Retirement plan

NORMAN COLLISION WORKS 401(K) PROFIT SHARING PLAN

Name: OP INDUSTRIES OF NORTH AMERICA, INC. - NORMAN COLLISION WORKS 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: OP INDUSTRIES OF NORTH AMERICA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORMAN COLLISION WORKS 401(K) PROFIT SHARING PLAN, OP INDUSTRIES OF NORTH AMERICA, INC.

OP INDUSTRIES OF NORTH AMERICA, INC.dba NORMAN COLLISION WORKSEIN 06-1418299Plan #001PY 2024

363 GREAT NECK ROAD - GREAT NECK, NY 11021516-466-3933LinkedIn11-50 employeesindividual & family services

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$2.6M

+16.9% from 2023

Total participants

-5.4% from 2023

Average account balance

$73,007

+23.6% from 2023

Annual return

10.29%

-5.42 pp from 2023

Benchmarks

See 50,062 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants<25

Cohort50,062 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.56M

Not enough data

1 years with asset history on file

Average account balance

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

$73K

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.

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.

194.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$199K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+10.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1708

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2H2J3D

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).
2H
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.
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.
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.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$60K

$3322 / participant

Other / not subdivided$60K100.0%

% of EOY assets

2.340%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$73,007

$88,702-17.7%

$81,780-10.7%

$145,978-50.0%

Participation rate

100.0%

75.0%+25.0pp

72.4%+27.6pp

80.3%+19.7pp

Annual return

10.29%

1029.12%-1018.8pp

776.27%-766.0pp

550.52%-540.2pp

Employer contribution / active EE

$3,324

$3,084+7.8%

$2,914+14.1%

$4,662-28.7%

Participant deferral / active EE

$7,708

$4,645+65.9%

$4,321+78.4%

$6,690+15.2%

Admin fee / account holder

$1,708

$8,414-79.7%

$7,384-76.9%

$13,400-87.3%

NORMAN COLLISION WORKS 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORMAN COLLISION WORKS 401(K) PROFIT SHARING 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