Defined Benefit (Pension) · DOL Form 5500 · 2023

Summit Credit Union Pension Plan

Data updated 2026-08-25

$8M
Total assets Small plan by assets
100
Participants Small participant base
54th
Percentile by assets National rank
$80,115
Avg per participant Below avg balance/head
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Official DOL plan name: Summit Credit Union Defined Benefit Plan and Trust · Sponsored by Summit Credit Union · North Carolina · Finance & Insurance

$8M in assets, 100 participants

Summit Credit Union's Summit Credit Union Defined Benefit Plan and Trust reported $8M in total assets and 100 participants in its 2023 DOL Form 5500 filing, ranking in the 54th 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.

  • #3,450 in Finance & Insurance (8,869 peers)

Coverage in North Carolina

Summit Credit Union Defined Benefit Plan and Trust covers 100 participants in North Carolina, about 12% of the average North Carolina filer (state average ~819 per filing). Assets: $8M.

#3,450
in Finance & Insurance (8,869 peers)
+15.2%
assets growth YoY

Summit Credit Union Defined Benefit Plan and Trust's mid-pack asset rank among Finance & Insurance and all filers

Summit Credit Union Defined Benefit Plan and Trust vs every filed plan by assets

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

$8,011,538 Top 46% higher than 54% 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 Credit Union Defined Benefit Plan and Trust among smaller filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Summit Credit Union Defined Benefit Plan and Trust is a small filing (100 participants) on this national headcount ladder.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Summit Credit Union Defined Benefit Plan and Trust reported net income rose from $821K in the plan year 2022 filing to $1M in the plan year 2023 filing.
  • Summit Credit Union Defined Benefit Plan and Trust end-of-year assets rose from $7M in the plan year 2022 filing to $8M in the plan year 2023 filing.
  • Summit Credit Union Defined Benefit Plan and Trust reported participants rose from 95 in the plan year 2022 filing to 100 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Published 5500 schedule card

Filing strip 560432082 · Summit Credit Union PY 2023 · Defined Benefit (Pension)

Summit Credit Union Defined Benefit Plan and Trust · $8M · 100 · 54th

  • PART $8M
  • TYPE 100
  • NET 54th
  • BOOK Defined Benefit (Pension)
  • VS-ST near The Maersk Inc. Marine Clerks Association Pension Plan
  • BOY ind #3450

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 North Carolina →

Summit Credit Union Defined Benefit Plan and Trust in the asset neighbourhood

North American Production Sharing, Inc. Defined Benefit Pension PlanNorth American Production Sh…$8MProduction Workers Pension FundProduction Workers Pension F…$8MSummit Credit Union Defined Benefit Plan and TrustSummit Credit Union Defined …$8MThe Maersk Inc. Marine Clerks Association Pension PlanThe Maersk Inc. Marine Clerk…$8MHonigman LLP Pension Plan$8M
End-of-year total assets ($M) among Summit Credit Union Defined Benefit Plan and Trust and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

North Carolina filing particulars

Total Assets (Beginning of Year)$7M
Net Assets (End of Year)$8M
Net Income$1M
Employer EIN560432082
Plan Effective Date1986-08-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Summit Credit Union)

Sponsor-wide plan assets over time

All Summit Credit Union plans reported in each filing year

Latest sponsor-wide plan assets
$9M 15.793992690522915% vs 2022
2024 filing year
$7M$8M$9M$10M$11M 202220232024 $10.1M $8.51M ▼ -15.7%
Year Plans Participants Total Assets
2022 2 197 $10M
2023 1 100 $8M
2024 1 101 $9M

Nearby Defined Benefit (Pension) Plans in North Carolina

Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.

Summit Credit Union Defined Benefit Plan and Trust vs. nearby Defined Benefit (Pension) plans in North Carolina, assets vs. participants Scatter plot of 6 data points. -200000200004000060000 -505101520 Total assets ($B) Participants Summit Credit Union Defined Benefit Plan and Trust, Total assets ($B): 0.008011538 · Participants: 100Summit Credit Union Defined Benefit Plan and TrustHoneywell Retirement Earnings Plan, Total assets ($B): 16.613752395 · Participants: 11145Honeywell Retirement Earnings PlanTruist Financial Corporation Pension Plan, Total assets ($B): 14.582387965 · Participants: 45818Truist Financial Corporation Pension PlanDuke Energy Retirement Cash Balance Plan, Total assets ($B): 4.0264 · Participants: 14485Duke Energy Retirement Cash Balance PlanDuke Energy Legacy Pension Plan, Total assets ($B): 3.3721 · Participants: 371Duke Energy Legacy Pension PlanEmployees' Retirement Plan of Duke University, Total assets ($B): 2.616859519 · Participants: 21020Employees' Retirement Plan of Duke University
Summit Credit Union Defined Benefit Plan and Trust vs. nearby Defined Benefit (Pension) plans in North Carolina, assets vs. participants
Compare Summit Credit Union Defined Benefit Plan and Trust side-by-side with 3 peers →

Summit Credit Union Defined Benefit Plan and Trust's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside North Carolina, the nearest Defined Benefit (Pension) by assets is The Maersk Inc. Marine Clerks Association Pension Plan in NJ ($8M); by covered participants it is Pension Plan for Classified Employees of Gasco, Inc. in HI (100 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (100 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 Credit Union Defined Benefit Plan and Trust assets move in 2023? ▼
Summit Credit Union Defined Benefit Plan and Trust grew sharply - up 15.2% during 2023, from $7M to $8M. Reported net income was $1M.
How have Summit Credit Union plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Summit Credit Union's sponsor-wide assets declined 15.8%, from $10M to $9M.
Which Defined Benefit (Pension) plans are similar in size to Summit Credit Union Defined Benefit Plan and Trust? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is The Maersk Inc. Marine Clerks Association Pension Plan in NJ ($8M, 6 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Summit Credit Union Defined Benefit Plan and Trust? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Pension Plan for Classified Employees of Gasco, Inc. in HI (100 participants, $42M 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 560432082.

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.