401k Plan data: FACTION INC. 401(K) PLAN plan

FACTION INC. 401(K) PLAN 401k Plan overview

Plan Name	FACTION INC. 401(K) PLAN
Plan identification number	001

FACTION INC. 401(K) PLAN Benefits

401k Plan Type

Defined 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.
Plan covering Self-Employed individuals.
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.
Plan sponsor(s) received services of leased employees, as defined in Code section 414(n), during the plan year.

401k Sponsoring company profile

THE FACTION GROUP LLC has sponsored the creation of one or more 401k plans.

Company Name: THE FACTION GROUP LLC

Employer identification number (EIN): 205117645

NAIC Classification: 541511
NAIC Description: Custom Computer Programming Services

Additional information about THE FACTION GROUP LLC

Jurisdiction of Incorporation: Florida Department of State Division of Corporations

Incorporation Date: 1999-10-07

Company Identification Number: P99000089811

Legal Registered Office Address: 2117 HOLLYWOOD BLVD., STE. 4

HOLLYWOOD

33020

More information about THE FACTION GROUP LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FACTION INC. 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
001 2022-01-01
001 2021-01-01
001 2020-01-01
001 2019-01-01 PHIL TISUE 2020-07-07
001 2018-01-01 PHIL TISUE 2019-10-03
001 2018-01-01 PHIL TISUE 2020-06-26
001 2017-01-01 PHIL TISUE 2018-10-05
001 2016-01-01 PHIL TISUE 2017-10-11
001 2015-01-01 PHIL TISUE 2016-09-29

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
001	2022-01-01
001	2021-01-01
001	2020-01-01
001	2019-01-01	PHIL TISUE	2020-07-07
001	2018-01-01	PHIL TISUE	2019-10-03
001	2018-01-01	PHIL TISUE	2020-06-26
001	2017-01-01	PHIL TISUE	2018-10-05
001	2016-01-01	PHIL TISUE	2017-10-11
001	2015-01-01	PHIL TISUE	2016-09-29

Plan Statistics for FACTION INC. 401(K) PLAN

401k plan membership statisitcs for FACTION INC. 401(K) PLAN

Measure Date Value
2022: FACTION INC. 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year 2022-01-01 120
Total number of active participants reported on line 7a of the Form 5500 2022-01-01 74
Number of retired or separated participants receiving benefits 2022-01-01 0
Number of other retired or separated participants entitled to future benefits 2022-01-01 47
Total of all active and inactive participants 2022-01-01 121
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2022-01-01 0
Total participants 2022-01-01 121
Number of participants with account balances 2022-01-01 102
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2022-01-01 0
2021: FACTION INC. 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year 2021-01-01 105
Total number of active participants reported on line 7a of the Form 5500 2021-01-01 94
Number of retired or separated participants receiving benefits 2021-01-01 0
Number of other retired or separated participants entitled to future benefits 2021-01-01 26
Total of all active and inactive participants 2021-01-01 120
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2021-01-01 0
Total participants 2021-01-01 120
Number of participants with account balances 2021-01-01 99
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2021-01-01 0
2020: FACTION INC. 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year 2020-01-01 112
Total number of active participants reported on line 7a of the Form 5500 2020-01-01 86
Number of retired or separated participants receiving benefits 2020-01-01 0
Number of other retired or separated participants entitled to future benefits 2020-01-01 19
Total of all active and inactive participants 2020-01-01 105
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2020-01-01 0
Total participants 2020-01-01 105
Number of participants with account balances 2020-01-01 87
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2020-01-01 0

Measure	Date	Value
2022: FACTION INC. 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year	2022-01-01	120
Total number of active participants reported on line 7a of the Form 5500	2022-01-01	74
Number of retired or separated participants receiving benefits	2022-01-01	0
Number of other retired or separated participants entitled to future benefits	2022-01-01	47
Total of all active and inactive participants	2022-01-01	121
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2022-01-01	0
Total participants	2022-01-01	121
Number of participants with account balances	2022-01-01	102
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2022-01-01	0
2021: FACTION INC. 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year	2021-01-01	105
Total number of active participants reported on line 7a of the Form 5500	2021-01-01	94
Number of retired or separated participants receiving benefits	2021-01-01	0
Number of other retired or separated participants entitled to future benefits	2021-01-01	26
Total of all active and inactive participants	2021-01-01	120
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2021-01-01	0
Total participants	2021-01-01	120
Number of participants with account balances	2021-01-01	99
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2021-01-01	0
2020: FACTION INC. 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year	2020-01-01	112
Total number of active participants reported on line 7a of the Form 5500	2020-01-01	86
Number of retired or separated participants receiving benefits	2020-01-01	0
Number of other retired or separated participants entitled to future benefits	2020-01-01	19
Total of all active and inactive participants	2020-01-01	105
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2020-01-01	0
Total participants	2020-01-01	105
Number of participants with account balances	2020-01-01	87
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2020-01-01	0

Financial Data on FACTION INC. 401(K) PLAN

Measure	Date	Value
2022 : FACTION INC. 401(K) PLAN 2022 401k financial data
Transfers to/from the plan	2022-12-31	$0
Total plan liabilities at end of year	2022-12-31	$0
Total plan liabilities at beginning of year	2022-12-31	$0
Total income from all sources	2022-12-31	$8,344
Expenses. Total of all expenses incurred	2022-12-31	$648,511
Benefits paid (including direct rollovers)	2022-12-31	$603,559
Total plan assets at end of year	2022-12-31	$5,592,156
Total plan assets at beginning of year	2022-12-31	$6,232,323
Value of fidelity bond covering the plan	2022-12-31	$500,000
Total contributions received or receivable from participants	2022-12-31	$766,290
Expenses. Other expenses not covered elsewhere	2022-12-31	$0
Contributions received from other sources (not participants or employers)	2022-12-31	$34,424
Other income received	2022-12-31	$-1,132,957
Noncash contributions received	2022-12-31	$0
Net income (gross income less expenses)	2022-12-31	$-640,167
Net plan assets at end of year (total assets less liabilities)	2022-12-31	$5,592,156
Net plan assets at beginning of year (total assets less liabilities)	2022-12-31	$6,232,323
Assets. Value of participant loans	2022-12-31	$116,697
Total contributions received or receivable from employer(s)	2022-12-31	$340,587
Value of certain deemed distributions of participant loans	2022-12-31	$8,321
Value of corrective distributions	2022-12-31	$0
Expenses. Administrative service providers (salaries,fees and commissions)	2022-12-31	$36,631
2021 : FACTION INC. 401(K) PLAN 2021 401k financial data
Transfers to/from the plan	2021-12-31	$0
Total plan liabilities at end of year	2021-12-31	$0
Total plan liabilities at beginning of year	2021-12-31	$0
Total income from all sources	2021-12-31	$2,141,709
Expenses. Total of all expenses incurred	2021-12-31	$524,145
Benefits paid (including direct rollovers)	2021-12-31	$490,994
Total plan assets at end of year	2021-12-31	$6,232,323
Total plan assets at beginning of year	2021-12-31	$4,614,759
Value of fidelity bond covering the plan	2021-12-31	$500,000
Total contributions received or receivable from participants	2021-12-31	$770,592
Expenses. Other expenses not covered elsewhere	2021-12-31	$0
Contributions received from other sources (not participants or employers)	2021-12-31	$239,811
Other income received	2021-12-31	$753,254
Noncash contributions received	2021-12-31	$0
Net income (gross income less expenses)	2021-12-31	$1,617,564
Net plan assets at end of year (total assets less liabilities)	2021-12-31	$6,232,323
Net plan assets at beginning of year (total assets less liabilities)	2021-12-31	$4,614,759
Assets. Value of participant loans	2021-12-31	$107,555
Total contributions received or receivable from employer(s)	2021-12-31	$378,052
Value of certain deemed distributions of participant loans	2021-12-31	$0
Value of corrective distributions	2021-12-31	$0
Expenses. Administrative service providers (salaries,fees and commissions)	2021-12-31	$33,151
2020 : FACTION INC. 401(K) PLAN 2020 401k financial data
Transfers to/from the plan	2020-12-31	$0
Total plan liabilities at end of year	2020-12-31	$0
Total plan liabilities at beginning of year	2020-12-31	$0
Total income from all sources	2020-12-31	$2,240,735
Expenses. Total of all expenses incurred	2020-12-31	$198,226
Benefits paid (including direct rollovers)	2020-12-31	$182,878
Total plan assets at end of year	2020-12-31	$4,614,759
Total plan assets at beginning of year	2020-12-31	$2,572,250
Value of fidelity bond covering the plan	2020-12-31	$500,000
Total contributions received or receivable from participants	2020-12-31	$586,826
Expenses. Other expenses not covered elsewhere	2020-12-31	$0
Contributions received from other sources (not participants or employers)	2020-12-31	$776,343
Other income received	2020-12-31	$588,445
Noncash contributions received	2020-12-31	$0
Net income (gross income less expenses)	2020-12-31	$2,042,509
Net plan assets at end of year (total assets less liabilities)	2020-12-31	$4,614,759
Net plan assets at beginning of year (total assets less liabilities)	2020-12-31	$2,572,250
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-102	2020-12-31	$17,535
Total contributions received or receivable from employer(s)	2020-12-31	$289,121
Value of certain deemed distributions of participant loans	2020-12-31	$0
Value of corrective distributions	2020-12-31	$0
Expenses. Administrative service providers (salaries,fees and commissions)	2020-12-31	$15,348

Form 5500 Responses for FACTION INC. 401(K) PLAN

2022: FACTION INC. 401(K) PLAN 2022 form 5500 responses
2022-01-01	Type of plan entity	Single employer plan
2022-01-01	Submission has been amended	No
2022-01-01	This submission is the final filing	No
2022-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2022-01-01	Plan is a collectively bargained plan	No
2022-01-01	Plan funding arrangement – Trust	Yes
2022-01-01	Plan benefit arrangement - Trust	Yes
2021: FACTION INC. 401(K) PLAN 2021 form 5500 responses
2021-01-01	Type of plan entity	Single employer plan
2021-01-01	Submission has been amended	No
2021-01-01	This submission is the final filing	No
2021-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2021-01-01	Plan is a collectively bargained plan	No
2021-01-01	Plan funding arrangement – Trust	Yes
2021-01-01	Plan benefit arrangement - Trust	Yes
2020: FACTION INC. 401(K) PLAN 2020 form 5500 responses
2020-01-01	Type of plan entity	Single employer plan
2020-01-01	Submission has been amended	No
2020-01-01	This submission is the final filing	No
2020-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2020-01-01	Plan is a collectively bargained plan	No
2020-01-01	Plan funding arrangement – Insurance	Yes
2020-01-01	Plan funding arrangement – Trust	Yes
2020-01-01	Plan benefit arrangement – Insurance	Yes
2020-01-01	Plan benefit arrangement - Trust	Yes

Insurance Providers Used on plan

TRANSAMERICA LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 86231 )

Policy contract number

931061-861

Policy instance

Insurance contract or identification number	931061-861
Number of Individuals Covered	0
Insurance policy start date	2020-01-01
Insurance policy end date	2020-12-31
Total amount of commissions paid to insurance broker	USD $5,941
Are there contracts with allocated funds for individual policies?	0
Are there contracts with allocated funds for types other than group deferred annuity or individual?	No
Contracts With Unallocated Funds Deposit Administration	0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?	No
Are there contracts with unallocated funds for contracts of type guaranteed investment?	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	Yes
Health Insurance Welfare Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $5,941
Insurance broker organization code?	3

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Company Name:	THE FACTION GROUP LLC
Employer identification number (EIN):	205117645
NAIC Classification:	541511
NAIC Description:	Custom Computer Programming Services

Jurisdiction of Incorporation:	Florida Department of State Division of Corporations
Incorporation Date:	1999-10-07
Company Identification Number:	P99000089811
Legal Registered Office Address:	2117 HOLLYWOOD BLVD., STE. 4 HOLLYWOOD 33020