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SUMMIT INDUSTRIAL CONSTRUCTION, LLC

SUMMIT INDUSTRIAL CONSTRUCTION, LLC PROFIT SHARING 401(K) PLAN · For the plan year ended Dec 31, 2023

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Public filing 2023 · received Jun 25, 2024Verified current terms Not available

Plan at a glance

How good does the filing look?

20filing comparison
out of 100

The filing trails many comparable plans on reported employer support and/or plan-paid administrative costs. This is a filing comparison, not a complete benefits score.

$Employer support
$510

Reported employer contributions per active participant.

Higher than about 6% of comparable plans
#People in the filing
431

Active participants reported for 2023.

The filing does not say how many employees are currently contributing.
¢Visible plan-paid fees
$154 / participant

Reported administrative expense—not every fee an employee may pay.

Lower cost than about 53% of comparable plans
↗Investment performance
Not available

Plan assets changed 55.2%, but that includes contributions, withdrawals, and market movement.

Asset change is not investment performance.
What we still need to judge the benefit

Current match formula, vesting, eligibility, investment choices, fund expense ratios, and employee-level fees.

See missing terms ↓
Filing comparison · 202320out of 100 among similar-size plans in the same industry when enough peers exist

How this filing compares

Reported employer contributions6th percentileTypical peer $2,223 · based on 394 comparable plans
Lower reported administrative expense53rd percentileTypical peer $164 · based on 405 comparable plans

This comparison uses historical filing figures. It does not compare current match formulas, vesting, investments, or employee fees.

The short version

What the latest filing tells us

For the plan year ended Dec 31, 2023, SUMMIT INDUSTRIAL CONSTRUCTION, LLC reported $219,760 in employer contributions across the plan and 431 active participants. That works out to $510 per active participant. It is useful context, but it is not the current match formula and it does not show what any one employee received.

Participation proxy75%

Active participants divided by all end-of-year plan participants. This is not the company participation rate because the filing does not report every eligible employee.

Employer money trendDown 10.8%

Change in reported employer contribution per active participant across the filing history shown.

Expense trendDown 32.1%

Change in reported administrative expense per participant. Investment expenses may not be included.

Peer context20/100

A filing comparison among similar-size plans in the same industry when enough peers exist.

Where the public filing stops

Current match, vesting, eligibility, employee fees, and investment choices require a dated plan document. Until we have one, those details stay blank.

Latest financial record

Contributions, assets, and expenses

These figures are reported totals for the plan—not individual account balances or promises to any employee.

Employer contributions
$219,760
Participant contributions
$1,174,611
Other contributions
$528,848
Employer share of reported contributions
15.8%
Beginning assets
$3,610,436
Ending assets
$5,602,877
Ending net assets
$5,602,877
Ending liabilities
$0
Total income
$2,691,371
Total expenses
$698,930
Administrative expenses
$62,498
Participant loans
$111,731

Three-year filing history

How the reported figures changed

Each chart uses its own scale and starts at zero. When the filing has no value, the chart says so rather than turning it into a zero.

Employer contributions reported per active participant
2022
$572
2023
$510
Plan-paid administrative expenses per participant
2022
$227
2023
$154
Active participants
2022
289
2023
431
Detailed filing history
Plan yearPer active participantActive participantsPlan assetsFiling ID
2023$5104315.6M20240625142732NAL0007494417001
2022$5722893.6M20230630152549NAL0011727792001

Changes in plan assets are not the same as investment performance. Each row uses the selected public filing for that year.

Plan operations

Details worth knowing

Participant loans as a share of plan assets
2.0%
Independent accountant’s opinion
Unqualified opinion Code 1
Late participant contributions reported
Not stated in the filing
Public plan identifier
452831413-001

Reported plan details

Identity and filing status

Plan type
Retirement plan
Employer arrangement
Single-employer plan
Plan effective date
Jan 1, 2012
Industry
Construction
Amended filing
No
Final filing for this plan
No
Short plan year
No
401(k) feature reported
Yes
Show DOL characteristic codes2E2F2G2J2K2S2T3D

Current plan terms

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Filing ACK_ID20240625142732NAL0007494417001
Data sourceDOL Form 5500 bulk data ↗
Filing searchEFAST2 ↗