Plan Snapshot
- Plan Sponsor: Lifebanc, INC.
- Sponsor EIN: 341525159
- Sponsor Address: 4774 RICHMOND ROAD, CLEVELAND, OH, 44128
- Plan Type: 401(k)
- Total Participants: 179
- Total Assets: $17.2M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 179 | $17.2M | $910,593 | $869,764 |
| 2023 | 183 | $13.9M | $748,627 | $760,823 |
| 2022 | 149 | $11.6M | $616,090 | $532,371 |
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 |
|---|---|---|---|---|
| CIUNI & PANICHI, INC. | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 |
|---|---|---|---|---|---|
| 2024 | $54,461 | $18,869 | $35,592 | — | — |
| 2023 | $45,985 | $13,961 | $32,024 | — | — |
| 2022 | $55,285 | $6,223 | $47,494 | — | $1,568 |