Retirement plan

SUMMIT SENIOR LIVING, LLC 401(K) PLAN

Name: SUMMIT SENIOR LIVING, LLC - SUMMIT SENIOR LIVING, LLC 401(K) PLAN (2023) Form 5500
Creator: SUMMIT SENIOR LIVING, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMMIT SENIOR LIVING, LLC 401(K) PLAN, SUMMIT SENIOR LIVING, LLC

SUMMIT SENIOR LIVING, LLCEIN 46-2265268Plan #001PY 2023

18 COMPUTER DRIVE EAST, SUITE 107 - ALBANY, NY 12205518-213-5050summitseniorlife.comLinkedIn11-50 employeesreal estate

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$390K

+19.9% from 2022

Total participants

-10.7% from 2022

Average account balance

$15,588

+34.3% from 2022

Annual return

15.54%

+34.00 pp from 2022

Benchmarks

See 19,279 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants<25

Cohort19,279 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$466K

Not enough data

1 years with asset history on file

Average account balance

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

$17K

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.

127.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$108K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+14.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3149

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 codes2F2G2J2T3B3D3H

Plan features

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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$84K

$4444 / participant

Other / not subdivided$84K100.0%

% of EOY assets

21.669%

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

$15,588

$202,440-92.3%

$169,390-90.8%

$139,466-88.8%

Participation rate

100.0%

81.1%+18.9pp

77.2%+22.8pp

80.3%+19.7pp

Annual return

15.54%

532.36%-516.8pp

406.07%-390.5pp

373.66%-358.1pp

Employer contribution / active EE

$2,208

$4,693-52.9%

$4,013-45.0%

$4,754-53.5%

Participant deferral / active EE

$2,956

$6,940-57.4%

$6,222-52.5%

$6,712-56.0%

Admin fee / account holder

$3,378

$10,722-68.5%

$9,015-62.5%

$11,409-70.4%

SUMMIT SENIOR LIVING, LLC 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMMIT SENIOR LIVING, LLC 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