401(k) · DOL Form 5500 · 2023

Summit Mortgage Corporation 401(k) Plan

Data updated 2026-08-25

$17M
Total assets Small plan by assets
181
Participants Below avg headcount
69th
Percentile by assets National rank
$92,270
Avg per participant Below avg balance/head
PlainRetire home → About this data RSS: change history

Official DOL plan name: Summit Mortgage 401(k) Retirement Plan · Sponsored by Summit Mortgage Corporation · Minnesota · Finance & Insurance

$17M in assets, 181 participants

Summit Mortgage Corporation's Summit Mortgage 401(k) Retirement Plan reported $17M in total assets and 181 participants in its 2023 DOL Form 5500 filing, ranking in the 69th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #4,870 in Finance & Insurance (8,869 peers)

Coverage in Minnesota

Summit Mortgage 401(k) Retirement Plan covers 181 participants in Minnesota, about 16% of the average Minnesota filer (state average ~1,126 per filing). Assets: $17M.

#4,870
in Finance & Insurance (8,869 peers)
+4.3%
assets growth YoY

Summit Mortgage 401(k) Retirement Plan's outsized position by total assets

Summit Mortgage 401(k) Retirement Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$16,700,794 Top 31% higher than 69% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Summit Mortgage 401(k) Retirement Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Summit Mortgage 401(k) Retirement Plan sits mid-pack in the medium band (181 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Summit Mortgage 401(k) Retirement Plan reported net income rose from -$4M in the plan year 2022 filing to $729K in the plan year 2023 filing.
  • Summit Mortgage 401(k) Retirement Plan reported participants fell from 216 in the plan year 2022 filing to 181 in the plan year 2023 filing.
  • Summit Mortgage 401(k) Retirement Plan end-of-year assets rose from $16M in the plan year 2022 filing to $17M in the plan year 2023 filing.

See the national 2022→2023 release diff →

Form 5500 schedule snapshot

Filing strip 411726353 · Summit Mortgage Corporation PY 2023 · 401(k)

Summit Mortgage 401(k) Retirement Plan · $17M · 181 · 69th

  • EBSA $17M
  • EBSA 181
  • EBSA 69th
  • EBSA 401(k)
  • EBSA near Great American Restaurants Profit Sharing Plan
  • EBSA ind #4870

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in Minnesota →

Summit Mortgage 401(k) Retirement Plan in the asset neighbourhood

Summit Mortgage 401(k) Retirement PlanSummit Mortgage 401(k) Retir…$17MGreat American Restaurants Profit Sharing PlanGreat American Restaurants P…$17MContainer Supply Company 401(k) Profit Sharing PlanContainer Supply Company 401…$17MPrecision Concepts International LLCPrecision Concepts Internati…$17MNorkol, Inc. Profit Sharing and Savings PlanNorkol, Inc. Profit Sharing …$17M
End-of-year total assets ($M) among Summit Mortgage 401(k) Retirement Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Minnesota filing particulars

Total Assets (Beginning of Year)$16M
Net Assets (End of Year)$17M
Net Income$729K
Employer EIN411726353
Plan Effective Date1993-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Summit Mortgage Corporation)

Sponsor-wide plan assets over time

All Summit Mortgage Corporation plans reported in each filing year

Latest sponsor-wide plan assets
$18M 10.92433022023057% vs 2022
2024 filing year
$15M$16M$17M$18M 202220232024 $16M $17.8M ▲ +10.9%
Year Plans Participants Total Assets
2022 1 216 $16M
2023 1 181 $17M
2024 1 153 $18M

Nearby 401(k) Plans in Minnesota

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Summit Mortgage 401(k) Retirement Plan vs. nearby 401(k) plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -1000000100000200000300000400000500000 -50510152025 Total assets ($B) Participants Summit Mortgage 401(k) Retirement Plan, Total assets ($B): 0.016700794 · Participants: 181Summit Mortgage 401(k) Retirement PlanUnitedhealth Group 401(k) Savings Plan, Total assets ($B): 22.432100178 · Participants: 198972Unitedhealth Group 401(k) Savings PlanTarget Corporation 401(k) Plan, Total assets ($B): 13.008265857 · Participants: 432617Target Corporation 401(k) PlanMedtronic Savings and Investment Plan, Total assets ($B): 12.931979 · Participants: 44342Medtronic Savings and Investment Plan3M Voluntary Investment Plan and Employee Stock Ownership Plan, Total assets ($B): 12.04661588 · Participants: 360493M Voluntary Investment Plan and Employee Stock Ownership PlanU.S. Bank 401(k) Savings Plan, Total assets ($B): 10.271161911 · Participants: 75272U.S. Bank 401(k) Savings Plan
Summit Mortgage 401(k) Retirement Plan vs. nearby 401(k) plans in Minnesota, assets vs. participants
Compare Summit Mortgage 401(k) Retirement Plan side-by-side with 3 peers →

Summit Mortgage 401(k) Retirement Plan's out-of-state 401(k) peers by assets and headcount

Outside Minnesota, the nearest 401(k) by assets is Great American Restaurants Profit Sharing Plan in VA ($17M); by covered participants it is Pyromation, Inc. 401(k) Plan in IN (181 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (181 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Summit Mortgage 401(k) Retirement Plan assets move in 2023? ▼
Summit Mortgage 401(k) Retirement Plan edged up modestly - up 4.3% during 2023, from $16M to $17M. Reported net income was $729K.
How have Summit Mortgage Corporation plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Summit Mortgage Corporation's sponsor-wide assets grew 10.9%, from $16M to $18M.
Which 401(k) plans are similar in size to Summit Mortgage 401(k) Retirement Plan? ▼
Among 401(k) plans in other states, the closest by assets is Great American Restaurants Profit Sharing Plan in VA ($17M, 879 participants).
Which 401(k) plans cover a similar participant headcount to Summit Mortgage 401(k) Retirement Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Pyromation, Inc. 401(k) Plan in IN (181 participants, N/A in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 411726353.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.