Retirement plan

OVERLAND WEST, INC. 401(K) PROFIT SHARING PLAN

Name: OVERLAND WEST, INC. - OVERLAND WEST, INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: OVERLAND WEST, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OVERLAND WEST, INC. 401(K) PROFIT SHARING PLAN, OVERLAND WEST, INC.

OVERLAND WEST, INC.EIN 87-0440922Plan #001PY 2024

2805 WASHINGTON BOULEVARD - OGDEN, UT 84401801-337-5235overlandwest.comLinkedIn201-500 employeesautomotive

Prospect flagsLow returnsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$36.6M

-0.7% from 2023

Total participants

320

-20.4% from 2023

Average account balance

$114,821

+3.4% from 2023

Annual return

8.76%

-5.59 pp from 2023

Benchmarks

See 2,310 peers

Peer group

Industry44 - Retail Trade

Plan typeDefined contribution

Participants100-249

Cohort2,310 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$36.63M

Not enough data

1 years with asset history on file

Average account balance

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

$115K

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.

319

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.

99.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+8.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$487

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
MERRILL LYNCH PIERCE FENNER & SMITH3 years Service code 15 · EIN 13-5674085	Recordkeeping	$58,704
ADP BROKER-DEALER1 year Filed as: ADP, INC. Service code 15 · EIN 13-3036745	Recordkeeping	$42,617
MORNINGSTAR1 year Filed as: MORNINGSTAR RETIREMENT MANAGER Service code 26 22 W WASHINGTON STREET · CHICAGO, IL 60602	Advisory (Participants)	$540
ADP BROKER-DEALER1 year Service code 49 · EIN 22-3319984	Other Services	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 tripped

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.
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$155K

$634 / participant

Recordkeeping$97K62.2%
Investment mgmt$59K37.8%

% of EOY assets

0.424%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: EIDE BAILLY LLP
Auditor EIN: 450250958
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$114,821

$59,448+93.1%

$93,696+22.5%

$74,459+54.2%

Participation rate

99.6%

59.6%+40.0pp

68.7%+30.9pp

67.2%+32.4pp

Annual return

8.76%

82.11%-73.3pp

133.74%-125.0pp

1369.70%-1360.9pp

Employer contribution / active EE

$2,528

$1,266+99.6%

$2,422+4.4%

$2,626-3.7%

Participant deferral / active EE

$4,573

$3,052+49.8%

$4,417+3.5%

$4,350+5.1%

Admin fee / account holder

$487

$3,027-83.9%

$8,287-94.1%

$1,945-75.0%

Provider

Service type

Compensation

MERRILL LYNCH PIERCE FENNER & SMITH3 years

Service code 15 · EIN 13-5674085

Recordkeeping

$58,704

ADP BROKER-DEALER1 year

Filed as: ADP, INC.

Service code 15 · EIN 13-3036745

Recordkeeping

$42,617

MORNINGSTAR1 year

Filed as: MORNINGSTAR RETIREMENT MANAGER

Service code 26

22 W WASHINGTON STREET · CHICAGO, IL 60602

Advisory (Participants)

$540

ADP BROKER-DEALER1 year

Service code 49 · EIN 22-3319984

Other Services

OVERLAND WEST, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OVERLAND WEST, INC. 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