Retirement plan

OVERTURE PROMOTIONS INC. 401(K) PLAN

Name: OVERTURE PROMOTIONS INC. - OVERTURE PROMOTIONS INC. 401(K) PLAN (2022) Form 5500
Creator: OVERTURE PROMOTIONS INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OVERTURE PROMOTIONS INC. 401(K) PLAN, OVERTURE PROMOTIONS INC.

OVERTURE PROMOTIONS INC.EIN 85-3204725Plan #001PY 2022

595 N LAKEVIEW PARKWAY - VERNON HILLS, IL 60061224-424-4032overturepromotions.comLinkedIn201-500 employeesmarketing and advertising

Prospect flagsLow returnsHigh feesLow participationLow employer contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$5.3M

-15.8% from 2021

Total participants

205

+17.8% from 2021

Average account balance

$56,576

-13.1% from 2021

Annual return

-19.33%

-36.47 pp from 2021

Benchmarks

See 2,290 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants100-249

Cohort2,290 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$8.93M

Not enough data

1 years with asset history on file

Average account balance

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

$57K

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.

156

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.

56.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$891K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+16.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$271

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 COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$14,270
GALLAGHER FIDUCIARY ADVISORS, LLC1 year Filed as: GALLAGHER BENEFIT SERVICES INC DBA Service code 27 1100 SUPERIOR AVE STE 1700 · CLEVELAND, OH 44114	Advisory (Plan)	$8,553
KESTRA INVESTMENT SERVICES LLC2+ years Filed as: KESTRA ADVISORY SERVICES LLC Service code 27 5707 SWST PRKWY BLDG 2 · AUSTIN, TX 78735	Advisory (Plan)	$4,827
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	$2,001

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.

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

$29K

$153 / participant

Contract admin$29K100.0%

% of EOY assets

0.550%

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: MILLER COOPER AND CO, LTD
Auditor EIN: 362897372
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$56,576

$86,655-34.7%

$119,622-52.7%

$66,938-15.5%

Participation rate

41.9%

75.6%-33.7pp

79.3%-37.4pp

69.8%-27.9pp

Annual return

-19.33%

-8.00%-11.3pp

-14.98%-4.3pp

1.58%-20.9pp

Employer contribution / active EE

$225

$2,536-91.1%

$4,232-94.7%

$2,545-91.2%

Participant deferral / active EE

$2,985

$4,358-31.5%

$5,601-46.7%

$4,238-29.6%

Admin fee / account holder

$311

$755-58.8%

$10,328-97.0%

$594-47.5%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$14,270

GALLAGHER FIDUCIARY ADVISORS, LLC1 year

Filed as: GALLAGHER BENEFIT SERVICES INC DBA

Service code 27

1100 SUPERIOR AVE STE 1700 · CLEVELAND, OH 44114

Advisory (Plan)

$8,553

KESTRA INVESTMENT SERVICES LLC2+ years

Filed as: KESTRA ADVISORY SERVICES LLC

Service code 27

5707 SWST PRKWY BLDG 2 · AUSTIN, TX 78735

Advisory (Plan)

$4,827

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

$2,001

OVERTURE PROMOTIONS INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OVERTURE PROMOTIONS 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