Retirement plan

SUMMIT WEALTH MANAGEMENT 401(K) AND PSP

Name: SUMMIT WEALTH MANAGEMENT - SUMMIT WEALTH MANAGEMENT 401(K) AND PSP (2015) Form 5500
Creator: SUMMIT WEALTH MANAGEMENT
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMMIT WEALTH MANAGEMENT 401(K) AND PSP, SUMMIT WEALTH MANAGEMENT

SUMMIT WEALTH MANAGEMENTEIN 26-0311141Plan #001PY 2015

517 WEST THIRD STREET - JAMESTOWN, NY 14701716-484-3009summitwmi.comLinkedIn11-50 employeesfinancial services

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$94K

No prior year

Total participants

No prior year

Average account balance

$9,369

No prior year

Annual return

48.94%

No prior year

Benchmarks

See 27,820 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort27,820 peers

Snapshot2015

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$1.13M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$81K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

107.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$109K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+18.13%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$6336

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2H2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.

Opportunity flags

1 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$9,369

$140,592-93.3%

$123,106-92.4%

$125,393-92.5%

Participation rate

100.0%

88.2%+11.8pp

86.8%+13.2pp

83.2%+16.8pp

Annual return

48.94%

16.80%+32.1pp

13.22%+35.7pp

282.23%-233.3pp

Employer contribution / active EE

$1,260

$6,041-79.1%

$5,151-75.5%

$4,866-74.1%

Participant deferral / active EE

$3,851

$6,980-44.8%

$6,229-38.2%

$5,351-28.0%

Admin fee / account holder

$11,198-100.0%

$9,015-100.0%

$9,541-100.0%

SUMMIT WEALTH MANAGEMENT 401(K) AND PSP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

SUMMIT WEALTH MANAGEMENT 401(K) AND PSP

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion