Syracuse Orthopedic Specialists, PC 401(k) Review & Grade
Syracuse Orthopedic Specialists, P.C. Retirement Incentive Savings Plan
Syracuse, NYHealth Care & Social Assistance736 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,067Employer $ per active participant
$5,197Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$106.8MNet plan assets, end of year
$116,102Average balance per account
Score breakdown
- Employer generosity43.9 / 5088th percentile for employer $ per participant
- Low cost19.9 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving12.1 / 1581th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score86 / 100 · Grade A
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 80th |
| Employee saving | 81th |
| Peers that auto-enroll | 36% |
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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
- Syracuse Orthopedic Specialists put in about $4,067 per active participant, more than the typical peer ($976). 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.
- 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 | $2,993,488 |
| Participant (employee) contributions | $3,825,158 |
| Other contributions (incl. rollovers in) | $241,806 |
| Administrative expenses paid from the plan | $79,531 |
| Investment advisory & management fees | $53,800 |
| Other admin expenses | $2,500 |
| Benefits paid out | $11,368,773 |
| Net assets, start / end of year | $98.3M / $106.8M |
| Active participants, start / end of year | 720 / 752 |
| Participants with account balances | 920 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bonadio & Co., LLP |
Largest service providers (Schedule C)
| Wilmington Trust National Assoc | $40,350 reported compensation |
| LPL Financial LLC | $13,450 reported compensation |
| Bonadio & Co LLP | $13,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009153636NAL0004048195001, received 2025-10-09, EIN 16-0992982, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.