Plan Snapshot
- Plan Sponsor: Summit Management Partners, LLC
- Sponsor EIN: 853668797
- Sponsor Address: 2054 VISTA PARKWAY, WEST PALM BEACH, MA, 33411
- Plan Type: 401(k)
- Total Participants: 427
- Total Assets: $2.8M
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 | 427 | $2.8M | $370,442 | $734,997 |
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 |
|---|---|---|---|---|
| THE VANGUARD GROUP, INC. | RECORDKEEPER | $20,113 | — | $20,113 |
| COMPASS RET CONSULTING GROUP INC | THIRD PARTY ADMIN | $18,026 | — | $18,026 |
| MMA SECURITIES | INVESTMENT ADVISOR | $6,883 | — | $6,883 |
| GRAY, GRAY & GRAY LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- THE VANGUARD GROUP, INC. — RECORDKEEPER
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $45,022
- Estimated Expense Ratio: 1.588% 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 | $45,258 | $6,883 | — | — | — |