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 |
|---|---|---|---|---|
| COULTER & JUSTUS, P.C. | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 |