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BEACON WEALTH CONSULTANTS, INC. 401(K) PLAN 401k Plan overview

Plan NameBEACON WEALTH CONSULTANTS, INC. 401(K) PLAN
Plan identification number 001

BEACON WEALTH CONSULTANTS, INC. 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

BEACON WEALTH CONSULTANTS, INC. has sponsored the creation of one or more 401k plans.

Company Name:BEACON WEALTH CONSULTANTS, INC.
Employer identification number (EIN):203733238
NAIC Classification:523900

Additional information about BEACON WEALTH CONSULTANTS, INC.

Jurisdiction of Incorporation: Virginia Secretary of State
Incorporation Date: 2005-10-26
Company Identification Number: 0646882
Legal Registered Office Address: 324 WASHINGTON AVE SW
PO BOX 74
ROANOKE
United States of America (USA)
24016

More information about BEACON WEALTH CONSULTANTS, INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BEACON WEALTH CONSULTANTS, INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01RICHARD S. LAYMON, JR2024-07-23 RICHARD S. LAYMON, JR2024-07-23
0012022-01-01RICHARD S. LAYMON, JR2023-09-18 RICHARD S. LAYMON, JR2023-09-18
0012021-01-01RICHARD S. LAYMON, JR2022-08-26
0012020-01-01RICHARD S. LAYMON, JR2021-07-28
0012019-01-01RICHARD S. LAYMON, JR2020-05-22 RICHARD S. LAYMON, JR2020-05-22
0012018-01-01RICHARD S. LAYMON, JR2019-07-20

Financial Data on BEACON WEALTH CONSULTANTS, INC. 401(K) PLAN

Measure Date Value
2025 : BEACON WEALTH CONSULTANTS, INC. 401(K) PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-07-030
Total expenses incurred by plan in this plan year2025-07-033247
Net assets as of the end of the plan year2025-07-03959325
Total assets as of the beginning of the plan year2025-07-03752993
Value of plan covered by a fidelity bond2025-07-03110000
Participant contributions to plan in this plan year2025-07-03103145
Other contributions to plan in this plan year2025-07-030
Other income to plan in this plan year2025-07-0377318
Plan net income in this plan year2025-07-03206332
Net assets as of the end of the plan year2025-07-03959325
Net assets as of the beginning of the plan year2025-07-03752993
Employer contributions to plan in this plan year2025-07-0329116
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-033247
2024 : BEACON WEALTH CONSULTANTS, INC. 401(K) PLAN 2024 401k financial data
Total transfers to/from plan in this plan year2024-07-230
Total expenses incurred by plan in this plan year2024-07-233221
Net assets as of the end of the plan year2024-07-23752993
Total assets as of the beginning of the plan year2024-07-23513634
Value of plan covered by a fidelity bond2024-07-2340000
Participant contributions to plan in this plan year2024-07-2387053
Other contributions to plan in this plan year2024-07-2329002
Other income to plan in this plan year2024-07-2398828
Plan net income in this plan year2024-07-23239359
Net assets as of the end of the plan year2024-07-23752993
Net assets as of the beginning of the plan year2024-07-23513634
Employer contributions to plan in this plan year2024-07-2327697
Expensese paid to adminstrative service provicers from plan in this plan year2024-07-233221

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