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LOOKOUT MAGNOLIA INC. RETIREMENT PLAN 401k Plan overview

Plan NameLOOKOUT MAGNOLIA INC. RETIREMENT PLAN
Plan identification number 001

LOOKOUT MAGNOLIA INC. RETIREMENT PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • 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.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

LOOKOUT MAGNOLIA INC. has sponsored the creation of one or more 401k plans.

Company Name:LOOKOUT MAGNOLIA INC.
Employer identification number (EIN):934630153
NAIC Classification:562000

Form 5500 Filing Information

Submission information for form 5500 for 401k plan LOOKOUT MAGNOLIA INC. RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-12-08

Plan Statistics for LOOKOUT MAGNOLIA INC. RETIREMENT PLAN

401k plan membership statisitcs for LOOKOUT MAGNOLIA INC. RETIREMENT PLAN

Measure Date Value
2023: LOOKOUT MAGNOLIA INC. RETIREMENT PLAN 2023 401k membership
Total participants, beginning-of-year2023-12-081
Total number of active participants reported on line 7a of the Form 55002023-12-081
Number of retired or separated participants receiving benefits2023-12-080
Number of other retired or separated participants entitled to future benefits2023-12-080
Total of all active and inactive participants2023-12-081
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2023-12-080
Total participants2023-12-081
Number of participants with account balances2023-12-081
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2023-12-080

Financial Data on LOOKOUT MAGNOLIA INC. RETIREMENT PLAN

Measure Date Value
2023 : LOOKOUT MAGNOLIA INC. RETIREMENT PLAN 2023 401k financial data
Total income from all sources2023-12-31$307,154
Expenses. Total of all expenses incurred2023-12-31$15
Total plan assets at end of year2023-12-31$307,139
Total plan assets at beginning of year2023-12-31$0
Value of fidelity bond covering the plan2023-12-31$50,000
Contributions received from other sources (not participants or employers)2023-12-31$307,028
Other income received2023-12-31$126
Net income (gross income less expenses)2023-12-31$307,139
Net plan assets at end of year (total assets less liabilities)2023-12-31$307,139
Net plan assets at beginning of year (total assets less liabilities)2023-12-31$0
Assets. Value of employer securities2023-12-31$307,013
Expenses. Administrative service providers (salaries,fees and commissions)2023-12-31$15

Form 5500 Responses for LOOKOUT MAGNOLIA INC. RETIREMENT PLAN

2023: LOOKOUT MAGNOLIA INC. RETIREMENT PLAN 2023 form 5500 responses
2023-12-08Type of plan entitySingle employer plan
2023-12-08First time form 5500 has been submittedYes
2023-12-08Submission has been amendedNo
2023-12-08This submission is the final filingNo
2023-12-08This return/report is a short plan year return/report (less than 12 months)Yes
2023-12-08Plan is a collectively bargained planNo
2023-12-08Plan funding arrangement – TrustYes
2023-12-08Plan benefit arrangement - TrustYes

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