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IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 401k Plan overview

Plan NameIBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN
Plan identification number 001

IBEX IT BUSINESS EXPERTS, LLC 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.
  • 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

IBEX IT BUSINESS EXPERTS, LLC has sponsored the creation of one or more 401k plans.

Company Name:IBEX IT BUSINESS EXPERTS, LLC
Employer identification number (EIN):454741180
NAIC Classification:541600

Additional information about IBEX IT BUSINESS EXPERTS, LLC

Jurisdiction of Incorporation: Georgia Department of States Corporations Division
Incorporation Date:
Company Identification Number: 1704871

More information about IBEX IT BUSINESS EXPERTS, LLC

Form 5500 Filing Information

Submission information for form 5500 for 401k plan IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01CHRISTINE SVEOM CHRISTINE SVEOM2019-05-23
0012017-09-01CHRISTINE SVEOM

Plan Statistics for IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN

401k plan membership statisitcs for IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN

Measure Date Value
2022: IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01120
Total number of active participants reported on line 7a of the Form 55002022-01-0189
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0120
Total of all active and inactive participants2022-01-01109
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01109
Number of participants with account balances2022-01-0181
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-0183
Total number of active participants reported on line 7a of the Form 55002021-01-01109
Number of retired or separated participants receiving benefits2021-01-011
Number of other retired or separated participants entitled to future benefits2021-01-0113
Total of all active and inactive participants2021-01-01123
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01123
Number of participants with account balances2021-01-0181
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010
2020: IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-0175
Total number of active participants reported on line 7a of the Form 55002020-01-0179
Number of retired or separated participants receiving benefits2020-01-010
Number of other retired or separated participants entitled to future benefits2020-01-014
Total of all active and inactive participants2020-01-0183
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-0183
Number of participants with account balances2020-01-0155
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-010
2019: IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0160
Total number of active participants reported on line 7a of the Form 55002019-01-0160
Number of retired or separated participants receiving benefits2019-01-011
Number of other retired or separated participants entitled to future benefits2019-01-0114
Total of all active and inactive participants2019-01-0175
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0175
Number of participants with account balances2019-01-0154
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010
2018: IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2018 401k membership
Total participants, beginning-of-year2018-01-0117
Total number of active participants reported on line 7a of the Form 55002018-01-0154
Number of retired or separated participants receiving benefits2018-01-011
Number of other retired or separated participants entitled to future benefits2018-01-015
Total of all active and inactive participants2018-01-0160
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2018-01-010
Total participants2018-01-0160
Number of participants with account balances2018-01-0129
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2018-01-010
2017: IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2017 401k membership
Total participants, beginning-of-year2017-09-010
Total number of active participants reported on line 7a of the Form 55002017-09-0117
Number of retired or separated participants receiving benefits2017-09-010
Number of other retired or separated participants entitled to future benefits2017-09-010
Total of all active and inactive participants2017-09-0117
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-09-010
Total participants2017-09-0117
Number of participants with account balances2017-09-0112
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-09-010

Financial Data on IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN

Measure Date Value
2022 : IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2022 401k financial data
Total plan liabilities at end of year2022-12-31$1,410
Total plan liabilities at beginning of year2022-12-31$12,241
Total income from all sources2022-12-31$285,216
Expenses. Total of all expenses incurred2022-12-31$153,345
Benefits paid (including direct rollovers)2022-12-31$153,345
Total plan assets at end of year2022-12-31$1,321,106
Total plan assets at beginning of year2022-12-31$1,200,066
Value of fidelity bond covering the plan2022-12-31$385,000
Total contributions received or receivable from participants2022-12-31$250,142
Contributions received from other sources (not participants or employers)2022-12-31$24,889
Other income received2022-12-31$-206,802
Net income (gross income less expenses)2022-12-31$131,871
Net plan assets at end of year (total assets less liabilities)2022-12-31$1,319,696
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$1,187,825
Assets. Value of participant loans2022-12-31$52,693
Value of participant contributions where there was a failure to transmit these to the plan within the time period described in 29 CFR 2510.3-1022022-12-31$8
Total contributions received or receivable from employer(s)2022-12-31$216,987
2021 : IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2021 401k financial data
Total plan liabilities at end of year2021-12-31$12,241
Total plan liabilities at beginning of year2021-12-31$452
Total income from all sources2021-12-31$577,164
Expenses. Total of all expenses incurred2021-12-31$175,962
Benefits paid (including direct rollovers)2021-12-31$175,962
Total plan assets at end of year2021-12-31$1,200,066
Total plan assets at beginning of year2021-12-31$787,075
Value of fidelity bond covering the plan2021-12-31$385,000
Total contributions received or receivable from participants2021-12-31$210,863
Contributions received from other sources (not participants or employers)2021-12-31$54,521
Other income received2021-12-31$115,044
Net income (gross income less expenses)2021-12-31$401,202
Net plan assets at end of year (total assets less liabilities)2021-12-31$1,187,825
Net plan assets at beginning of year (total assets less liabilities)2021-12-31$786,623
Assets. Value of participant loans2021-12-31$38,798
Total contributions received or receivable from employer(s)2021-12-31$196,736
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
2020 : IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2020 401k financial data
Total plan liabilities at end of year2020-12-31$452
Total plan liabilities at beginning of year2020-12-31$18,942
Total income from all sources2020-12-31$459,693
Expenses. Total of all expenses incurred2020-12-31$123,260
Benefits paid (including direct rollovers)2020-12-31$123,238
Total plan assets at end of year2020-12-31$787,075
Total plan assets at beginning of year2020-12-31$469,132
Value of fidelity bond covering the plan2020-12-31$385,000
Total contributions received or receivable from participants2020-12-31$175,984
Expenses. Other expenses not covered elsewhere2020-12-31$22
Other income received2020-12-31$106,627
Net income (gross income less expenses)2020-12-31$336,433
Net plan assets at end of year (total assets less liabilities)2020-12-31$786,623
Net plan assets at beginning of year (total assets less liabilities)2020-12-31$450,190
Assets. Value of participant loans2020-12-31$12,571
Total contributions received or receivable from employer(s)2020-12-31$177,082
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2020-12-31$0
2019 : IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$18,942
Total plan liabilities at beginning of year2019-12-31$4,942
Total income from all sources2019-12-31$334,998
Expenses. Total of all expenses incurred2019-12-31$53,238
Benefits paid (including direct rollovers)2019-12-31$53,238
Total plan assets at end of year2019-12-31$469,132
Total plan assets at beginning of year2019-12-31$173,372
Value of fidelity bond covering the plan2019-12-31$385,000
Total contributions received or receivable from participants2019-12-31$118,460
Contributions received from other sources (not participants or employers)2019-12-31$31,705
Other income received2019-12-31$47,593
Net income (gross income less expenses)2019-12-31$281,760
Net plan assets at end of year (total assets less liabilities)2019-12-31$450,190
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$168,430
Assets. Value of participant loans2019-12-31$679
Total contributions received or receivable from employer(s)2019-12-31$137,240
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0
2018 : IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2018 401k financial data
Total plan liabilities at end of year2018-12-31$4,942
Total plan liabilities at beginning of year2018-12-31$0
Total income from all sources2018-12-31$155,484
Expenses. Total of all expenses incurred2018-12-31$9,027
Benefits paid (including direct rollovers)2018-12-31$9,027
Total plan assets at end of year2018-12-31$173,372
Total plan assets at beginning of year2018-12-31$21,973
Value of fidelity bond covering the plan2018-12-31$385,000
Total contributions received or receivable from participants2018-12-31$84,541
Other income received2018-12-31$-9,020
Net income (gross income less expenses)2018-12-31$146,457
Net plan assets at end of year (total assets less liabilities)2018-12-31$168,430
Net plan assets at beginning of year (total assets less liabilities)2018-12-31$21,973
Assets. Value of participant loans2018-12-31$3,578
Total contributions received or receivable from employer(s)2018-12-31$79,963
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2018-12-31$0
2017 : IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2017 401k financial data
Total plan liabilities at end of year2017-12-31$0
Total plan liabilities at beginning of year2017-12-31$0
Total income from all sources2017-12-31$21,973
Expenses. Total of all expenses incurred2017-12-31$0
Total plan assets at end of year2017-12-31$21,973
Total plan assets at beginning of year2017-12-31$0
Value of fidelity bond covering the plan2017-12-31$385,000
Other income received2017-12-31$262
Net income (gross income less expenses)2017-12-31$21,973
Net plan assets at end of year (total assets less liabilities)2017-12-31$21,973
Net plan assets at beginning of year (total assets less liabilities)2017-12-31$0
Total contributions received or receivable from employer(s)2017-12-31$21,711
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2017-12-31$0

Form 5500 Responses for IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN

2022: IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes
2021: IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes
2020: IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Submission has been amendedNo
2020-01-01This submission is the final filingNo
2020-01-01This return/report is a short plan year return/report (less than 12 months)No
2020-01-01Plan is a collectively bargained planNo
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan benefit arrangement - TrustYes
2019: IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2019 form 5500 responses
2019-01-01Type of plan entitySingle employer plan
2019-01-01Submission has been amendedNo
2019-01-01This submission is the final filingNo
2019-01-01This return/report is a short plan year return/report (less than 12 months)No
2019-01-01Plan is a collectively bargained planNo
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement - TrustYes
2018: IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2018 form 5500 responses
2018-01-01Type of plan entitySingle employer plan
2018-01-01Submission has been amendedNo
2018-01-01This submission is the final filingNo
2018-01-01This return/report is a short plan year return/report (less than 12 months)No
2018-01-01Plan is a collectively bargained planNo
2018-01-01Plan funding arrangement – TrustYes
2018-01-01Plan benefit arrangement - TrustYes
2017: IBEX IT BUSINESS EXPERTS, LLC 401(K) PLAN 2017 form 5500 responses
2017-09-01Type of plan entitySingle employer plan
2017-09-01First time form 5500 has been submittedYes
2017-09-01Submission has been amendedNo
2017-09-01This submission is the final filingNo
2017-09-01This return/report is a short plan year return/report (less than 12 months)Yes
2017-09-01Plan is a collectively bargained planNo
2017-09-01Plan funding arrangement – TrustYes
2017-09-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number146718
Policy instance 1
Insurance contract or identification number146718
Number of Individuals Covered92
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $3,181
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
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?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
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
Amount paid for insurance broker fees2025
Additional information about fees paid to insurance brokerTPA FEES PAID
Insurance broker organization code?5
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number146718
Policy instance 1
Insurance contract or identification number146718
Number of Individuals Covered89
Insurance policy start date2021-01-04
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $0
Total amount of fees paid to insurance companyUSD $7,383
Are there contracts with allocated funds for individual policies?0
Are there contracts with allocated funds for group deferred annuity?No
Are there contracts with allocated funds for types other than group deferred annuity or individual?No
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Contracts With Unallocated Funds Deposit Administration0
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?No
Health Insurance Welfare BenefitNo
Dental Insurance Welfare BenefitNo
Vision Insurance Welfare BenefitNo
Life Insurance Welfare BenefitNo
Temporary Disability Insurance Welfare BenefitNo
Long Term Disability Insurance Welfare BenefitNo
Unemployment Insurance Welfare BenefitNo
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
Amount paid for insurance broker fees5883
Additional information about fees paid to insurance brokerTPA COMPENSATION
Insurance broker organization code?3

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