Vendor Credentialing Service, LLC D/B/A Symplr 401(k) Review & Grade
Symplr 401(k) Plan and Trust
Houston, TXProfessional, Scientific & Technical Services1,532 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,384Employer $ per active participant
$8,291Employee $ saved per active participant
0.30%Direct admin cost, % of plan assets
$143.6MNet plan assets, end of year
$78,724Average balance per account
Score breakdown
- Employer generosity34.1 / 5068th percentile for employer $ per participant
- Low cost10.2 / 2541th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 68th |
| Lower admin cost | 41th |
| Employee saving | 44th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($3,374,961 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Vendor Credentialing Service, LLC D/B/A Symplr put in about $4,384 per active participant, more than the typical peer ($3,082). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $6,716,323 |
| Participant (employee) contributions | $12,701,767 |
| Other contributions (incl. rollovers in) | $3,842,383 |
| Administrative expenses paid from the plan | $386,626 |
| Contract administrator fees | $386,626 |
| Benefits paid out | $13,017,848 |
| Net assets, start / end of year | $117.4M / $143.6M |
| Active participants, start / end of year | 1,581 / 1,483 |
| Participants with account balances | 1,824 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $338,209 reported compensation |
| Creative Planning, Inc. | $88,850 reported compensation |
| Ascensus | $66,903 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013160615NAL0000800339001, received 2025-10-13, EIN 48-1035673, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.