Retirement plan

OPENLANE, INC. PLAN

Name: OPENLANE, INC. - OPENLANE, INC. PLAN (2023) Form 5500
Creator: OPENLANE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OPENLANE, INC. PLAN, OPENLANE, INC.

OPENLANE, INC.EIN 20-8744739Plan #001PY 2023

11299 N ILLINOIS STREET - CARMEL, IN 46032317-815-1100openlane.comLinkedIn1001-5000 employeesautomotive

Prospect flagsFailed to provide benefit

How to read this page

Total assets (EOY)

$297.5M

-18.8% from 2016

Total participants

4,329

-12.8% from 2016

Average account balance

$77,461

-2.3% from 2016

Annual return

19.97%

-14.82 pp from 2016

Benchmarks

See 309 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants1,000-4,999

Cohort309 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$314.69M

Not enough data

1 years with asset history on file

Average account balance

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

$69K

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.

4,559

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.

73.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$19.27M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+15.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$31

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
STRATEGIC ADVISORS, INC.9+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$167,066
MESIROW FINANCIAL INVESTMENT MANAGE6 years Filed as: MESIROW FINANCIAL Service code 16 · EIN 36-3194849	Consulting	$78,750
FORVIS, LLP1 year Filed as: FORVIS MAZARS Service code 10 · EIN 44-0160260	Accounting	$23,100
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 37 · EIN 04-2647786	Loan Processing	-$90,504

Plan features & details

Pension benefit codes2G2J2K2T3H2F3D

Plan features

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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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

1 tripped

ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.

Expense breakdown

Schedule H Part II

Admin total

$178K

$88 / participant

Investment mgmt$167K93.6%
Other / not subdivided$11K6.4%

% of EOY assets

0.060%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS MAZARS
Auditor EIN: 440160260
Audit fees: $23,100
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$77,461

$85,144-9.0%

$130,070-40.4%

$80,187-3.4%

Participation rate

76.0%

79.5%-3.5pp

78.5%-2.5pp

72.9%+3.1pp

Annual return

19.97%

23.78%-3.8pp

-137.40%+157.4pp

40.40%-20.4pp

Employer contribution / active EE

$2,936

$3,059-4.0%

$4,322-32.1%

$2,980-1.5%

Participant deferral / active EE

$6,080

$4,992+21.8%

$5,821+4.5%

$5,016+21.2%

Admin fee / account holder

$46

$392-88.1%

$10,600-99.6%

$145-68.0%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.9+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$167,066

MESIROW FINANCIAL INVESTMENT MANAGE6 years

Filed as: MESIROW FINANCIAL

Service code 16 · EIN 36-3194849

Consulting

$78,750

FORVIS, LLP1 year

Filed as: FORVIS MAZARS

Service code 10 · EIN 44-0160260

Accounting

$23,100

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 37 · EIN 04-2647786

Loan Processing

-$90,504

OPENLANE, INC. PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OPENLANE, INC. 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