Plan Snapshot
- Plan Sponsor: Life INC.
- Sponsor EIN: 561612948
- Sponsor Address: 2609 ROYALL AVENUE, GOLDSBORO, NC, 27534
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 132
- Total Assets: $814,451
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 132 | $814,451 | $0 | $0 |
| 2024 | 134 | $954,726 | $1.4M | $320,398 |
| 2023 | 146 | $777,543 | $1.5M | $356,430 |
| 2022 | 156 | $826,160 | $1.2M | $371,280 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| EBENCONCEPTS COMPANY, INC. | Other Service Provider | $46,000 | — | $46,000 |
| BLUE CROSS AND BLUE SHIELD OF NC | Recordkeeper | $36,540 | — | $36,540 |
| DAVIDSON HOLLAND WHITESELL & CO PLL | Auditor | $19,950 | — | $19,950 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $102,490
- Estimated Expense Ratio: 12.584% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2025 | $1,674,863 | — | $293,890 | $19,950 | — |
| 2024 | $305,546 | — | $287,346 | $18,200 | — |
| 2023 | $291,624 | — | $275,879 | $15,745 | — |
| 2022 | $308,125 | — | $292,235 | — | $15,890 |