Summit Credit Union401(k)
SUMMIT CREDIT UNION 401(K) PLAN AND TRUST · GREENSBORO, NC · plan year 2022
Peer grade: B · admin costs + employer contributions vs same-size plans · how grading works
Summit Credit Union reported $19,257 in plan administrative expenses for 2022: 0.54% of average plan assets, above the peer median. Employer contributions averaged $1,291 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
The plan sits in the $1M–$10M size bracket, benchmarked here against 30,021 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in North Carolina (1,641st of 2,005), and 4,582nd of 4,798 in finance & insurance. In 2022, employees put in $1.84 for every $1.00 the employer contributed.
Summit Credit Union's 2022 employer contribution ran above the $1,114 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2022 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 560432082 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.