Summit Group, LLC 401(K) Plan — Form 5500 plan (Summit Group, LLC)
Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Summit Group, LLC 401(K) Plan is a benefit plan reported by Summit Group, LLC under EIN 80-0589384 and plan number 001. The latest loaded filing year is 2023. The filing reports 175 participants and $16,644,330 in end-of-year plan assets, where available in the loaded dataset.
Form 5500 plan profile · 2023
Key reported metrics
Net assets (EOY)$16.6MPlan net assets, end of year$16,644,330
Participants175Covered participants reported
Assets / participant$95.1KComputed: assets ÷ participants$95,110 (computed)
Provider compensation$55.8K2 Schedule C provider row(s)$55,788
- Plan sponsor
- Summit Group, LLC
- EIN
- 80-0589384
- Plan number
- 001
- Plan type
- 2
- Location
- Silver Spring, MD
- Latest filing year
- 2023
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 175 | H, C | 20241015134428NAL0016519507001 |
Schedule H · 2023
Reported financial statement
Reported figures as filed, in whole dollars. Only fields the filing reports are shown; others are marked not reported.
Reported balance (end of year)$16.6M total assets
Net assets$16.6MLiabilities$0
Full reported line items
Net assets
- Total assets (EOY)
- $16,644,330
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $16,644,330
- Net assets (BOY)
- $15,326,805
Income & contributions
- Employer contributions
- $260,707
- Participant contributions
- $831,731
- Total contributions
- $1,275,415
- Total income / additions
- $4,208,193
Expenses & distributions
- Benefits paid
- $2,832,048
- Administrative expenses
- $55,788
- Total expenses
- $2,890,668
- Net increase / (decrease)
- $1,317,525
Computed from reported fields
Reported ratios
Derived only from this plan's own reported figures — comparisons within the filing, not benchmarks, estimates, or national averages.
24%76%
Employer 24%Participant 76%
Total expenses ÷ net assets17%Computed ratio
Benefits paid ÷ total income67%Computed ratio
Provider comp. ÷ net assets0%Computed ratio
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Nfp Retirement Inc | ADVISOR | $32,038 | not reported in the loaded dataset | 2023 |
| Fidelity Investments Institutional | RECORDKEEPER | $23,750 | $0 | 2023 |