Retirement plan

GOODWIN PROCTER LLP PARTNERSHIP PROFIT SHARING SAVINGS PLAN

Name: GOODWIN PROCTER LLP - GOODWIN PROCTER LLP PARTNERSHIP PROFIT SHARING SAVINGS PLAN (2019) Form 5500
Creator: GOODWIN PROCTER LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GOODWIN PROCTER LLP PARTNERSHIP PROFIT SHARING SAVINGS PLAN, GOODWIN PROCTER LLP

GOODWIN PROCTER LLPEIN 04-1378465Plan #001PY 2019

100 NORTHERN AVENUE - BOSTON, MA 02210617-570-1000gph.comLinkedIn51-200 employeeslaw practice

Other plans on this EIN

3 filings

#007Retirement-$175.9M assets #008Retirement-$59.4M assets #009Retirement-$59.4M assets

Prospect flagsLow returnsHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$601.5M

-12.1% from 2017

Total participants

2,267

-2.9% from 2017

Average account balance

$290,995

-8.8% from 2017

Annual return

4.21%

-4.33 pp from 2017

Benchmarks

See 733 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort733 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$985.46M

Not enough data

1 years with asset history on file

Average account balance

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

$338K

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.

2,917

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.

89.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$51.52M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$26K

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

+29.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13

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 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL4+ years Service code 37 · EIN 04-2647786	Loan Processing	$29,395

Plan features & details

Pension benefit codes2E2F2G2J2R2T3B

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.

Opportunity flags

3 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
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

$22K

$16 / participant

Other / not subdivided$22K100.0%

% of EOY assets

0.004%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CITRIN COOPERMAN & COMPANY, LLP
Auditor EIN: 222428965
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$290,995

$101,523+186.6%

$141,200+106.1%

$77,775+274.2%

Participation rate

86.1%

77.4%+8.7pp

82.5%+3.6pp

73.2%+12.9pp

Annual return

4.21%

56.22%-52.0pp

71.41%-67.2pp

32.58%-28.4pp

Employer contribution / active EE

$5,705

$3,341+70.7%

$4,736+20.4%

$2,504+127.8%

Participant deferral / active EE

$13,647

$6,434+112.1%

$6,710+103.4%

$3,966+244.1%

Admin fee / account holder

$11

$92-88.1%

$10,265-99.9%

$100-89.1%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL4+ years

Service code 37 · EIN 04-2647786

Loan Processing

$29,395

GOODWIN PROCTER LLP PARTNERSHIP PROFIT SHARING SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GOODWIN PROCTER LLP PARTNERSHIP PROFIT SHARING SAVINGS 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