Retirement plan

O'BRIEN AUTO TEAM 401(K) PLAN

Name: O'BRIEN AUTO TEAM, INC. - O'BRIEN AUTO TEAM 401(K) PLAN (2023) Form 5500
Creator: O'BRIEN AUTO TEAM, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, O'BRIEN AUTO TEAM 401(K) PLAN, O'BRIEN AUTO TEAM, INC.

O'BRIEN AUTO TEAM, INC.EIN 01-0631714Plan #333PY 2023

1601 FORT JESSE ROAD, SUITE 200 - NORMAL, IL 61761309-664-1222obrienteamil.comLinkedIn201-500 employeesautomotive

Prospect flagsLow returnsHigh feesLow participationLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$8.8M

+13.7% from 2022

Total participants

336

+3.4% from 2022

Average account balance

$34,512

+17.7% from 2022

Annual return

13.23%

+28.43 pp from 2022

Benchmarks

See 2,285 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,285 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$9.00M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$35K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

255

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

85.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$630K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+9.17%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$342

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE CO. OF AM Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$47,649
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$25,577
THE AIMPOINT GROUP4 years Filed as: AIMPOINT GROUP LLC Service code 13 PO BOX 1586 · POMPANO BEACH, FL 33061	Contract Administrator	$15,673
CETERA ADVISOR NETWORKS LLC4 years Service code 55 200 N PACIFIC COAST HWY · EL SEGUNDO, CA 902455670	Other Commissions	$0

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
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 contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

6 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$82K

$363 / participant

Recordkeeping$78K94.4%
Contract admin$5K5.6%

% of EOY assets

0.941%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BOYER & RITTER
Auditor EIN: 231311005
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$34,512

$54,717-36.9%

$86,216-60.0%

$71,511-51.7%

Participation rate

63.9%

60.1%+3.8pp

69.0%-5.1pp

67.9%-4.1pp

Annual return

13.23%

20.07%-6.8pp

1169.42%-1156.2pp

28.86%-15.6pp

Employer contribution / active EE

$209

$1,267-83.5%

$2,382-91.2%

$2,589-91.9%

Participant deferral / active EE

$3,281

$3,110+5.5%

$3,986-17.7%

$4,291-23.5%

Admin fee / account holder

$325

$1,922-83.1%

$6,853-95.3%

$1,588-79.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE CO. OF AM

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$47,649

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$25,577

THE AIMPOINT GROUP4 years

Filed as: AIMPOINT GROUP LLC

Service code 13

PO BOX 1586 · POMPANO BEACH, FL 33061

Contract Administrator

$15,673

CETERA ADVISOR NETWORKS LLC4 years

Service code 55

200 N PACIFIC COAST HWY · EL SEGUNDO, CA 902455670

Other Commissions

O'BRIEN AUTO TEAM 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

O'BRIEN AUTO TEAM 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion