401(k) · DOL Form 5500 · 2023

Summit Financial Group, Inc. 401(k) Plan

Data updated 2026-08-25

$43M
Total assets Below avg plan size
437
Participants Below avg headcount
84th
Percentile by assets National rank
$98,323
Avg per participant Below avg balance/head
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Official DOL plan name: Summit Financial Group, Inc. Defined Contribution Plan · Sponsored by Summit Financial Group, Inc. · West Virginia · Management of Enterprises

$43M in assets, 437 participants

Summit Financial Group, Inc.'s Summit Financial Group, Inc. Defined Contribution Plan reported $43M in total assets and 437 participants in its 2023 DOL Form 5500 filing, ranking in the 84th 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.

  • #742 in Management of Enterprises (1,137 peers)

Where Summit Financial Group, Inc. Defined Contribution Plan sits by assets

Summit Financial Group, Inc. Defined Contribution Plan sits in the top quartile of all filed plans by assets, $43M for 437 participants (~$98,323/participant), up 17.7% in 2023.

#742
in Management of Enterprises (1,137 peers)
+17.7%
assets growth YoY
0.4×
vs typical plan assets (national mean)

Summit Financial Group, Inc. Defined Contribution Plan's outsized position by total assets

Summit Financial Group, Inc. Defined Contribution Plan vs every filed plan by assets

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

$42,967,066 Top 16% higher than 84% 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 Financial Group, Inc. Defined Contribution 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 Financial Group, Inc. Defined Contribution Plan sits mid-pack in the medium band (437 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Summit Financial Group, Inc. Defined Contribution Plan reported net income rose from -$4M in the plan year 2022 filing to $6M in the plan year 2023 filing.
  • Summit Financial Group, Inc. Defined Contribution Plan end-of-year assets rose from $37M in the plan year 2022 filing to $43M in the plan year 2023 filing.
  • Summit Financial Group, Inc. Defined Contribution Plan reported participants rose from 432 in the plan year 2022 filing to 437 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Form 5500 schedule snapshot

Filing strip 550672148 · Summit Financial Group, Inc. PY 2023 · 401(k)

Summit Financial Group, Inc. Defined Contribution Plan · $43M · 437 · 84th

  • EOY $43M
  • EOY 437
  • EOY 84th
  • EOY 401(k)
  • EOY near Sai Consulting Engineers, Inc. 401(k) Rs Plan
  • EOY ind #742

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 Management of Enterprises retirement plans → · Plans in West Virginia →

Summit Financial Group, Inc. Defined Contribution Plan in the asset neighbourhood

Summit Financial Group, Inc. Defined Contribution PlanSummit Financial Group, Inc.…$43MSai Consulting Engineers, Inc. 401(k) Rs PlanSai Consulting Engineers, In…$43ME. J. Harrison & Sons, Inc. & Affiliated Employers Profit Sharing 401(k) PlanE. J. Harrison & Sons, Inc. …$43MRestaurant Services, Inc. 401(k) Employee Savings PlanRestaurant Services, Inc. 40…$43MGreat Lakes Physician, P.C. 401(k) PlanGreat Lakes Physician, P.C. …$43M
End-of-year total assets ($M) among Summit Financial Group, Inc. Defined Contribution Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$37M
Net Assets (End of Year)$43M
Net Income$6M
Employer EIN550672148
Plan Effective Date1974-12-31
Filing StatusFILING RECEIVED

Sponsor Plan History (Summit Financial Group, Inc.)

Sponsor-wide plan assets over time

All Summit Financial Group, Inc. plans reported in each filing year

Latest sponsor-wide plan assets
$389K 99.23763653215958% vs 2022
2024 filing year
$0M$20M$40M$60M$80M 202220232024 $51M $0.39M ▼ -99.2%
Year Plans Participants Total Assets
2022 2 782 $51M
2023 2 806 $62M
2024 1 358 $389K

Nearby 401(k) Plans in West Virginia

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

Summit Financial Group, Inc. Defined Contribution Plan vs. nearby 401(k) plans in West Virginia, assets vs. participants Scatter plot of 6 data points. -200002000400060008000 -0.500.511.5 Total assets ($B) Participants Summit Financial Group, Inc. Defined Contribution Plan, Total assets ($B): 0.042967066 · Participants: 437Summit Financial Group, Inc. Defined Contribution PlanOrrick, Herrington & Sutcliffe LLP Retirement Plan, Total assets ($B): 1.063431645 · Participants: 1878Orrick, Herrington & Sutcliffe LLP Retirement PlanCamc Health System Basic Retirement Plan, Total assets ($B): 0.718819432 · Participants: 0Camc Health System Basic Retirement PlanAmerican Public Education Retirement Plan, Total assets ($B): 0.259281173 · Participants: 5728American Public Education Retirement PlanWest Virginia University Health System 401(k) Plan, Total assets ($B): 0.255241932 · Participants: 2525West Virginia University Health System 401(k) PlanUnited Bankshares, Inc. Savings and Stock Investment Plan, Total assets ($B): 0.227919168 · Participants: 2740United Bankshares, Inc. Savings and Stock Investment Plan
Summit Financial Group, Inc. Defined Contribution Plan vs. nearby 401(k) plans in West Virginia, assets vs. participants
Compare Summit Financial Group, Inc. Defined Contribution Plan side-by-side with 3 peers →

Summit Financial Group, Inc. Defined Contribution Plan's out-of-state 401(k) peers by assets and headcount

Outside West Virginia, the nearest 401(k) by assets is Sai Consulting Engineers, Inc. 401(k) Rs Plan in PA ($43M); by covered participants it is Integrated Practice Solutions, Inc. 401(k) Plan in CA (437 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (437 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 Financial Group, Inc. Defined Contribution Plan assets move in 2023? ▼
Summit Financial Group, Inc. Defined Contribution Plan grew sharply - up 17.7% during 2023, from $37M to $43M. Reported net income was $6M.
How have Summit Financial Group, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Summit Financial Group, Inc.'s sponsor-wide assets declined 99.2%, from $51M to $389K.
Where does Summit Financial Group, Inc. Defined Contribution Plan rank by assets among Form 5500 filers? ▼
Summit Financial Group, Inc. Defined Contribution Plan ranks in the 84th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top quartile of all filed plans by assets).
Which 401(k) plans are similar in size to Summit Financial Group, Inc. Defined Contribution Plan? ▼
Among 401(k) plans in other states, the closest by assets is Sai Consulting Engineers, Inc. 401(k) Rs Plan in PA ($43M, 131 participants).
Which 401(k) plans cover a similar participant headcount to Summit Financial Group, Inc. Defined Contribution Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Integrated Practice Solutions, Inc. 401(k) Plan in CA (437 participants, $15M 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 550672148.

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.