Summus Group LLC 401(k) Review & Grade
Summus 401(k) Plan
Mundelein, ILManufacturing568 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,391Employer $ per active participant
$5,653Employee $ saved per active participant
0.39%Direct admin cost, % of plan assets
$52.5MNet plan assets, end of year
$85,704Average balance per account
Score breakdown
- Employer generosity25.8 / 5052th percentile for employer $ per participant
- Low cost7.8 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving9.1 / 1561th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 52th |
| Lower admin cost | 31th |
| Employee saving | 61th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Summus Group put in about $2,391 per active participant, more than the typical peer ($2,320). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.39% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $1,356,940 |
| Participant (employee) contributions | $3,207,995 |
| Other contributions (incl. rollovers in) | $992,667 |
| Administrative expenses paid from the plan | $197,801 |
| Investment advisory & management fees | $36,000 |
| Benefits paid out | $6,543,167 |
| Net assets, start / end of year | $48.4M / $52.5M |
| Active participants, start / end of year | 579 / 556 |
| Participants with account balances | 613 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cherry Bakaert LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $161,801 reported compensation |
| Global Retirement Partners LLC | $36,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014141046NAL0004186512001, received 2025-10-14, EIN 33-2576014, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.