Retirement plan

SUMMIT BUSINESS MANAGEMENT, INC. 401(K) PLAN

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

SUMMIT BUSINESS MANAGEMENT, INC.EIN 26-0387869Plan #001PY 2015

16255 VENTURA BOULEVARD STE 625 - ENCINO, CA 91436818-981-3115summitbusinessmgmt.comLinkedIn1-10 employees

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$343K

No prior year

Total participants

No prior year

Average account balance

$12,693

No prior year

Annual return

-3.09%

No prior year

Benchmarks

See 103,910 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants<25

Cohort103,910 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$312K

Not enough data

1 years with asset history on file

Average account balance

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

$16K

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.

86.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$19K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$851

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

+8.20%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4228

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 codes2E2F2G2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
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.
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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$6K

$264 / participant

Other / not subdivided$6K100.0%

% of EOY assets

1.773%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

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

$12,693

$127,386-90.0%

$115,037-89.0%

$125,393-89.9%

Participation rate

95.7%

84.2%+11.5pp

81.4%+14.3pp

83.2%+12.5pp

Annual return

-3.09%

31.28%-34.4pp

26.14%-29.2pp

282.23%-285.3pp

Employer contribution / active EE

$1,304

$5,166-74.8%

$4,608-71.7%

$4,866-73.2%

Participant deferral / active EE

$248

$6,423-96.1%

$6,026-95.9%

$5,351-95.4%

Admin fee / account holder

$225

$9,516-97.6%

$8,175-97.2%

$9,541-97.6%

SUMMIT BUSINESS MANAGEMENT, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMMIT BUSINESS MANAGEMENT, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion