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TEAM JGP, INC. 401K PROFIT SHARING PLAN 401k Plan overview

Plan NameTEAM JGP, INC. 401K PROFIT SHARING PLAN
Plan identification number 001

TEAM JGP, INC. 401K PROFIT SHARING PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of 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.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • 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.

401k Sponsoring company profile

TEAM JGP, INC. has sponsored the creation of one or more 401k plans.

Company Name:TEAM JGP, INC.
Employer identification number (EIN):882749033
NAIC Classification:339900

Form 5500 Filing Information

Submission information for form 5500 for 401k plan TEAM JGP, INC. 401K PROFIT SHARING PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01
0012022-06-13

Plan Statistics for TEAM JGP, INC. 401K PROFIT SHARING PLAN

401k plan membership statisitcs for TEAM JGP, INC. 401K PROFIT SHARING PLAN

Measure Date Value
2023: TEAM JGP, INC. 401K PROFIT SHARING PLAN 2023 401k membership
Total participants, beginning-of-year2023-01-012
Total number of active participants reported on line 7a of the Form 55002023-01-012
Number of retired or separated participants receiving benefits2023-01-010
Number of other retired or separated participants entitled to future benefits2023-01-010
Total of all active and inactive participants2023-01-012
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-01-010
Total participants2023-01-012
Number of participants with account balances2023-01-012
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-01-010
2022: TEAM JGP, INC. 401K PROFIT SHARING PLAN 2022 401k membership
Total participants, beginning-of-year2022-06-132
Total number of active participants reported on line 7a of the Form 55002022-06-132
Number of retired or separated participants receiving benefits2022-06-130
Number of other retired or separated participants entitled to future benefits2022-06-130
Total of all active and inactive participants2022-06-132
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-06-130
Total participants2022-06-132
Number of participants with account balances2022-06-131
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-06-130

Financial Data on TEAM JGP, INC. 401K PROFIT SHARING PLAN

Measure Date Value
2023 : TEAM JGP, INC. 401K PROFIT SHARING PLAN 2023 401k financial data
Total income from all sources2023-12-31$-38,317
Expenses. Total of all expenses incurred2023-12-31$0
Total plan assets at end of year2023-12-31$815
Total plan assets at beginning of year2023-12-31$39,132
Total contributions received or receivable from participants2023-12-31$632
Other income received2023-12-31$-38,949
Net income (gross income less expenses)2023-12-31$-38,317
Net plan assets at end of year (total assets less liabilities)2023-12-31$815
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$39,132
Assets. Value of employer securities2023-12-31$0
2022 : TEAM JGP, INC. 401K PROFIT SHARING PLAN 2022 401k financial data
Total income from all sources2022-12-31$39,157
Expenses. Total of all expenses incurred2022-12-31$25
Total plan assets at end of year2022-12-31$39,132
Total contributions received or receivable from participants2022-12-31$0
Expenses. Other expenses not covered elsewhere2022-12-31$25
Contributions received from other sources (not participants or employers)2022-12-31$60,000
Other income received2022-12-31$-20,843
Net income (gross income less expenses)2022-12-31$39,132
Net plan assets at end of year (total assets less liabilities)2022-12-31$39,132
Net plan assets at beginning of year (total assets less liabilities)2022-12-31$0
Assets. Value of employer securities2022-12-31$38,950
Total contributions received or receivable from employer(s)2022-12-31$0

Form 5500 Responses for TEAM JGP, INC. 401K PROFIT SHARING PLAN

2023: TEAM JGP, INC. 401K PROFIT SHARING PLAN 2023 form 5500 responses
2023-01-01Type of plan entitySingle employer plan
2023-01-01Submission has been amendedNo
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 – TrustYes
2023-01-01Plan benefit arrangement - TrustYes
2022: TEAM JGP, INC. 401K PROFIT SHARING PLAN 2022 form 5500 responses
2022-06-13Type of plan entitySingle employer plan
2022-06-13First time form 5500 has been submittedYes
2022-06-13Submission has been amendedNo
2022-06-13This submission is the final filingNo
2022-06-13This return/report is a short plan year return/report (less than 12 months)Yes
2022-06-13Plan is a collectively bargained planNo
2022-06-13Plan funding arrangement – TrustYes
2022-06-13Plan benefit arrangement - TrustYes

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