Retirement plan

SUMMIT INFORMATION RESOURCES 401(K) PROFIT SHARING PLAN

Name: SUMMIT INFORMATION RESOURCES, INC. - SUMMIT INFORMATION RESOURCES 401(K) PROFIT SHARING PLAN (2016) Form 5500
Creator: SUMMIT INFORMATION RESOURCES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMMIT INFORMATION RESOURCES 401(K) PROFIT SHARING PLAN, SUMMIT INFORMATION RESOURCES, INC.

SUMMIT INFORMATION RESOURCES, INC.EIN 41-1734895Plan #001PY 2016

2935 WATERS ROAD SUITE 200 - EAGAN, MN 55121651-905-6000summitir.comLinkedIn51-200 employeesinformation technology and services

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$1.8M

+19.4% from 2015

Total participants

+3.4% from 2015

Average account balance

$62,210

-1.2% from 2015

Annual return

9.01%

+10.04 pp from 2015

Benchmarks

See 9,335 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants25-99

Cohort9,335 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.01M

Not enough data

1 years with asset history on file

Average account balance

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

$117K

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.

122.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$511K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+17.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8606

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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$16K

$574 / participant

Other / not subdivided$16K100.0%

% of EOY assets

0.860%

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

$62,210

$69,977-11.1%

$108,582-42.7%

$62,881-1.1%

Participation rate

96.3%

72.9%+23.4pp

79.6%+16.7pp

69.3%+27.0pp

Annual return

9.01%

10.73%-1.7pp

-51.70%+60.7pp

20.14%-11.1pp

Employer contribution / active EE

$2,755

$2,135+29.0%

$3,758-26.7%

$2,281+20.8%

Participant deferral / active EE

$3,633

$3,165+14.8%

$4,311-15.7%

$3,203+13.4%

Admin fee / account holder

$535

$5,076-89.5%

$7,645-93.0%

$4,296-87.5%

SUMMIT INFORMATION RESOURCES 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMMIT INFORMATION RESOURCES 401(K) PROFIT SHARING 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