TD Synnex 401(k) match, vesting and fees
What TD Synnex's 401(k) plan says about matching contributions
The Company may make matching contributions at its discretion. During the year ended December 31, 2024, the Company made matching contributions of 50% of the first 6% of eligible compensation that participants contributed to the Plan. Employees must complete 6 months of service to be eligible to receive Company matching contributions.
Quoted directly from the filing. Plan terms may have changed; check your current Summary Plan Description.
Plan features
Indented passages are quoted word for word from the audit report; plan terms may have changed since, so check your current Summary Plan Description.
| Employer match | Quoted from the filing above | Audit report, p. 32 ↗ |
| Match vesting | Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company’s contribution portion of their accounts is based on years of continuous service. A participant is 30% vested after one year of credited service, 60% vested after two years of credited service and 100% vested after three years of credited service. Employees who are members of certain classes receive a different vesting schedule as defined in the Plan. Regardless of years of service, participants will become 100% vested upon attainment of normal retirement age (age 65, as defined in the Plan), or in the event of death or total and permanent disability. | Audit report, p. 33 ↗ |
| Automatic enrollment | The Plan includes an autoenrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at 3% of eligible compensation and their contributions invested in a designated balanced fund until changed by the participant. | Audit report, p. 32 ↗ |
| Roth contributions | Each year, participants may contribute up to 90% of eligible compensation as pre-tax or Roth contributions, as defined in the Plan. | Audit report, p. 32 ↗ |
| Loans | Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. The loans are secured by the balance in the participant’s account and bear interest at rates which are commensurate with local prevailing rates as determined by the plan administrator. | Audit report, p. 33 ↗ |
| Recordkeeper | Fidelity Investments Institutional | Schedule C ↗ |
| Independent auditor | Cbiz Cpas PC (unmodified opinion) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
All rows are from the plan year 2024 filing; plan features from its audit report.
How the plan compares
Plan year 2024 medians for 56 defined-contribution plans in wholesale trade with 5,000 to 9,999 participants.
| TD Synnex: employer contribution per participant | $1,683 | |
| Peer median | $2,404 |
| TD Synnex: average balance | $90,487 | |
| Peer median | $85,831 |
| TD Synnex: admin expenses ÷ assets | 0.05% | |
| Peer median | 0.10% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $292M at the end of plan year 2021 to $896M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 10,330 | $896M | $16.7M | $1,683 | 0.05% | Quoted in the audit report, p. 32 ↗ | Form 5500 ↗ |
| 2023 | 10,265 | $766M | $16.9M | $1,697 | 0.07% | Not published | Form 5500 ↗ |
| 2022 | 4,383 | $254M | $7.1M | $3,340 | 0.09% | Not published | Form 5500 ↗ |
| 2021 | 4,279 | $292M | $3.9M | $951 | 0.12% | Not published | Form 5500 ↗ |
Common questions
Does TD Synnex match 401(k) contributions?
The audit report attached to the Td Synnex 401(k) Retirement Plan's plan year 2024 Form 5500, page 32 says: “The Company may make matching contributions at its discretion. During the year ended December 31, 2024, the Company made matching contributions of 50% of the first 6% of eligible compensation that participants contributed to the Plan. Employees must complete 6 months of service to be eligible to receive Company matching contributions.” Plan terms may have changed; check your current Summary Plan Description.
When is the TD Synnex 401(k) match vested?
The audit report attached to the plan year 2024 Form 5500, page 33 says: “Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company’s contribution portion of their accounts is based on years of continuous service. A participant is 30% vested after one year of credited service, 60% vested after two years of credited service and 100% vested after three years of credited service. Employees who are members of certain classes receive a different vesting schedule as defined in the Plan. Regardless of years of service, participants will become 100% vested upon attainment of normal retirement age (age 65, as defined in the Plan), or in the event of death or total and permanent disability.”
Who manages the TD Synnex 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Fidelity Investments Institutional. The plan administrator is Td Synnex Corporation.
I left TD Synnex. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Td Synnex Corporation, (510) 656-3333) or the recordkeeper, Fidelity Investments Institutional. The TD Synnex old 401(k) page lists the contacts from every plan filing. Find an old TD Synnex 401(k)
Data from the public Form 5500 annual reports TD Synnex filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with TD Synnex. Not financial advice. Report a correction · Methodology