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LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN 401k Plan overview

Plan NameLABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN
Plan identification number 001

LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING 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

LABOR FINDERS INTERNATIONAL, INC. has sponsored the creation of one or more 401k plans.

Company Name:LABOR FINDERS INTERNATIONAL, INC.
Employer identification number (EIN):591620494
NAIC Classification:561300

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012022-01-01
0012021-01-01
0012020-01-01
0012019-01-01
0012018-01-01
0012017-01-01
0012016-01-01JEFFREY BURNETT2017-07-05
0012015-01-01JEFFREY BURNETT2016-07-22
0012013-01-01JEFFREY BURNETT2014-07-30
0012012-01-01JEFFREY BURNETT2013-10-15
0012011-01-01JEFFREY BURNETT2012-10-12
0012010-01-01JEFFREY BURNETT2011-10-14

Plan Statistics for LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN

401k plan membership statisitcs for LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2022: LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01203
Total number of active participants reported on line 7a of the Form 55002022-01-01147
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0139
Total of all active and inactive participants2022-01-01186
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01186
Number of participants with account balances2022-01-01163
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-0116
2021: LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01186
Total number of active participants reported on line 7a of the Form 55002021-01-01141
Number of retired or separated participants receiving benefits2021-01-0118
Number of other retired or separated participants entitled to future benefits2021-01-0144
Total of all active and inactive participants2021-01-01203
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01203
Number of participants with account balances2021-01-01175
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-0119
2020: LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN 2020 401k membership
Total participants, beginning-of-year2020-01-01148
Total number of active participants reported on line 7a of the Form 55002020-01-01141
Number of retired or separated participants receiving benefits2020-01-018
Number of other retired or separated participants entitled to future benefits2020-01-0120
Total of all active and inactive participants2020-01-01169
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2020-01-010
Total participants2020-01-01169
Number of participants with account balances2020-01-01157
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2020-01-0133

Financial Data on LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN

Measure Date Value
2022 : LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$-247,246
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$764,441
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$717,301
Value of total corrective distributions2022-12-31$5,589
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$1,134,656
Value of total assets at end of year2022-12-31$7,375,447
Value of total assets at beginning of year2022-12-31$8,387,134
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$41,551
Total interest from all sources2022-12-31$4,879
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$100,097
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$100,097
Administrative expenses professional fees incurred2022-12-31$5,354
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$500,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$704,829
Participant contributions at end of year2022-12-31$99,181
Participant contributions at beginning of year2022-12-31$77,621
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$77,395
Total non interest bearing cash at end of year2022-12-31$0
Total non interest bearing cash at beginning of year2022-12-31$648
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-1,011,687
Value of net assets at end of year (total assets less liabilities)2022-12-31$7,375,447
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$8,387,134
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$7,079,399
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$8,308,865
Interest on participant loans2022-12-31$4,879
Value of interest in common/collective trusts at end of year2022-12-31$196,867
Value of interest in common/collective trusts at beginning of year2022-12-31$0
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-372,957
Net investment gain/loss from pooled separate accounts2022-12-31$-1,114,306
Net investment gain or loss from common/collective trusts2022-12-31$385
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$352,432
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$717,301
Contract administrator fees2022-12-31$36,197
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31ASSURANCE DIMENSIONS
Accountancy firm EIN2022-12-31263429295
2021 : LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN 2021 401k financial data
Total income from all sources (including contributions)2021-12-31$1,880,514
Total of all expenses incurred2021-12-31$708,847
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$653,238
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$809,457
Value of total assets at end of year2021-12-31$8,387,134
Value of total assets at beginning of year2021-12-31$7,215,467
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$55,609
Total interest from all sources2021-12-31$3,379
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$500,000
If this is an individual account plan, was there a blackout period2021-12-31No
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$588,406
Participant contributions at end of year2021-12-31$77,621
Participant contributions at beginning of year2021-12-31$59,981
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$11,253
Total non interest bearing cash at end of year2021-12-31$648
Total non interest bearing cash at beginning of year2021-12-31$3,812
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$1,171,667
Value of net assets at end of year (total assets less liabilities)2021-12-31$8,387,134
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$7,215,467
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Investment advisory and management fees2021-12-31$52,880
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$8,308,865
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$7,151,674
Income. Interest from loans (other than to participants)2021-12-31$3,379
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$1,067,678
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$209,798
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$653,238
Contract administrator fees2021-12-31$2,729
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32021-12-31No
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Unqualified
Accountancy firm name2021-12-31ASSURANCE DIMENSIONS
Accountancy firm EIN2021-12-31263429295
2020 : LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN 2020 401k financial data
Expenses. Interest paid2020-12-31$0
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022020-12-31$0
Total income from all sources (including contributions)2020-12-31$1,621,921
Total of all expenses incurred2020-12-31$169,576
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2020-12-31$131,600
Total contributions o plan (from employers,participants, others, non cash contrinutions)2020-12-31$648,802
Value of total assets at end of year2020-12-31$7,215,467
Value of total assets at beginning of year2020-12-31$5,763,122
Total of administrative expenses incurred including professional, contract, advisory and management fees2020-12-31$37,976
Total interest from all sources2020-12-31$1,992
Total dividends received (eg from common stock, registered investment company shares)2020-12-31$971,127
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2020-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2020-12-31$971,127
Was this plan covered by a fidelity bond2020-12-31Yes
Value of fidelity bond cover2020-12-31$500,000
If this is an individual account plan, was there a blackout period2020-12-31No
Were there any nonexempt tranactions with any party-in-interest2020-12-31No
Contributions received from participants2020-12-31$552,167
Participant contributions at end of year2020-12-31$59,981
Participant contributions at beginning of year2020-12-31$26,922
Participant contributions at beginning of year2020-12-31$123
Income. Received or receivable in cash from other sources (including rollovers)2020-12-31$428
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2020-12-31$0
Total non interest bearing cash at end of year2020-12-31$3,812
Total non interest bearing cash at beginning of year2020-12-31$2,102
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Value of net income/loss2020-12-31$1,452,345
Value of net assets at end of year (total assets less liabilities)2020-12-31$7,215,467
Value of net assets at beginning of year (total assets less liabilities)2020-12-31$5,763,122
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2020-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2020-12-31No
Were any leases to which the plan was party in default or uncollectible2020-12-31No
Investment advisory and management fees2020-12-31$37,031
Value of interest in registered invesment companies (eg mutual funds) at end of year2020-12-31$7,151,674
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2020-12-31$5,683,913
Interest on participant loans2020-12-31$1,992
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2020-12-31No
Was there a failure to transmit to the plan any participant contributions2020-12-31No
Has the plan failed to provide any benefit when due under the plan2020-12-31No
Contributions received in cash from employer2020-12-31$96,207
Employer contributions (assets) at beginning of year2020-12-31$50,062
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2020-12-31$131,600
Contract administrator fees2020-12-31$945
Did the plan have assets held for investment2020-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2020-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2020-12-31No
Opinion of an independent qualified public accountant for this plan2020-12-31Disclaimer
Accountancy firm name2020-12-31ASSURANCE DIMENSIONS
Accountancy firm EIN2020-12-31263429295

Form 5500 Responses for LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN

2022: LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING 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 – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes
2020: LABOR FINDERS INTERNATIONAL, INC. 401(K) PROFIT SHARING PLAN 2020 form 5500 responses
2020-01-01Type of plan entitySingle employer plan
2020-01-01Plan funding arrangement – TrustYes
2020-01-01Plan 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 number130315
Policy instance 1
Insurance contract or identification number130315
Number of Individuals Covered0
Insurance policy start date2022-01-01
Insurance policy end date2022-12-01
Total amount of commissions paid to insurance brokerUSD $12,925
Total amount of fees paid to insurance companyUSD $3,485
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 fees3485
Additional information about fees paid to insurance brokerTPA SERVICES
Insurance broker organization code?5
Commission paid to Insurance BrokerUSD $12,925
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number
Policy instance 1
Number of Individuals Covered173
Insurance policy start date2022-01-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $19,370
Total amount of fees paid to insurance companyUSD $3,911
Commission paid to Insurance BrokerUSD $19,370
Amount paid for insurance broker fees0
Additional information about fees paid to insurance brokerBROKER COMMISSIONS
Insurance broker organization code?4
JOHN HANCOCK LIFE INSURANCE COMPANY (U.S.A.) (National Association of Insurance Commissioners NAIC id number: 65838 )
Policy contract number
Policy instance 1
Number of Individuals Covered168
Insurance policy start date2021-01-01
Insurance policy end date2021-12-31
Total amount of commissions paid to insurance brokerUSD $17,970
Total amount of fees paid to insurance companyUSD $520
Commission paid to Insurance BrokerUSD $14,960
Amount paid for insurance broker fees0
Additional information about fees paid to insurance brokerBROKER COMMISSIONS
Insurance broker organization code?4

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