Retirement plan

OPEN TEXT, INC. 401(K) PLAN

Name: OPEN TEXT, INC. - OPEN TEXT, INC. 401(K) PLAN (2016) Form 5500
Creator: OPEN TEXT, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OPEN TEXT, INC. 401(K) PLAN, OPEN TEXT, INC.

OPEN TEXT, INC.EIN 46-0525483Plan #001PY 2016

951 MARINERS ISLAND BOULEVARD, SUITE 700 - SAN MATEO, CA 94111773-632-1400openxeducation.comLinkedIn11-50 employeescomputer software

Prospect flagsFailed to transmit contributionsFailed to provide benefitCorrective distributions

How to read this page

Total assets (EOY)

$254.6M

-25.0% from 2016

Total participants

3,189

-27.1% from 2016

Average account balance

$86,907

+2.2% from 2016

Annual return

34.73%

-33.43 pp from 2016

Benchmarks

See 664 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort664 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.91B

Not enough data

1 years with asset history on file

Average account balance

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

$194K

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.

9,840

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.

93.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$86.36M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+99.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$57

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 5 by compensation

Provider	Service type	Compensation
MMA SECURITIES LLC2+ years Filed as: MMC SECURITIES Service code 17 · EIN 06-1685865	Pension Consulting	$31,250
GRANT THORNTON LLP1 year Service code 10 · EIN 36-6055558	Accounting	$27,300
STRATEGIC ADVISORS, INC.2+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$20,869
UBS FINANCIAL SERVICES INC1 year Service code 28 · EIN 13-2638166	Investment Management	$7,415
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Service code 37 · EIN 04-2647786	Loan Processing	-$64,525

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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

3 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$24K

$13 / participant

Investment mgmt$21K85.4%
Other / not subdivided$4K14.6%

% of EOY assets

0.010%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: GRANT THORNTON LLP
Auditor EIN: 366055558
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$86,907

$85,635+1.5%

$123,894-29.9%

$63,975+35.8%

Participation rate

85.8%

74.9%+10.9pp

81.4%+4.4pp

71.1%+14.7pp

Annual return

34.73%

15.74%+19.0pp

47.52%-12.8pp

48.65%-13.9pp

Employer contribution / active EE

$1,270

$3,076-58.7%

$4,617-72.5%

$2,182-41.8%

Participant deferral / active EE

$8,058

$5,667+42.2%

$5,984+34.7%

$3,356+140.1%

Admin fee / account holder

$75-88.9%

$8,357-99.9%

$70-88.2%

Provider

Service type

Compensation

MMA SECURITIES LLC2+ years

Filed as: MMC SECURITIES

Service code 17 · EIN 06-1685865

Pension Consulting

$31,250

GRANT THORNTON LLP1 year

Service code 10 · EIN 36-6055558

Accounting

$27,300

STRATEGIC ADVISORS, INC.2+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$20,869

UBS FINANCIAL SERVICES INC1 year

Service code 28 · EIN 13-2638166

Investment Management

$7,415

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Service code 37 · EIN 04-2647786

Loan Processing

-$64,525

OPEN TEXT, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OPEN TEXT, INC. 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