# 1st Summit Bancorp 401(k) Plan
Source: https://planprovider.pro/companies/1st-summit-bancorp-401k-plan

> 1st Summit Bancorp's 401(k) plan: 220 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** 1st Summit Bancorp

- **Sponsor EIN:** 251619855

- **Sponsor Address:** 125 DONALD LANE, JOHNSTOWN, PA, 15904

- **Plan Type:** 401(k)

- **Total Participants:** 220

- **Total Assets:** $24.2M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** Yes

- **ERISA Section 404(c) Fiduciary Safe Harbor:** Yes

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|220|$24.2M|$258,000|$898,949|

| 2023|225|$24.4M|$284,000|$902,974|

| 2022|242|$26.9M|$262,492|$923,896|

## Service Providers (Schedule C)

Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).

| Provider Name|
Role|
Direct Compensation|
Indirect Compensation|
Total Fees|

| S.R. SNODGRASS, P.C.|Auditor|$11,072|—|$11,072|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [S.R. SNODGRASS, P.C.](https://planprovider.pro/provider/s-r-snodgrass-pc) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $11,072

- **Estimated Expense Ratio:** 0.046% of plan assets

### Historical Administrative Expenses

Breakdown of administrative expense categories reported on Form 5500 filings.

| Year|
Total Admin Expenses|
Investment Mgmt Fees|
Contract Admin Fees|
IQPA Audit Fees|
Professional Fees|

| 2024|$41,137|—|$16,004|$11,072|—|

| 2023|$40,022|$6,971|$14,366|$10,710|—|

| 2022|$33,780|—|$24,069|—|$9,711|

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