Employer · plans filed under one EIN
Lifenet Health
Virginia Beach, VA · Health care and social assistance
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances.
Lifenet Health, based in Virginia Beach, Virginia, sponsors 2 retirement plans with 100 or more participants: 2 defined contribution. Together they reported 3,237 participant records and $192M in net assets.
The largest is 403(b) Thrift Plan for Lifenet Virginia Beach, Virginia, a 403(b) plan with 1,702 participants. A person can be counted in more than one plan, so the participant total is a count of records rather than of people.
Employer contributions across the plans were $10.6M and participant contributions $10.7M in the latest plan years; benefits paid were $14.3M. Schedule C compensation reported to service provider organisations totalled $270K.
Combined net assets moved from $19.1M in 2009 to $192M in 2024 (up 907%). Plan mergers and spin-offs show up here as steps in the series.
Plans
| Plan | Kind | Plan year | Participants | Net assets | Per participant | Employer / active | Sch. C compensation |
|---|---|---|---|---|---|---|---|
| 403(b) Thrift Plan for Lifenet Virginia Beach, Virginia | 403(b) plan | 2024 | 1,702 | $86.7M | $50,933 | — | $148K |
| Lifenet Profit Sharing Plan | profit-sharing plan | 2024 | 1,535 | $105M | $68,550 | $8,139 | $122K |
| US median, plan year 2024: DC plans $53,102 per participant, $2,175 employer contribution per active participant; DB plans $86,221 and $10,244. | |||||||
Trend by plan year
| Plan year | Plans | Participant records | Net assets | Employer contributions | Participant contributions |
|---|---|---|---|---|---|
| 2024 | 2 | 3,237 | $192M | $10.6M | $10.7M |
| 2023 | 2 | 3,095 | $164M | $9.8M | $9.5M |
| 2022 | 2 | 2,748 | $132M | $8.3M | $8.4M |
| 2021 | 2 | 2,542 | $149M | $7.6M | $7.3M |
| 2020 | 2 | 2,510 | $124M | $7.6M | $6.6M |
| 2019 | 2 | 2,468 | $102M | $7.1M | $6.0M |
| 2018 | 2 | 2,288 | $77.9M | $6.3M | $5.1M |
| 2017 | 2 | 2,135 | $75.0M | $5.4M | $4.4M |
| 2016 | 2 | 1,893 | $59.4M | $4.4M | $3.7M |
| 2015 | 2 | 1,681 | $50.7M | $3.9M | $2.6M |
| 2014 | 2 | 1,565 | $47.8M | $4.0M | $2.1M |
| 2013 | 2 | 1,423 | $42.0M | $3.1M | $1.9M |
| 2012 | 2 | 1,379 | $33.0M | $2.9M | $1.7M |
| 2011 | 2 | 1,226 | $27.0M | $2.5M | $1.5M |
| 2010 | 2 | 1,168 | $24.3M | $2.3M | $1.3M |
| 2009 | 2 | 1,208 | $19.1M | $2.2M | $1.1M |
History of the plans listed above, in the years each filed the full Form 5500 with 100 or more participants. Plans that have since terminated are not included.
Service providers
| Organisation | Services reported | Plans | Compensation reported |
|---|---|---|---|
| Principal Life Insurance Company | Contract Administrator; Participant loan processing | 2 | $270,355 |
| Morningstar Investment Management L | Investment advisory (participants) | 2 | $0 |
Organisations paid $5,000 or more by any of these plans, from Schedule C. Individuals are not shown.
Questions and answers
How many retirement plans does Lifenet Health have?
2 plans with 100 or more participants filed Form 5500 under its employer identification number for the latest plan years: 403(b) Thrift Plan for Lifenet Virginia Beach, Virginia and Lifenet Profit Sharing Plan. Smaller plans and plans filed under a subsidiary's number are not grouped here.
How much does Lifenet Health contribute to its plans?
$10,629,013 in employer contributions across these plans in their latest plan years, about $3,886 per active participant record. Form 5500 reports totals and not the match or accrual formula.
Who provides services to these plans?
Schedule C filings name Principal Life Insurance Company and Morningstar Investment Management L. Only organisations paid $5,000 or more by a plan are listed on Schedule C.
Where does this come from?
Form 5500 annual reports filed with the Department of Labor's EFAST2 system, from the EBSA research files, with filings received through 24 Aug 2026. Figures are as filed and may be amended.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files, public domain, with filings received through 24 Aug 2026. Plans are grouped by the sponsor's employer identification number exactly as filed; a company that files under several EINs appears as several employers. See the methodology and corrections.