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LIFEBEATS GIFTS, LLC 401(K) PLAN 401k Plan overview

Plan NameLIFEBEATS GIFTS, LLC 401(K) PLAN
Plan identification number 001

LIFEBEATS GIFTS, 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.
  • 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.
  • 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

LIFEBEATS GIFTS, LLC has sponsored the creation of one or more 401k plans.

Company Name:LIFEBEATS GIFTS, LLC
Employer identification number (EIN):831780811
NAIC Classification:332900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LIFEBEATS GIFTS, LLC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01CINDY FORBES2024-06-12
0012022-01-01CINDY FORBES2023-07-06
0012021-01-01CINDY FORBES2022-06-28
0012020-01-01CINDY FORBES2021-06-24
0012019-01-01

Plan Statistics for LIFEBEATS GIFTS, LLC 401(K) PLAN

401k plan membership statisitcs for LIFEBEATS GIFTS, LLC 401(K) PLAN

Measure Date Value
2025: LIFEBEATS GIFTS, LLC 401(K) PLAN 2025 401k membership
Total number of particpants at beginning of year2025-07-1516
Total number of particpants at end of year2025-07-1515
Number of Participants With Account Balances2025-07-158
2024: LIFEBEATS GIFTS, LLC 401(K) PLAN 2024 401k membership
Total number of particpants at beginning of year2024-06-1215
Total number of particpants at end of year2024-06-1216
Number of Participants With Account Balances2024-06-127
2022: LIFEBEATS GIFTS, LLC 401(K) PLAN 2022 401k membership
Total number of particpants at beginning of year2022-06-2814
Total number of particpants at end of year2022-06-2812
Number of Participants With Account Balances2022-06-285
2019: LIFEBEATS GIFTS, LLC 401(K) PLAN 2019 401k membership
Total participants, beginning-of-year2019-01-0117
Total number of active participants reported on line 7a of the Form 55002019-01-0115
Number of retired or separated participants receiving benefits2019-01-010
Number of other retired or separated participants entitled to future benefits2019-01-010
Total of all active and inactive participants2019-01-0115
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2019-01-010
Total participants2019-01-0115
Number of participants with account balances2019-01-017
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2019-01-010

Financial Data on LIFEBEATS GIFTS, LLC 401(K) PLAN

Measure Date Value
2025 : LIFEBEATS GIFTS, LLC 401(K) PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-07-153490
Net assets as of the end of the plan year2025-07-15406343
Total assets as of the beginning of the plan year2025-07-15322769
Value of plan covered by a fidelity bond2025-07-1540000
Participant contributions to plan in this plan year2025-07-1541203
Value of participant loans at end of plan year2025-07-1511294
Other expenses paid from plan in this plan year2025-07-153490
Other income to plan in this plan year2025-07-1530219
Plan net income in this plan year2025-07-1583574
Net assets as of the end of the plan year2025-07-15406343
Net assets as of the beginning of the plan year2025-07-15322769
Employer contributions to plan in this plan year2025-07-1515642
2024 : LIFEBEATS GIFTS, LLC 401(K) PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-06-122638
Net assets as of the end of the plan year2024-06-12322769
Total assets as of the beginning of the plan year2024-06-12235375
Value of plan covered by a fidelity bond2024-06-1225000
Participant contributions to plan in this plan year2024-06-1237921
Value of participant loans at end of plan year2024-06-123951
Other expenses paid from plan in this plan year2024-06-122638
Other income to plan in this plan year2024-06-1239029
Plan net income in this plan year2024-06-1287394
Net assets as of the end of the plan year2024-06-12322769
Net assets as of the beginning of the plan year2024-06-12235375
Employer contributions to plan in this plan year2024-06-1213082
2022 : LIFEBEATS GIFTS, LLC 401(K) PLAN 2022 401k financial data
Total liabilities as of the beginning of the plan year2022-06-2818646
Total expenses incurred by plan in this plan year2022-06-286994
Net assets as of the end of the plan year2022-06-28242803
Total assets as of the beginning of the plan year2022-06-28222893
Value of plan covered by a fidelity bond2022-06-2825000
Participant contributions to plan in this plan year2022-06-2811005
Other income to plan in this plan year2022-06-2834545
Plan net income in this plan year2022-06-2838556
Net assets as of the end of the plan year2022-06-28242803
Net assets as of the beginning of the plan year2022-06-28204247
Expensese paid to adminstrative service provicers from plan in this plan year2022-06-282388
2019 : LIFEBEATS GIFTS, LLC 401(K) PLAN 2019 401k financial data
Total plan liabilities at end of year2019-12-31$0
Total income from all sources2019-12-31$86,004
Expenses. Total of all expenses incurred2019-12-31$143,726
Benefits paid (including direct rollovers)2019-12-31$141,874
Total plan assets at end of year2019-12-31$176,340
Total plan assets at beginning of year2019-12-31$234,062
Value of fidelity bond covering the plan2019-12-31$30,000
Total contributions received or receivable from participants2019-12-31$30,881
Contributions received from other sources (not participants or employers)2019-12-31$36
Other income received2019-12-31$47,883
Noncash contributions received2019-12-31$0
Net income (gross income less expenses)2019-12-31$-57,722
Net plan assets at end of year (total assets less liabilities)2019-12-31$176,340
Net plan assets at beginning of year (total assets less liabilities)2019-12-31$234,062
Assets. Value of participant loans2019-12-31$2,723
Total contributions received or receivable from employer(s)2019-12-31$7,204
Value of certain deemed distributions of participant loans2019-12-31$0
Value of corrective distributions2019-12-31$0
Expenses. Administrative service providers (salaries,fees and commissions)2019-12-31$1,852
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2019-12-31$0

Form 5500 Responses for LIFEBEATS GIFTS, LLC 401(K) PLAN

2019: LIFEBEATS GIFTS, 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 – InsuranceYes
2019-01-01Plan funding arrangement – TrustYes
2019-01-01Plan benefit arrangement – InsuranceYes
2019-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 68322 )
Policy contract number374330-01
Policy instance 1

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