Retirement plan

SUMMIT STORAGE SYSTEMS 401(K) PLAN

Name: SUMMIT STORAGE SYSTEMS, LLC - SUMMIT STORAGE SYSTEMS 401(K) PLAN (2022) Form 5500
Creator: SUMMIT STORAGE SYSTEMS, LLC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SUMMIT STORAGE SYSTEMS 401(K) PLAN, SUMMIT STORAGE SYSTEMS, LLC

SUMMIT STORAGE SYSTEMS, LLCEIN 83-4508174Plan #001PY 2022

1922 E. SALTSAGE DR. - PHOENIX, AZ 85048480-980-6936summitstoragesystems.comLinkedIn1-10 employeeswarehousing

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$698K

No prior year

Total participants

No prior year

Average account balance

$139,560

No prior year

Annual return

-15.51%

No prior year

Benchmarks

See 10,382 peers

Peer group

Industry51 - Information

Plan typeDefined contribution

Participants<25

Cohort10,382 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.58M

Not enough data

1 years with asset history on file

Average account balance

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

$226K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$241K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$34K

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

+15.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2J3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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

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

$9K

$1700 / participant

Other / not subdivided$9K100.0%

% of EOY assets

1.218%

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

$139,560

$99,644+40.1%

$86,438+61.5%

$134,532+3.7%

Participation rate

100.0%

82.1%+17.9pp

80.3%+19.7pp

81.2%+18.8pp

Annual return

-15.51%

6787.26%-6802.8pp

4397.19%-4412.7pp

418.27%-433.8pp

Employer contribution / active EE

$33,900

$4,402+670.1%

$3,769+799.3%

$4,741+615.0%

Participant deferral / active EE

$23,258

$7,247+220.9%

$6,952+234.5%

$6,401+263.4%

Admin fee / account holder

$1,700

$8,375-79.7%

$6,733-74.7%

$11,429-85.1%

SUMMIT STORAGE SYSTEMS 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SUMMIT STORAGE SYSTEMS 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