Backoffice Associates, LLC dba Syniti401(k)
BACKOFFICE ASSOCIATES, LLC DBA SYNITI PROFIT SHARING PLAN · NEEDHAM, MA · plan year 2024
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
Backoffice Associates, LLC dba Syniti reported $135,994 in plan administrative expenses for 2024: 0.16% of average plan assets, above the peer median. Employer contributions averaged $4,293 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio fell from 0.17% to 0.16%. The plan sits in the $50M–$250M size bracket, benchmarked here against 10,352 comparable plans and shown alongside other professional & technical services employers. By assets it is the 448th-largest of 2,726 plans among Massachusetts employers on file, and the 1,618th of 11,654 in professional & technical services. In 2024, employees put in $2.80 for every $1.00 the employer contributed.
Backoffice Associates, LLC dba Syniti's 2024 employer contribution ran above the $3,635 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 261544182 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.