# Open Bank 401(k) Plan
Source: https://planprovider.pro/companies/open-bank-401k-plan

> Open Bank's 401(k) plan: 232 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Open Bank

- **Sponsor EIN:** 202274763

- **Sponsor Address:** 1000 WILSHIRE BLVD. SUITE 500, LOS ANGELES, CA, 90017

- **Plan Type:** 401(k)

- **Total Participants:** 232

- **Total Assets:** $23.2M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** Yes

- **ERISA Section 404(c) Fiduciary Safe Harbor:** Yes

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|232|$23.2M|$1.1M|$2.1M|

| 2023|208|$18.9M|$982,303|$1.7M|

| 2022|206|$15.2M|$849,388|$1.5M|

## Service Providers (Schedule C)

Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).

| Provider Name|
Role|
Direct Compensation|
Indirect Compensation|
Total Fees|

| FIDELITY INVESTMENTS INSTITUTIONAL|RECORDKEEPER|$30,307|—|$30,307|

| CONCURRENT INVESTMENT ADVISORS LLC|ADVISOR|$12,500|—|$12,500|

| STRATEGIC ADVISORS, INC.|ADVISOR|$9,837|—|$9,837|

| WIPFLI LLP|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [FIDELITY INVESTMENTS INSTITUTIONAL](https://planprovider.pro/provider/fidelity-investments) — RECORDKEEPER

- [CONCURRENT INVESTMENT ADVISORS LLC](https://planprovider.pro/provider/concurrent-investment-advisors-llc) — ADVISOR

- [STRATEGIC ADVISORS, INC.](https://planprovider.pro/provider/creative-planning) — ADVISOR

- [WIPFLI LLP](https://planprovider.pro/provider/wipfli-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $52,644

- **Estimated Expense Ratio:** 0.227% of plan assets

### Historical Administrative Expenses

Breakdown of administrative expense categories reported on Form 5500 filings.

| Year|
Total Admin Expenses|
Investment Mgmt Fees|
Contract Admin Fees|
IQPA Audit Fees|
Professional Fees|

| 2024|$52,644|$22,337|—|—|—|

| 2023|$58,840|$19,362|—|—|—|

| 2022|$63,706|$3,853|—|—|—|

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