Syndigo LLC 401(k) Review & Grade
Syndigo 401(k) Plan
Chicago, ILOther Services546 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,458Employer $ per active participant
$9,357Employee $ saved per active participant
0.38%Direct admin cost, % of plan assets
$49.6MNet plan assets, end of year
$63,142Average balance per account
Score breakdown
- Employer generosity42.0 / 5084th percentile for employer $ per participant
- Low cost8.1 / 2532th percentile for low admin cost vs. same-size plans
- Employee saving13.8 / 1592th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 84th |
| Lower admin cost | 32th |
| Employee saving | 92th |
| Peers that auto-enroll | 40% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($2,782,780 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $485 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Syndigo put in about $3,458 per active participant, more than the typical peer ($1,257). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.38% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $1,889,989 |
| Participant (employee) contributions | $5,113,770 |
| Other contributions (incl. rollovers in) | $809,229 |
| Administrative expenses paid from the plan | $169,405 |
| Benefits paid out | $3,481,533 |
| Net assets, start / end of year | $39.7M / $49.6M |
| Active participants, start / end of year | 539 / 554 |
| Participants with account balances | 785 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Citrin Cooperman & Company LLP |
Largest service providers (Schedule C)
| John Hancock | $118,585 reported compensation |
| Raymond James & Associates, Inc. | $50,820 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015175413NAL0005304977001, received 2025-10-15, EIN 20-3328053, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.