Retirement plan

OPEN TEXT, INC. 401(K) PLAN

Name: OPEN TEXT, INC. - OPEN TEXT, INC. 401(K) PLAN (2019) 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 2019

2950 SOUTH DELAWARE STREET, SUITE 400 - SAN MATEO, CA 94404773-632-1400openxeducation.comLinkedIn11-50 employeescomputer software

Prospect flagsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$670.4M

-25.0% from 2016

Total participants

6,048

-27.1% from 2016

Average account balance

$122,067

+2.2% from 2016

Annual return

92.12%

-33.43 pp from 2016

Benchmarks

See 733 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort733 peers

Snapshot2019

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 6 by compensation

Provider	Service type	Compensation
MERCER2 years Filed as: MERCER INVESTMENT MANAGEMENT Service code 17 · EIN 30-0282430	Pension Consulting	$156,361
FIDELITY INVESTMENTS INSTITUTIONAL5+ years Service code 37 · EIN 04-2647786	Loan Processing	$125,253
STRATEGIC ADVISORS, INC.5+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$118,868
GRANT THORNTON LLP4 years Service code 10 · EIN 36-6055558	Accounting	$103,250
VEDDER PRICE2 years Filed as: VEDDERPRICE Service code 29 · EIN 36-3254526	Legal	$40,471
PENSIONMARK FINANCIAL GROUP LLC1 year Filed as: SEQUOIA / PENSIONMARK FINANCIAL GR Service code 27 · EIN 61-1758632	Advisory (Plan)	$7,491

Plan features & details

Pension benefit codes2E2F2G2J2K2T3F3H3D

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
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

2 tripped

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

$552K

$150 / participant

Investment mgmt$119K21.5%
Other / not subdivided$433K78.5%

% of EOY assets

0.082%

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

$122,067

$101,523+20.2%

$141,200-13.6%

$77,775+56.9%

Participation rate

84.9%

77.4%+7.5pp

82.5%+2.4pp

73.2%+11.7pp

Annual return

92.12%

56.22%+35.9pp

71.41%+20.7pp

32.58%+59.5pp

Employer contribution / active EE

$767

$3,341-77.0%

$4,736-83.8%

$2,504-69.4%

Participant deferral / active EE

$9,477

$6,434+47.3%

$6,710+41.2%

$3,966+139.0%

Admin fee / account holder

$100

$92+9.7%

$10,265-99.0%

$100+0.4%

Provider

Service type

Compensation

MERCER2 years

Filed as: MERCER INVESTMENT MANAGEMENT

Service code 17 · EIN 30-0282430

Pension Consulting

$156,361

FIDELITY INVESTMENTS INSTITUTIONAL5+ years

Service code 37 · EIN 04-2647786

Loan Processing

$125,253

STRATEGIC ADVISORS, INC.5+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$118,868

GRANT THORNTON LLP4 years

Service code 10 · EIN 36-6055558

Accounting

$103,250

VEDDER PRICE2 years

Filed as: VEDDERPRICE

Service code 29 · EIN 36-3254526

Legal

$40,471

PENSIONMARK FINANCIAL GROUP LLC1 year

Filed as: SEQUOIA / PENSIONMARK FINANCIAL GR

Service code 27 · EIN 61-1758632

Advisory (Plan)

$7,491

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