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LOFTED PRODUCTS LLC 401(K) PLAN 401k Plan overview

Plan NameLOFTED PRODUCTS LLC 401(K) PLAN
Plan identification number 003

LOFTED PRODUCTS 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.
  • 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

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

Company Name:LOFTED PRODUCTS LLC
Employer identification number (EIN):834421801
NAIC Classification:313000
NAIC Description: Textile Mills

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LOFTED PRODUCTS LLC 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032023-01-01
0032022-01-01
0032021-01-01MATTHEW DIMKE2022-10-13
0032020-01-01
0032019-01-01MATTHEW DIMKE2020-08-19

Plan Statistics for LOFTED PRODUCTS LLC 401(K) PLAN

401k plan membership statisitcs for LOFTED PRODUCTS LLC 401(K) PLAN

Measure Date Value
2023: LOFTED PRODUCTS LLC 401(K) PLAN 2023 401k membership
Total participants, beginning-of-year2023-01-01137
Total number of active participants reported on line 7a of the Form 55002023-01-01125
Number of retired or separated participants receiving benefits2023-01-010
Number of other retired or separated participants entitled to future benefits2023-01-0112
Total of all active and inactive participants2023-01-01137
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-010
Total participants2023-01-01137
Number of participants with account balances2023-01-01129
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-0111
2022: LOFTED PRODUCTS LLC 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year2022-01-01150
Total number of active participants reported on line 7a of the Form 55002022-01-01106
Number of retired or separated participants receiving benefits2022-01-010
Number of other retired or separated participants entitled to future benefits2022-01-0124
Total of all active and inactive participants2022-01-01130
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-010
Total participants2022-01-01130
Number of participants with account balances2022-01-01122
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-017
2021: LOFTED PRODUCTS LLC 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year2021-01-01132
Total number of active participants reported on line 7a of the Form 55002021-01-0199
Number of retired or separated participants receiving benefits2021-01-010
Number of other retired or separated participants entitled to future benefits2021-01-0127
Total of all active and inactive participants2021-01-01126
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-010
Total participants2021-01-01126
Number of participants with account balances2021-01-01120
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-0128

Financial Data on LOFTED PRODUCTS LLC 401(K) PLAN

Measure Date Value
2023 : LOFTED PRODUCTS LLC 401(K) PLAN 2023 401k financial data
Total unrealized appreciation/depreciation of assets2023-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2023-12-31$0
Total income from all sources (including contributions)2023-12-31$933,113
Total loss/gain on sale of assets2023-12-31$0
Total of all expenses incurred2023-12-31$215,412
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2023-12-31$193,803
Total contributions o plan (from employers,participants, others, non cash contrinutions)2023-12-31$495,887
Value of total assets at end of year2023-12-31$3,534,110
Value of total assets at beginning of year2023-12-31$2,816,409
Total of administrative expenses incurred including professional, contract, advisory and management fees2023-12-31$21,609
Total interest from all sources2023-12-31$16,488
Total dividends received (eg from common stock, registered investment company shares)2023-12-31$6,796
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2023-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2023-12-31$6,796
Was this plan covered by a fidelity bond2023-12-31Yes
Value of fidelity bond cover2023-12-31$500,000
If this is an individual account plan, was there a blackout period2023-12-31No
Were there any nonexempt tranactions with any party-in-interest2023-12-31No
Contributions received from participants2023-12-31$239,322
Participant contributions at end of year2023-12-31$102,432
Participant contributions at beginning of year2023-12-31$30,560
Participant contributions at beginning of year2023-12-31$3,481
Income. Received or receivable in cash from other sources (including rollovers)2023-12-31$105,142
Other income not declared elsewhere2023-12-31$165
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Value of net income/loss2023-12-31$717,701
Value of net assets at end of year (total assets less liabilities)2023-12-31$3,534,110
Value of net assets at beginning of year (total assets less liabilities)2023-12-31$2,816,409
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2023-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2023-12-31No
Were any leases to which the plan was party in default or uncollectible2023-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2023-12-31$369,762
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2023-12-31$325,623
Value of interest in pooled separate accounts at end of year2023-12-31$112,343
Value of interest in pooled separate accounts at beginning of year2023-12-31$78,362
Interest on participant loans2023-12-31$4,425
Interest earned on other investments2023-12-31$12,063
Value of interest in common/collective trusts at end of year2023-12-31$2,538,850
Value of interest in common/collective trusts at beginning of year2023-12-31$2,129,523
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2023-12-31$410,723
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year2023-12-31$246,570
Net investment gain/loss from registered investment companies (e.g. mutual funds)2023-12-31$37,030
Net investment gain/loss from pooled separate accounts2023-12-31$19,447
Net investment gain or loss from common/collective trusts2023-12-31$357,300
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2023-12-31No
Was there a failure to transmit to the plan any participant contributions2023-12-31Yes
Has the plan failed to provide any benefit when due under the plan2023-12-31No
Contributions received in cash from employer2023-12-31$151,423
Employer contributions (assets) at beginning of year2023-12-31$2,290
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2023-12-31$193,803
Contract administrator fees2023-12-31$21,609
Did the plan have assets held for investment2023-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2023-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2023-12-31No
Opinion of an independent qualified public accountant for this plan2023-12-31Unqualified
Accountancy firm name2023-12-31TOPEL FORMAN, LLC
Accountancy firm EIN2023-12-31362469413
2022 : LOFTED PRODUCTS LLC 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$-187,674
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$1,085,643
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$1,075,091
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$367,726
Value of total assets at end of year2022-12-31$2,816,409
Value of total assets at beginning of year2022-12-31$4,089,726
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$10,552
Total interest from all sources2022-12-31$3,650
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$2,898
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2022-12-31$2,898
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$500,000
If this is an individual account plan, was there a blackout period2022-12-31Yes
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Contributions received from participants2022-12-31$206,394
Participant contributions at end of year2022-12-31$30,560
Participant contributions at beginning of year2022-12-31$17,830
Participant contributions at end of year2022-12-31$3,481
Income. Received or receivable in cash from other sources (including rollovers)2022-12-31$22,739
Other income not declared elsewhere2022-12-31$3,367
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-1,273,317
Value of net assets at end of year (total assets less liabilities)2022-12-31$2,816,409
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$4,089,726
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Value of interest in registered invesment companies (eg mutual funds) at end of year2022-12-31$325,623
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2022-12-31$3,523,389
Value of interest in pooled separate accounts at end of year2022-12-31$78,362
Interest on participant loans2022-12-31$1,081
Interest earned on other investments2022-12-31$2,569
Value of interest in common/collective trusts at end of year2022-12-31$2,129,523
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2022-12-31$541,721
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2022-12-31$541,721
Value of funds held in insurance company general accounts (unallocated contracts) at end of year2022-12-31$246,570
Net investment gain/loss from registered investment companies (e.g. mutual funds)2022-12-31$-454,616
Net investment gain/loss from pooled separate accounts2022-12-31$-2,744
Net investment gain or loss from common/collective trusts2022-12-31$-107,955
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31Yes
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$138,593
Employer contributions (assets) at end of year2022-12-31$2,290
Employer contributions (assets) at beginning of year2022-12-31$6,786
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$1,075,091
Contract administrator fees2022-12-31$10,552
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32022-12-31Yes
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Unqualified
Accountancy firm name2022-12-31TOPEL FORMAN, LLC
Accountancy firm EIN2022-12-31362469413
2021 : LOFTED PRODUCTS LLC 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$789,083
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$600,445
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$598,495
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$377,962
Value of total assets at end of year2021-12-31$4,089,726
Value of total assets at beginning of year2021-12-31$3,901,088
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$1,950
Total interest from all sources2021-12-31$1,471
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$464,786
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2021-12-31$464,786
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$500,000
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$234,735
Participant contributions at end of year2021-12-31$17,830
Participant contributions at beginning of year2021-12-31$31,175
Administrative expenses (other) incurred2021-12-31$1,950
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$188,638
Value of net assets at end of year (total assets less liabilities)2021-12-31$4,089,726
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$3,901,088
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
Value of interest in registered invesment companies (eg mutual funds) at end of year2021-12-31$3,523,389
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2021-12-31$3,356,316
Interest on participant loans2021-12-31$1,412
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2021-12-31$541,721
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2021-12-31$513,597
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2021-12-31$513,597
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2021-12-31$59
Net investment gain/loss from registered investment companies (e.g. mutual funds)2021-12-31$-55,136
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$143,227
Employer contributions (assets) at end of year2021-12-31$6,786
Employer contributions (assets) at beginning of year2021-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$598,495
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 plan2021-12-31Unqualified
Accountancy firm name2021-12-31TOPEL FORMAN, LLC
Accountancy firm EIN2021-12-31362469413

Form 5500 Responses for LOFTED PRODUCTS LLC 401(K) PLAN

2023: LOFTED PRODUCTS LLC 401(K) PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01This submission is the final filingNo
2023-01-01This return/report is a short plan year return/report (less than 12 months)No
2023-01-01Plan is a collectively bargained planNo
2023-01-01Plan funding arrangement – InsuranceYes
2023-01-01Plan funding arrangement – TrustYes
2023-01-01Plan benefit arrangement – InsuranceYes
2023-01-01Plan benefit arrangement - TrustYes
2022: LOFTED PRODUCTS LLC 401(K) PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01First time form 5500 has been submittedYes
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – InsuranceYes
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement – InsuranceYes
2022-01-01Plan benefit arrangement - TrustYes
2021: LOFTED PRODUCTS LLC 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 – TrustYes
2021-01-01Plan benefit arrangement - TrustYes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number613953
Policy instance 1
Insurance contract or identification number613953
Number of Individuals Covered137
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
Total amount of commissions paid to insurance brokerUSD $393
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number474168
Policy instance 2
Insurance contract or identification number474168
Number of Individuals Covered137
Insurance policy start date2023-01-01
Insurance policy end date2023-12-31
Total amount of commissions paid to insurance brokerUSD $132
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number613953
Policy instance 1
Insurance contract or identification number613953
Number of Individuals Covered130
Insurance policy start date2022-08-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $105
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?Yes
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $105
Amount paid for insurance broker fees0
Insurance broker organization code?3
PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )
Policy contract number474168
Policy instance 2
Insurance contract or identification number474168
Number of Individuals Covered130
Insurance policy start date2022-08-01
Insurance policy end date2022-12-31
Total amount of commissions paid to insurance brokerUSD $28
Total amount of fees paid to insurance companyUSD $0
Contract purchased, in whole or in part, to distribute benefits from a terminating planNo
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?No
Commission paid to Insurance BrokerUSD $28
Amount paid for insurance broker fees0
Insurance broker organization code?3

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