Plan Snapshot
- Plan Sponsor: Summit Medical Group, PLLC
- Sponsor EIN: 621585063
- Sponsor Address: 1275 DICK LONAS RD, SUITE 201, KNOXVILLE, TN, 37909
- Plan Type: 401(k)
- Total Participants: 1,829
- Total Assets: $348.1M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- 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 | 1,829 | $348.1M | $14.8M | $9.0M |
| 2023 | 1,542 | $293.5M | $12.9M | $7.9M |
| 2022 | 1,344 | $246.0M | $11.0M | $6.6M |
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, IN | Recordkeeper | $190,357 | — | $190,357 |
| FIRST HORIZON ADVISORS | Other Service Provider | $130,429 | — | $130,429 |
| FTB ADVISORS, INC. | Other Service Provider | $47,983 | — | $47,983 |
| ACUFF & ASSOCIATES | Other Service Provider | $32,448 | — | $32,448 |
| ASSET PLANNING CORPORATION | Investment Advisor | $31,197 | — | $31,197 |
| USI ADVISORS, INC. | Other Service Provider | $30,000 | — | $30,000 |
| NBZ INVESTMENT ADVISORS, LLC | Other Service Provider | $26,411 | — | $26,411 |
| LEADING EDGE | Other Service Provider | $25,646 | — | $25,646 |
| PORTFOLIO AUDIT LLC PRIVATE WEALTH | Other Service Provider | $17,625 | — | $17,625 |
| MOON CAPITAL MANAGEMENT, LLC | Other Service Provider | $16,846 | — | $16,846 |
| CVFG, LLC | Other Service Provider | $12,206 | — | $12,206 |
| PATRIOT INVESTMENT MANAGEMENT | Investment Advisor | $12,005 | — | $12,005 |
| THE NALLS SHERBAKOFF GROUP | Other Service Provider | $7,155 | — | $7,155 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- SCHWAB RETIREMENT PLAN SERVICES, IN — Recordkeeper
- ASSET PLANNING CORPORATION — Investment Advisor
- PATRIOT INVESTMENT MANAGEMENT — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $580,308
- Estimated Expense Ratio: 0.167% 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 | $448,842 | $287,352 | $32,448 | — | — |
| 2023 | $420,134 | $242,448 | — | — | — |
| 2022 | $479,107 | $305,010 | $145,325 | — | $9,552 |