Summit Credit Union 401(k) match, vesting and fees
What Summit Credit Union's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Cmfg Life Insurance Company | Schedule C ↗ |
| Independent auditor | Cliftonlarsonallen LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 673 defined-contribution plans in finance and insurance with 1,000 to 4,999 participants.
| Summit Credit Union: employer contribution per participant | $4,451 | |
| Peer median | $2,966 |
| Summit Credit Union: average balance | $95,315 | |
| Peer median | $104,792 |
| Summit Credit Union: admin expenses ÷ assets | 0.13% | |
| Peer median | 0.10% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $106M at the end of plan year 2023 to $117M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 1,231 | $117M | $5.5M | $4,451 | 0.13% | Not published | Form 5500 ↗ |
| 2023 | 1,284 | $106M | $5.2M | $4,039 | 0.24% | Not published | Form 5500 ↗ |
Other Summit Credit Union plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Summit Credit Union Retirement Pension Plan
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Cmfg Life Insurance Company | Schedule C ↗ |
| Independent auditor | Cliftonlarsonallen (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Active | Form 5500 ↗ |
Common questions
Does Summit Credit Union match 401(k) contributions?
The match terms for the Summit Credit Union Capital Accumulation Plan have not been published from its filing yet. The plan year 2024 filing reports $5.5M in employer contributions, about $4,451 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Summit Credit Union 401(k) match vested?
The vesting schedule for the Summit Credit Union Capital Accumulation Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Summit Credit Union 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Cmfg Life Insurance Company. The plan administrator is Summit Credit Union.
I left Summit Credit Union. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Summit Credit Union, (608) 243-5000) or the recordkeeper, Cmfg Life Insurance Company. The Summit Credit Union old 401(k) page lists the contacts from every plan filing. Find an old Summit Credit Union 401(k)
Data from the public Form 5500 annual reports Summit Credit Union filed with the U.S. Department of Labor (plan years 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Summit Credit Union. Not financial advice. Report a correction · Methodology