Retirement plan

SUMMIT MANAGEMENT SERVICES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Name: SUMMIT MANAGEMENT SERVICES, INC. - SUMMIT MANAGEMENT SERVICES, INC. 401(K) PROFIT SHARING PLAN AND TRUST (2020) Form 5500
Creator: SUMMIT MANAGEMENT SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMMIT MANAGEMENT SERVICES, INC. 401(K) PROFIT SHARING PLAN AND TRUST, SUMMIT MANAGEMENT SERVICES, INC.

SUMMIT MANAGEMENT SERVICES, INC.EIN 52-2328140Plan #001PY 2020

3833 FARRAGUT AVENUE - KENSINGTON, MD 20895301-761-5187summitmanage.comLinkedIn11-50 employeesreal estate

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$1.6M

+27.6% from 2019

Total participants

-11.9% from 2019

Average account balance

$96,926

+20.1% from 2019

Annual return

20.76%

-3.92 pp from 2019

Benchmarks

See 3,715 peers

Peer group

Industry53 - Real Estate and Rental and Leasing

Plan typeDefined contribution

Participants25-99

Cohort3,715 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.57M

Not enough data

1 years with asset history on file

Average account balance

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

$128K

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.

62.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$118K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+15.70%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1626

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 codes2E2F2G2J2T3D

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.
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.
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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$2K

$61 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.111%

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

$96,926

$72,027+34.6%

$185,835-47.8%

$79,852+21.4%

Participation rate

33.3%

65.8%-32.4pp

78.0%-44.7pp

69.6%-36.3pp

Annual return

20.76%

23.13%-2.4pp

35.96%-15.2pp

31.72%-11.0pp

Employer contribution / active EE

$834

$1,965-57.6%

$4,087-79.6%

$2,471-66.2%

Participant deferral / active EE

$2,162

$3,780-42.8%

$5,633-61.6%

$3,740-42.2%

Admin fee / account holder

$108

$4,513-97.6%

$9,502-98.9%

$5,306-98.0%

SUMMIT MANAGEMENT SERVICES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMMIT MANAGEMENT SERVICES, INC. 401(K) PROFIT SHARING PLAN AND TRUST

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