# Summit 7 Systems, LLC 401(k) Plan
Source: https://planprovider.pro/companies/summit-7-systems-llc-401k-plan

> Summit 7 Systems, LLC's 401(k) plan: 223 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Summit 7 Systems, LLC

- **Sponsor EIN:** 271467561

- **Sponsor Address:** 2 PARADE STREET NW, HUNTSVILLE, AL, 35806

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

- **Total Participants:** 223

- **Total Assets:** $8.5M

## 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|223|$8.5M|$683,137|$1.3M|

| 2023|183|$5.3M|$457,738|$871,429|

| 2022|124|$3.6M|$320,970|$613,939|

## 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|

| BMSS, LLC|Auditor|$21,595|—|$21,595|

### Verified Provider Profiles

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

- [BMSS, LLC](https://planprovider.pro/provider/bmss-llc) — Auditor

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $21,595

- **Estimated Expense Ratio:** 0.255% 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|$47,856|—|—|$21,595|—|

| 2023|-$5,039|—|—|—|—|

| 2022|-$2,850|—|—|—|—|

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