Retirement plan
LATHAM & WATKINS 401(K) SAVINGS AND PROFIT SHARING PLAN
LATHAM & WATKINS LLPEIN 95-2018373Plan #001PY 2023
555 WEST FIFTH STREET, SUITE 300 - LOS ANGELES, CA 900131021213-891-1200
Other plans on this EIN
1 filingProspect flagsHigh assets / participantCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
BOBBY KOLB
Signed 09/11/2024
Summary metrics
Total assets (EOY)
$2673.8M
-9.6% from 2016
Total participants
7,923
-2.9% from 2016
Average account balance
$340,432
-7.0% from 2016
Annual return
20.76%
-10.83 pp from 2016
Benchmarks
Peer group
Industry54 - Professional, Scientific, and Technical Services
Plan typeDefined contribution
Participants1,000-4,999
Cohort928 peers
Snapshot2023
95
Participant deferral / active EE
$20,808
median $8,331
87
Employer contribution / active EE
$11,059
median $2,827
90
Participation rate
98.5%
median 91.1%
96
Avg account balance
$340,432
median $78,482
23
Admin fee / account holder
$145
median $91
48
Annual return
20.76%
median 20.94%
Overall peer rank
73of 100
73rd percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$3.07B
Average account balance
Total assets / participants with a balance (line 6g)
$383K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
8,020
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
98.2%
Contributions (total)
Employer and participant dollars contributed each year
$160.14M
Contributions per participant
Average employer and participant contribution per enrolled participant
$33K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+15.63%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$170
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 10 of 31 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 34-1479833 | Recordkeeping | $186,755 |
LMCG INVESTMENTS LLC9+ years Service code 26 · EIN 27-0282607 | Advisory (Participants) | $159,481 |
CHEVY CHASE TRUST COMPANY6 years Service code 26 · EIN 52-2037618 | Advisory (Participants) | $127,349 |
SAGE ADVISORY GROUP3 years Service code 28 · EIN 33-0818667 | Investment Management | $105,000 |
Service code 26 · EIN 84-3582920 | Advisory (Participants) | $88,081 |
PIETZSCH BONNETT & WOMACK PA5 years Service code 29 · EIN 81-0574082 | Legal | $43,519 |
HIGHTOWER ADVISORS LLC3 years Service code 26 · EIN 36-4500709 | Advisory (Participants) | $43,047 |
CHICAGO WEALTH MANAGEMENT INC9+ years Service code 26 · EIN 20-1255704 | Advisory (Participants) | $34,558 |
SRS CAPITAL ADVISORS INC3 years Service code 26 · EIN 20-5519650 | Advisory (Participants) | $32,404 |
RNC GENTER CAPITAL MANAGEMENT9+ years Service code 26 · EIN 95-4670255 | Advisory (Participants) | $26,950 |
Plan features & details
Pension benefit codes2E2F2G2J2R2S2T
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants 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.
- 2JCode section 401(k) featureCash 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.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
Opportunity flags
2 tripped
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
- InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.
Expense breakdown
Schedule H Part II
Admin total
$1.1M
$241 / participant
- Recordkeeping$26K2.2%
- Investment mgmt$1M92.2%
- Contract admin$63K5.6%
% of EOY assets
0.043%
all-in expense ratio
Categories reported
3 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- HOLTHOUSE CARLIN & VAN TRIGT LLP
- Auditor EIN
- 954345526
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified