Retirement plan

SYMPHONYAI 401(K) PLAN

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

SYMPHONYAI, LLCEIN 81-3667465Plan #001PY 2023

3300 HILLVIEW AVENUE - PALO ALTO, CA 94304650-868-7561symphonyai.comLinkedIn1001-5000 employeescomputer software

Prospect flagsRecently reached 100 employeesFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$55.4M

+3440.3% from 2022

Total participants

808

+1656.5% from 2022

Average account balance

$70,527

+84.9% from 2022

Annual return

3636.26%

+3661.52 pp from 2022

Benchmarks

See 3,234 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,234 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$72.47M

Not enough data

1 years with asset history on file

Average account balance

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

$91K

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.

799

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.

97.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$10.60M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$20K

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

+29.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$461

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
GLOBAL RETIREMENT PARTNERS LLC1 year Filed as: GLOBAL RETIREMENT PARTNERS. LLC Service code 27 4340 REDWOOD HWY - SUITE B60 · SAN RAFAEL, CA 94903	Advisory (Plan)	$85,467
THE ANGELL PENSION GROUP, INC.1 year Filed as: THE ANGELL PENSION GROUP, INC Service code 13 88 BOYD AVENUE · EAST PROVIDENCE, RI 02914	Contract Administrator	$24,000
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INS. CO OF AMERICA Service code 64 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$16,033

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H

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.
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

3 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).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$124K

$298 / participant

Recordkeeping$15K11.8%
Investment mgmt$85K68.9%
Contract admin$24K19.3%

% of EOY assets

0.224%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BDO USA, P.C.
Auditor EIN: 135381590
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$70,527

$95,369-26.0%

$135,942-48.1%

$74,440-5.3%

Participation rate

94.5%

78.2%+16.3pp

81.9%+12.6pp

70.7%+23.7pp

Annual return

3636.26%

32.72%+3603.5pp

68.28%+3568.0pp

34.37%+3601.9pp

Employer contribution / active EE

$6,870

$3,878+77.2%

$4,858+41.4%

$2,638+160.4%

Participant deferral / active EE

$14,900

$7,788+91.3%

$7,759+92.0%

$4,529+229.0%

Admin fee / account holder

$158

$266-40.7%

$10,764-98.5%

$348-54.6%

Provider

Service type

Compensation

GLOBAL RETIREMENT PARTNERS LLC1 year

Filed as: GLOBAL RETIREMENT PARTNERS. LLC

Service code 27

4340 REDWOOD HWY - SUITE B60 · SAN RAFAEL, CA 94903

Advisory (Plan)

$85,467

THE ANGELL PENSION GROUP, INC.1 year

Filed as: THE ANGELL PENSION GROUP, INC

Service code 13

88 BOYD AVENUE · EAST PROVIDENCE, RI 02914

Contract Administrator

$24,000

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INS. CO OF AMERICA

Service code 64

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$16,033

SYMPHONYAI 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SYMPHONYAI 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