# Summit Federal Credit Un 401(k) Plan
Source: https://planprovider.pro/companies/summit-federal-credit-un-160754720-002

> Summit Federal Credit Un's 401(k) plan: 236 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Summit Federal Credit Un

- **Sponsor EIN:** 160754720

- **Sponsor Address:** 100 MARINA DR, ROCHESTER, NY, 146265104

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

- **Plan Number:** 002

- **Total Participants:** 236

- **Total Assets:** $30.1M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **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|236|$30.1M|$285,506|$1.4M|

| 2023|222|$27.3M|$259,703|$1.3M|

| 2022|228|$23.4M|$230,823|$1.1M|

## 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|

| PRINCIPAL LIFE INSURANCE COMPANY|Recordkeeper|$90,219|—|$90,219|

| SAGE, RUTTY AND CO., INC.|Investment Advisor|—|$38,321|$38,321|

### Verified Provider Profiles

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

- [SAGE, RUTTY AND CO., INC.](https://planprovider.pro/provider/sage-rutty-and-co-inc) — Investment Advisor

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $128,540

- **Estimated Expense Ratio:** 0.427% 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|$90,220|—|$90,220|—|—|

| 2023|$81,966|—|$81,966|—|—|

| 2022|$72,576|—|$72,576|—|—|

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