Plan Snapshot
- Plan Sponsor: Lifemd, INC
- Sponsor EIN: 760238453
- Sponsor Address: 236 5TH AVE, NEW YORK, NY, 10001
- Plan Type: 401(k)
- Total Participants: 242
- Total Assets: $4.7M
Key Plan Design Features
- Auto-Enrollment: Yes
- 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 | 242 | $4.7M | $639,585 | $1.2M |
| 2023 | 186 | $2.7M | $526,131 | $883,077 |
| 2022 | 179 | $1.2M | $381,718 | $694,548 |
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 |
|---|---|---|---|---|
| STOWE & DEGON, LLC | 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 | $49,585 | $17,937 | $31,648 | — | — |
| 2023 | $34,143 | $8,580 | $25,563 | — | — |
| 2022 | $11,303 | $2,442 | $8,861 | — | — |