Retirement plan

GOODWIN PROCTER LLP PARTNERSHIP PROFIT SHARING SAVINGS PLAN II

Name: GOODWIN PROCTER LLP - GOODWIN PROCTER LLP PARTNERSHIP PROFIT SHARING SAVINGS PLAN II (2020) 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 II, GOODWIN PROCTER LLP

GOODWIN PROCTER LLPEIN 04-1378465Plan #007PY 2020

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

Other plans on this EIN

3 filings

#001Retirement-$661.1M assets #008Retirement-$76.0M assets #009Retirement-$75.9M assets

Prospect flagsLow returnsCorrective distributions

How to read this page

Total assets (EOY)

$201.8M

-16.5% from 2017

Total participants

1,007

-0.8% from 2017

Average account balance

$216,719

-11.6% from 2017

Annual return

12.60%

-5.38 pp from 2017

Benchmarks

See 2,819 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort2,819 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$294.62M

Not enough data

1 years with asset history on file

Average account balance

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

$238K

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.

1,237

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.

87.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$19.86M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+29.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$23

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 3 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL5+ years Service code 37 · EIN 04-2647786	Loan Processing	$15,272
CITRIN COOPERMAN4 years Service code 10 · EIN 22-2428965	Accounting	$12,750
STRATEGIC ADVISORS, INC.1 year Service code 27 · EIN 04-2654524	Advisory (Plan)	$5,042

Plan features & details

Pension benefit codes2E2F2G2J2T3B2R

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

2 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).

Expense breakdown

Schedule H Part II

Admin total

$32K

$42 / participant

Investment mgmt$5K15.9%
Other / not subdivided$27K84.1%

% of EOY assets

0.016%

all-in expense ratio

Categories reported

1 / 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

$216,719

$100,801+115.0%

$149,751+44.7%

$73,415+195.2%

Participation rate

90.0%

77.7%+12.3pp

82.5%+7.5pp

72.2%+17.8pp

Annual return

12.60%

265.34%-252.7pp

276.71%-264.1pp

59.30%-46.7pp

Employer contribution / active EE

$11,688

$3,312+252.9%

$4,646+151.6%

$2,234+423.2%

Participant deferral / active EE

$4,643

$6,404-27.5%

$6,843-32.1%

$3,806+22.0%

Admin fee / account holder

$34

$181-81.2%

$9,312-99.6%

$158-78.5%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL5+ years

Service code 37 · EIN 04-2647786

Loan Processing

$15,272

CITRIN COOPERMAN4 years

Service code 10 · EIN 22-2428965

Accounting

$12,750

STRATEGIC ADVISORS, INC.1 year

Service code 27 · EIN 04-2654524

Advisory (Plan)

$5,042

GOODWIN PROCTER LLP PARTNERSHIP PROFIT SHARING SAVINGS PLAN II

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GOODWIN PROCTER LLP PARTNERSHIP PROFIT SHARING SAVINGS PLAN II

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