Synergy Rents, LLC 401(k) Review & Grade
Synergy Equipment 401(k) Plan
Tampa, FLOther Services540 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,203Employer $ per active participant
$3,928Employee $ saved per active participant
0.75%Direct admin cost, % of plan assets
$16.0MNet plan assets, end of year
$25,684Average balance per account
Score breakdown
- Employer generosity35.2 / 5070th percentile for employer $ per participant
- Low cost2.8 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving9.9 / 1566th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 70th |
| Lower admin cost | 11th |
| Employee saving | 66th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Synergy Rents put in about $2,203 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 (0.75% 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.
- 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 | $1,189,579 |
| Participant (employee) contributions | $2,120,985 |
| Other contributions (incl. rollovers in) | $158,174 |
| Administrative expenses paid from the plan | $107,298 |
| Investment advisory & management fees | $43,784 |
| Benefits paid out | $1,572,426 |
| Net assets, start / end of year | $12.5M / $16.0M |
| Active participants, start / end of year | 537 / 543 |
| Participants with account balances | 622 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $63,514 reported compensation |
| Regions Bank DBA Regions Trust | $41,273 reported compensation |
| Empower Advisory Group, LLC | $2,511 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008132933NAL0005617793001, received 2025-10-08, EIN 46-2661933, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.