Summit Financial Group, Inc. Defined Contribution Plan — Form 5500 plan (Summit Financial Group, Inc.)
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 Financial Group, Inc. Defined Contribution Plan is a benefit plan reported by Summit Financial Group, Inc. under EIN 55-0672148 and plan number 001. The latest loaded filing year is 2023. The filing reports 533 participants and $42,967,066 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Summit Financial Group, Inc.
- EIN
- 55-0672148
- Plan number
- 001
- Plan type
- 2
- Location
- Moorefield, WV
- Latest filing year
- 2023
- Participants
- 533
- End-of-year plan assets
- $42,967,066
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 533 | H, C | 20241015091120NAL0016036723001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $42,967,066
- Net assets (EOY)
- $42,967,066
- Net assets (BOY)
- $36,506,591
Income & contributions
- Employer contributions
- $973,459
- Participant contributions
- $1,954,217
- Total contributions
- $4,085,129
- Total income / additions
- $10,074,226
Expenses & distributions
- Benefits paid
- $3,528,674
- Administrative expenses
- $79,479
- Total expenses
- $3,613,751
- Net increase / (decrease)
- $6,460,475
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Empower Annuity Insurance Company O | RECORDKEEPER | $67,011 | not reported in the loaded dataset | 2023 |
| Morgan Stanley | INVESTMENT ADVISOR | $42,783 | not reported in the loaded dataset | 2023 |
| Metro Benefits, Inc. | CONTRACT ADMIN | $8,134 | $5,846 | 2023 |
| Baker Tilly Virchow Krause, Llp | AUDITOR DER | $13,005 | not reported in the loaded dataset | 2023 |
| Empower Advisory Group, LLC | INVESTMENT MANAGEMENT | $2,994 | not reported in the loaded dataset | 2023 |
| Morgan Stanley | OTHER | $48 | not reported in the loaded dataset | 2023 |
Related Form 5500 pages
- All Form 5500 plans for Summit Financial Group, Inc.
- 2023 Form 5500 filing
- Form 5500 filings in WV
- 401(k) and benefit plan filings in Moorefield, WV
- Empower Annuity Insurance Company O — Schedule C compensation
- Morgan Stanley — Schedule C compensation
- Metro Benefits, Inc. — Schedule C compensation
- Baker Tilly Virchow Krause, Llp — Schedule C compensation
- Empower Advisory Group, LLC — Schedule C compensation