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FORM 5500 DATA

O'Brien Automotive Team 401k Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/1995
  • Net Assets as of 12/31/2019 $7,118,941
  • Plan Number333
  • Plan Type Multiple Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants281
  • Retired or separated participants receiving benefits2
  • Other retired or separated participants entitled to future benefits34
  • Subtotal317
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits1
  • Total318
  • Total number of participants as of 01/01/2019355
  • Number of participants with account balances191
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested8

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address1601 Ft. Jesse Road Suite 200
  • CityNormal
  • StateIL
  • Zip61761
  • Telephone(309) 454-1222
  • EIN01-0631714
  • Industry Code441110
  • Named AdministratorJoe O'Brien

Audit Information

  • Audit StatusAudited
  • AuditorBoyer & Ritter
  • Auditor EIN23-1311005
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
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.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all 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 A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees 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 if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3D Master plan A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? Yes $54,082
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $500,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $2,088,364
Contributions $770,337
Cash Contributions $770,337
Cash from Employers $66,270
Cash from Participants $595,187
Others (including rollovers) $108,880
Noncash Contributions $0
Total Earnings on Investments $1,318,027
Total Interest $4,560
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $2,145
Interest from Other Investments $2,415
Total Dividends $0
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $1,313,467
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $0
Other Income $0
Expenses $819,265
Total Benefit Payments $775,501
Directly to participants or beneficiaries, including direct rollovers $775,501
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $30,202
Certain deemed distributions of participant loans $5,184
Interest expense $0
Total Administrative Expenses $8,378
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $6,298
Other Administrative Fees $2,080
Net Income $1,269,099
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $7,118,941 $5,849,842 21.69%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $66,278 $62,211 6.54%
Employer Contributions $66,270 $62,199 6.55%
Participant Contributions $0 $0 0.0%
Other Contributions $8 $12 -33.33%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $43,035 $54,677 -21.29%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $6,708,026 $5,463,184 22.79%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $0 $0 0.0%
Value of funds held in insurance co. general account $301,602 $269,770 11.80%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $7,118,941 $5,849,842 21.69%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Transamerica Financial Life Insuran

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Iron Financial, LLC Investment advisory (plan) Investment Advisory- Plan $6,298 $0 $6,298
Transamerica Financial Life Insuran Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Investment management fees paid indirectly by plan, Float revenue, Recordkeeping fees, Other insurance wrap fees Recordkeeper $2,080 $0 $2,080
Total $8,378 $0 $8,378

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Columbia Balanced Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $1,641,783
Vanguard Lifestrategy Growth Ret Ac Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $1,408,063
Pioneer Select Mid Cap Growth Ret A Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $984,883
Vanguard Total Stock Market Index R Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $475,377
American Funds 2035 Target Date Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $447,166
Hartford International Opps Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $264,283
Blackrock Total Return Ret Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $191,362
Ta Vanguard Lifestrat Conserv Gr Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $172,009
American Funds 2010 Target Date Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $158,025
Mfs Massachusetts Inv Gr Stk Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $151,426
American Funds 2020 Target Date Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $145,241
American Funds 2055 Target Date Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $137,155
Vanguard Small-Cap Index Ret Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $120,237
American Funds 2050 Target Date Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $100,737
American Funds 2045 Target Date Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $95,251
American Funds 2015 Target Date Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $58,567
American Funds 2025 Target Date Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $42,163
American Funds 2040 Target Date Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $32,973
Jpmorgan Equity Income Ret Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $22,700
American Funds 2030 Target Date Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $21,896
Americans New World Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $16,976
American Funds 2060 Target Date Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $13,108
Dfa Infl-Protected Sec Portfolio Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $2,438
Federated Institutional High Yield Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $1,407
Blackrock Strategic Inc Opp Port Re Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $1,104
Goldman Sachs Intnl Small Cap Insig Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $1,055
Invesco Convertible Securities Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $511
Alliancebern Global Bond Ret Acct Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $62
Columbia Us Government Mortgage Ret Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $43
Ta Vanguard Real Estate Index Ret A Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $25
American Funds Growth Fund of Ameri Transamerica Financial Life Ins. Co. DFE: Pooled Separate Account $0
Total $6,708,026

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Transamerica Financial Life Insurance Company 191
EIN 36-6071399
Industry Code 70688
Contract Number 932460
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $301,602
Value in Separate Accounts at Year End $6,708,026
Insurance Fees and Commissions $3,426
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Nfp Insurance Services, Inc Amalia M Beer Austin, TX 78746 Insurance Agent or Broker $3,426 $0
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract STABLE VALUE OPTION
Balance at the end of the previous year $269,770
Additions $46,081
Contributions Deposited during the year $8,974
Dividends and credits $0
Interest credited during the year $2,415
Transferred from separate account $17,000
Other $17,692
Total of Balance and Additions $315,851
Deductions $14,249
Disbursed from fund to pay benefits or purchase annuities during the year $240
Administration charge made by carrier $67
Transferred to Separate Account $54
Other $13,888
Balance at the end of the current year $301,602