.0pp

Employer contribution / active EE

$1,888

$2,846-33.7%

$1,704+10.8%

$2,846-33.7%

Participant deferral / active EE

$4,150

$4,805-13.6%

$2,656+56.3%

$4,805-13.6%

Admin fee / account holder

$103

$133-22.3%

$3,972-97.4%

$133-22.3%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND4 years

Service code 13 · EIN 06-1050034

Contract Administrator

$153,290

GALLAGHER FIDUCIARY ADVISORS, LLC4 years

Filed as: GALLAGHER BENEFIT SERVICES, INC.

Service code 10 · EIN 36-4291971

Accounting

$27,500

PLANTE & MORAN, PLLC1 year

Filed as: PLANTE MORAN PLLC

Service code 10 · EIN 38-1357951

Accounting

$6,750

SYNCREON EMPLOYEES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SYNCREON EMPLOYEES 401(K) 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