Retirement plan

SYNERGY ENTERPRISES, INC. 401(K) EMPLOYEE STOCK OWNERSHIP PLAN

Name: SYNERGY ENTERPRISES, INC. - SYNERGY ENTERPRISES, INC. 401(K) EMPLOYEE STOCK OWNERSHIP PLAN (2024) Form 5500
Creator: SYNERGY ENTERPRISES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SYNERGY ENTERPRISES, INC. 401(K) EMPLOYEE STOCK OWNERSHIP PLAN, SYNERGY ENTERPRISES, INC.

SYNERGY ENTERPRISES, INC.EIN 75-0974624Plan #002PY 2024

PO BOX 815069 - FARMERS BRANCH, TX 75381972-490-7000

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$19.4M

+15.9% from 2023

Total participants

128

+7.6% from 2023

Average account balance

$163,303

+14.9% from 2023

Annual return

13.27%

+7.63 pp from 2023

Benchmarks

See 8,993 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort8,993 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.43M

Not enough data

1 years with asset history on file

Average account balance

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

$163K

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.

119

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.

88.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.50M

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

+13.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$592

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 4 by compensation

Provider	Service type	Compensation
MY GROUP LLC1 year Filed as: HM&M GROUP, LLC Service code 10 · EIN 75-2409112 5005 LYNDON B JOHNSON FREEWAY · DALLAS, TX 75244	Accounting	$25,040
FIDELITY INVESTMENTS INSTITUTIONAL5 years Filed as: FIDELITY FINANCIAL Service code 27 900 SALEM STREET · SMITHFIELD, RI 02917	Advisory (Plan)	$20,756
PENSION ASSURANCE LLP1 year Filed as: PENSION PLANNING CONSULTANTS, INC. Service code 12 · EIN 85-0402842 6201 UPTOWN BLVD, SUITE 100 · ALBUQUERQUE, NM 87110	Participant loan processing; Claims p...	$15,162
GEORGE JOHNSON & COMPANY3 years Filed as: GEORGE VALUATION ADVISORS Service code 34 15150 PRESTON ROAD, SUITE · DALLAS, TX 75248	Valuation (appraisals, etc.)	$9,431

Plan features & details

Pension benefit codes2E2I2K2O3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2I
Stock bonus
Stock bonus plan.
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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$70K

$869 / participant

Investment mgmt$21K29.5%
Contract admin$25K34.9%
Other / not subdivided$25K35.6%

% of EOY assets

0.362%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: HM&M GROUP, LLC
Auditor EIN: 752409112
Audit fees: $25,040
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$163,303

$101,795+60.4%

$165,100-1.1%

$80,959+101.7%

Participation rate

88.9%

71.8%+17.1pp

78.6%+10.3pp

67.7%+21.2pp

Annual return

13.27%

16.73%-3.5pp

70.21%-56.9pp

35.67%-22.4pp

Employer contribution / active EE

$12,554

$2,954+325.0%

$4,348+188.7%

$2,757+355.3%

Participant deferral / active EE

$5,915

$4,476+32.2%

$6,035-2.0%

$4,300+37.6%

Admin fee / account holder

$592

$8,221-92.8%

$12,696-95.3%

$6,925-91.5%

Provider

Service type

Compensation

MY GROUP LLC1 year

Filed as: HM&M GROUP, LLC

Service code 10 · EIN 75-2409112

5005 LYNDON B JOHNSON FREEWAY · DALLAS, TX 75244

Accounting

$25,040

FIDELITY INVESTMENTS INSTITUTIONAL5 years

Filed as: FIDELITY FINANCIAL

Service code 27

900 SALEM STREET · SMITHFIELD, RI 02917

Advisory (Plan)

$20,756

PENSION ASSURANCE LLP1 year

Filed as: PENSION PLANNING CONSULTANTS, INC.

Service code 12 · EIN 85-0402842

6201 UPTOWN BLVD, SUITE 100 · ALBUQUERQUE, NM 87110

Participant loan processing; Claims p...

$15,162

GEORGE JOHNSON & COMPANY3 years

Filed as: GEORGE VALUATION ADVISORS

Service code 34

15150 PRESTON ROAD, SUITE · DALLAS, TX 75248

Valuation (appraisals, etc.)

$9,431

SYNERGY ENTERPRISES, INC. 401(K) EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SYNERGY ENTERPRISES, INC. 401(K) EMPLOYEE STOCK OWNERSHIP 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