Synchronous LLC dba First Mode401(k)
FIRST MODE 401(K) PLAN · SEATTLE, WA · plan year 2024
Peer grade: A- · admin costs + employer contributions vs same-size plans · how grading works
Synchronous LLC dba First Mode reported $32,651 in plan administrative expenses for 2024: 0.26% of average plan assets, below the peer median. Employer contributions averaged $13,003 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 0.29% to 0.26%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other professional & technical services employers. By assets it is among the smaller plans on file in Washington (899th of 1,714), and 6,880th of 11,654 in professional & technical services. In 2024, employees put in $3.12 for every $1.00 the employer contributed; active participation has shrunk from 180 to 65 since 2022.
Synchronous LLC dba First Mode's 2024 employer contribution ran above the $2,416 median for plans its size, placing it in the top quarter of its peers. 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.
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Source: U.S. Department of Labor, Form 5500 series, EIN 824351829 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.