Plan Snapshot
- Plan Sponsor: Summit Funding, INC.
- Sponsor EIN: 911780488
- Sponsor Address: 2135 BUTANO DRIVE, SACRAMENTO, CA, 95825
- Plan Type: 401(k)
- Total Participants: 499
- Total Assets: $45.7M
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 | 499 | $45.7M | $433,896 | $3.5M |
| 2023 | 478 | $45.1M | $513,084 | $3.8M |
| 2022 | 614 | $41.5M | $948,294 | $6.4M |
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 |
|---|---|---|---|---|
| SCHWAB RETIREMENT PLAN SERVICES,INC | NONE | $64,950 | — | $64,950 |
| SAGE ADVISORY GROUP | NONE | $48,399 | — | $48,399 |
| BAKER TILLY US, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- SCHWAB RETIREMENT PLAN SERVICES,INC — NONE
- SAGE ADVISORY GROUP — NONE
- BAKER TILLY US, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $113,349
- Estimated Expense Ratio: 0.248% 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 | $113,283 | $48,400 | — | — | — |
| 2023 | $109,894 | $31,350 | — | — | — |
| 2022 | $150,975 | $45,000 | — | — | — |