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IPM FOODS 401(K) PLAN 401k Plan overview

Plan NameIPM FOODS 401(K) PLAN
Plan identification number 001

IPM FOODS 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • 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.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

IPMF LLC has sponsored the creation of one or more 401k plans.

Company Name:IPMF LLC
Employer identification number (EIN):454104997
NAIC Classification:311900
NAIC Description: Other Food Manufacturing

Form 5500 Filing Information

Submission information for form 5500 for 401k plan IPM FOODS 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01NICK RICE2024-07-18
0012021-01-01JOHN HOLLAND2022-10-17
0012021-01-01JOHN HOLLAND2024-04-22
0012020-01-01
0012019-01-01
0012018-01-01JAMES CARROLL2019-05-06

Financial Data on IPM FOODS 401(K) PLAN

Measure Date Value
2025 : IPM FOODS 401(K) PLAN 2025 401k financial data
Total expenses incurred by plan in this plan year2025-06-1370564
Net assets as of the end of the plan year2025-06-131255933
Total assets as of the beginning of the plan year2025-06-13717504
Value of plan covered by a fidelity bond2025-06-1372000
Participant contributions to plan in this plan year2025-06-13319088
Value of participant loans at end of plan year2025-06-1354419
Other contributions to plan in this plan year2025-06-13101887
Other income to plan in this plan year2025-06-13124923
Plan net income in this plan year2025-06-13538429
Net assets as of the end of the plan year2025-06-131255933
Net assets as of the beginning of the plan year2025-06-13717504
Employer contributions to plan in this plan year2025-06-1363095
Expensese paid to adminstrative service provicers from plan in this plan year2025-06-136777
2024 : IPM FOODS 401(K) PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-07-18143415
Net assets as of the end of the plan year2024-07-18717504
Total assets as of the beginning of the plan year2024-07-18362758
Value of plan covered by a fidelity bond2024-07-1837000
Participant contributions to plan in this plan year2024-07-18200319
Value of participant loans at end of plan year2024-07-1824358
Other contributions to plan in this plan year2024-07-18163491
Other income to plan in this plan year2024-07-1882938
Plan net income in this plan year2024-07-18354746
Net assets as of the end of the plan year2024-07-18717504
Net assets as of the beginning of the plan year2024-07-18362758
Employer contributions to plan in this plan year2024-07-1851413
Expensese paid to adminstrative service provicers from plan in this plan year2024-07-183949
2022 : IPM FOODS 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-01-01$0
Total transfer of assets from this plan2022-01-01$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-01-01$17,499
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-01-01$17,500
Total income from all sources (including contributions)2022-01-01$99,995
Total loss/gain on sale of assets2022-01-01$0
Total of all expenses incurred2022-01-01$39,754
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-01-01$37,567
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-01-01$153,640
Value of total assets at end of year2022-01-01$362,758
Value of total assets at beginning of year2022-01-01$302,518
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-01-01$2,187
Total interest from all sources2022-01-01$163
Total dividends received (eg from common stock, registered investment company shares)2022-01-01$19,888
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-01-01No
Total dividends received from registered investment company shares (eg mutual funds)2022-01-01$19,888
Was this plan covered by a fidelity bond2022-01-01Yes
Value of fidelity bond cover2022-01-01$31,000
If this is an individual account plan, was there a blackout period2022-01-01Yes
Were there any nonexempt tranactions with any party-in-interest2022-01-01No
Contributions received from participants2022-01-01$116,108
Participant contributions at end of year2022-01-01$13,030
Participant contributions at beginning of year2022-01-01$2,460
Income. Received or receivable in cash from other sources (including rollovers)2022-01-01$3,146
Administrative expenses (other) incurred2022-01-01$2,187
Liabilities. Value of operating payables at end of year2022-01-01$17,499
Liabilities. Value of operating payables at beginning of year2022-01-01$17,500
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-01-01No
Value of net income/loss2022-01-01$60,241
Value of net assets at end of year (total assets less liabilities)2022-01-01$345,259
Value of net assets at beginning of year (total assets less liabilities)2022-01-01$285,018
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-01-01No
Were any loans by the plan or fixed income obligations due to the plan in default2022-01-01No
Were any leases to which the plan was party in default or uncollectible2022-01-01No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-01-01$349,728
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-01-01$289,233
Interest on participant loans2022-01-01$163
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-01-01$0
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2022-01-01$10,825
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-01-01$-73,696
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-01-01No
Was there a failure to transmit to the plan any participant contributions2022-01-01Yes
Has the plan failed to provide any benefit when due under the plan2022-01-01No
Contributions received in cash from employer2022-01-01$34,386
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-01-01$37,567
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32022-01-01Yes
Did the plan have assets held for investment2022-01-01Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-01-01No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-01-01No
Opinion of an independent qualified public accountant for this plan2022-01-011
Accountancy firm name2022-01-01RSM US LLP
Accountancy firm EIN2022-01-01420714325
2021 : IPM FOODS 401(K) PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total income from all sources (including contributions)2021-12-31$118,084
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$8,029
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$6,184
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$94,113
Value of total assets at end of year2021-12-31$285,018
Value of total assets at beginning of year2021-12-31$174,963
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$1,845
Total interest from all sources2021-12-31$167
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$0
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 bond2021-12-31No
Value of fidelity bond cover2021-12-31$1,000,000
If this is an individual account plan, was there a blackout period2021-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Contributions received from participants2021-12-31$71,519
Participant contributions at end of year2021-12-31$2,460
Participant contributions at beginning of year2021-12-31$4,908
Participant contributions at end of year2021-12-31$-10,906
Participant contributions at beginning of year2021-12-31$-10,819
Income. Received or receivable in cash from other sources (including rollovers)2021-12-31$1,845
Liabilities. Value of operating payables at end of year2021-12-31$17,500
Liabilities. Value of operating payables at beginning of year2021-12-31$15,865
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$110,055
Value of net assets at end of year (total assets less liabilities)2021-12-31$285,018
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$174,963
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$1,845
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$289,233
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$180,670
Value of interest in pooled separate accounts at end of year2021-12-31$289,233
Value of interest in pooled separate accounts at beginning of year2021-12-31$180,670
Interest on participant loans2021-12-31$167
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2021-12-31$10,825
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2021-12-31$5,250
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$23,804
Net investment gain/loss from pooled separate accounts2021-12-31$23,804
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$20,749
Employer contributions (assets) at end of year2021-12-31$-6,594
Employer contributions (assets) at beginning of year2021-12-31$-5,046
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$6,184
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 plan2021-12-31Disclaimer
Accountancy firm name2021-12-31RSM US LLP
Accountancy firm EIN2021-12-31420714325

Form 5500 Responses for IPM FOODS 401(K) PLAN

2021: IPM FOODS 401(K) PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – InsuranceYes
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement – InsuranceYes
2021-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

AMERICAN UNITED LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 60895 )
Policy contract numberG39185
Policy instance 1
AMERICAN UNITED LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 60895 )
Policy contract numberG39185
Policy instance 1

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