Retirement plan

SYNERGY ENTERPRISES 401(K) EMPLOYEE STOCK OWNERSHIP PLAN

Name: SYNERGY ENTERPRISES, INC. - SYNERGY ENTERPRISES 401(K) EMPLOYEE STOCK OWNERSHIP PLAN (2022) Form 5500
Creator: SYNERGY ENTERPRISES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SYNERGY ENTERPRISES 401(K) EMPLOYEE STOCK OWNERSHIP PLAN, SYNERGY ENTERPRISES, INC.

SYNERGY ENTERPRISES, INC.EIN 75-0974624Plan #002PY 2022

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

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$14.8M

+13.0% from 2021

Total participants

121

-3.2% from 2021

Average account balance

$122,625

+16.7% from 2021

Annual return

8.28%

-29.97 pp from 2021

Benchmarks

See 9,164 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,164 peers

Snapshot2022

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
PENSION ASSURANCE LLP1 year Filed as: PENSION PLANNING CONSULTANTS Service code 12 · EIN 85-0402842 6201 UPTOWN BLVD, SUITE 100 · ALBUQUERQUE, NM 87110	Participant loan processing; Claims p...	$27,414
BDO USA, LLP8+ years Filed as: BDO USA, LLC Service code 10 · EIN 13-5381590 6050 SOUTHWEST BLVD, SUITE 300 · FT WORTH, TX 76109	Accounting	$12,500
GEORGE JOHNSON & COMPANY1 year Filed as: GEORGE VALUATION ADVISORS Service code 34 15150 PRESTON ROAD, SUITE 300 · DALLAS, TX 75248	Valuation (appraisals, etc.)	$9,221
FIDELITY INVESTMENTS INSTITUTIONAL3 years Filed as: FIDELITY FINANCIAL Service code 27 900 SALEM STREET · SMITHFIELD, RI 02917	Advisory (Plan)	$5,199

Plan features & details

Pension benefit codes2E2I2J2K2O3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2I
Stock bonus
Stock bonus plan.
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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$54K

$787 / participant

Investment mgmt$5K9.6%
Contract admin$49K90.4%

% of EOY assets

0.366%

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: HUSELTON MORGAN AND MAULTSBY PC
Auditor EIN: 752409112
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$122,625

$81,870+49.8%

$119,622+2.5%

$68,486+79.1%

Participation rate

100.0%

71.9%+28.1pp

79.3%+20.7pp

67.9%+32.1pp

Annual return

8.28%

-23.82%+32.1pp

-14.98%+23.3pp

-7.85%+16.1pp

Employer contribution / active EE

$13,216

$2,692+391.0%

$4,232+212.3%

$2,597+409.0%

Participant deferral / active EE

$6,114

$4,148+47.4%

$5,601+9.2%

$4,028+51.8%

Admin fee / account holder

$449

$6,583-93.2%

$10,328-95.7%

$5,404-91.7%

Provider

Service type

Compensation

PENSION ASSURANCE LLP1 year

Filed as: PENSION PLANNING CONSULTANTS

Service code 12 · EIN 85-0402842

6201 UPTOWN BLVD, SUITE 100 · ALBUQUERQUE, NM 87110

Participant loan processing; Claims p...

$27,414

BDO USA, LLP8+ years

Filed as: BDO USA, LLC

Service code 10 · EIN 13-5381590

6050 SOUTHWEST BLVD, SUITE 300 · FT WORTH, TX 76109

Accounting

$12,500

GEORGE JOHNSON & COMPANY1 year

Filed as: GEORGE VALUATION ADVISORS

Service code 34

15150 PRESTON ROAD, SUITE 300 · DALLAS, TX 75248

Valuation (appraisals, etc.)

$9,221

FIDELITY INVESTMENTS INSTITUTIONAL3 years

Filed as: FIDELITY FINANCIAL

Service code 27

900 SALEM STREET · SMITHFIELD, RI 02917

Advisory (Plan)

$5,199

SYNERGY ENTERPRISES 401(K) EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SYNERGY ENTERPRISES 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