Plan5500

Summit Mortgage 401(K) Retirement Plan — Form 5500 plan (Summit Mortgage Corporation)

Plain-English plan summary

According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Summit Mortgage 401(K) Retirement Plan is a benefit plan reported by Summit Mortgage Corporation under EIN 41-1726353 and plan number 001. The latest loaded filing year is 2023. The filing reports 238 participants and $16,700,794 in end-of-year plan assets, where available in the loaded dataset.

Form 5500 plan profile · 2023

Key reported metrics

Net assets (EOY)$16.7MPlan net assets, end of year$16,697,969
Participants238Covered participants reported
Assets / participant$70.2KComputed: assets ÷ participants$70,171 (computed)
Provider compensation$4.3K1 Schedule C provider row(s)$4,333
Plan sponsor
Summit Mortgage Corporation
EIN
41-1726353
Plan number
001
Plan type
2
Location
Plymouth, MN
Latest filing year
2023
How to read this plan profile
  • Net assets = total assets minus total liabilities, end of year (Schedule H/I).
  • Assets / participant is computed (assets ÷ reported participants) — a ratio, not a filed figure.
  • Schedule chips (Sch H / I / C) show which schedules each filing includes.
  • Fields a filing did not report are labeled not reported in the loaded dataset — never estimated.
  • Figures are reported as filed, in whole dollars; verify against the official DOL/EBSA record before relying on them.
EFAST2 filings

Form 5500 filing history

Each loaded annual filing for this plan. Open one for its full reported snapshot.

  1. 2023
    238 participants · 2Sch HSch C
    View filing →
Schedule H · 2023

Reported financial statement

Reported figures as filed, in whole dollars. Only fields the filing reports are shown; others are marked not reported.

Reported balance (end of year)$16.7M total assets
Net assets$16.7MLiabilities$2.8K
Money in vs. money out
Total income / additions$3.6M
Total expenses$2.8M
Benefits paid / distributions$2.8M
Contributions
Employer$160.2K
Participant$925.3K
Full reported line items

Net assets

Total assets (EOY)
$16,700,794
Total liabilities (EOY)
$2,825
Net assets (EOY)
$16,697,969
Net assets (BOY)
$15,968,471

Income & contributions

Employer contributions
$160,207
Participant contributions
$925,328
Total contributions
$1,160,730
Total income / additions
$3,573,056

Expenses & distributions

Benefits paid
$2,762,299
Administrative expenses
$3,900
Total expenses
$2,843,558
Net increase / (decrease)
$729,498
Computed from reported fields

Reported ratios

Derived only from this plan's own reported figures — comparisons within the filing, not benchmarks, estimates, or national averages.

Contribution share (employer vs. participant)
Employer 15%Participant 85%
Total expenses ÷ net assets17%Computed ratio
Benefits paid ÷ total income77%Computed ratio
Provider comp. ÷ net assets0%Computed ratio
Schedule C

Service provider compensation

Reported direct + indirect compensation per provider, ranked. Bars show relative scale.

  1. 1
    Merrill Lynch, Pierce, Fenner And S$4.3K
    RECORDKEEPER · Direct $4.3K · Indirect $0

What to inspect next

Frequently asked questions

Who sponsors the Summit Mortgage 401(K) Retirement Plan?
Summit Mortgage 401(K) Retirement Plan is reported as sponsored by Summit Mortgage Corporation (EIN 41-1726353, plan number 001) in public Form 5500 filings.
What is the most recent Form 5500 filing year for Summit Mortgage 401(K) Retirement Plan?
The latest Form 5500 filing year loaded for Summit Mortgage 401(K) Retirement Plan is 2023.
How many participants does Summit Mortgage 401(K) Retirement Plan report?
Summit Mortgage 401(K) Retirement Plan reports 238 participants in its latest loaded Form 5500 filing.
What are the reported plan assets for Summit Mortgage 401(K) Retirement Plan?
Summit Mortgage 401(K) Retirement Plan reports $16,700,794 in end-of-year plan assets in its latest loaded Form 5500 filing.
Form 5500 terms, in plain English
Form 5500
The annual report most U.S. employee benefit plans file with the Department of Labor through the EFAST2 system. It documents the plan sponsor, participants, finances, and service-provider compensation.
Schedule H
The financial statement for larger plans (generally 100+ participants): assets, liabilities, net assets, income, expenses, and the net change.
Schedule I
The condensed financial statement for smaller plans, covering the same kinds of figures in less detail.
Schedule C
Reports compensation paid to the plan’s service providers — both direct and indirect.
Net assets
Total assets minus total liabilities at the end of the year — what the plan holds for participants.
Employer / participant contributions
Money contributed to the plan by the employer and by participants during the year.

Figures are reported as filed and may contain errors or omissions. Verify against the official DOL/EBSA record before relying on any value.

Related Form 5500 pages