Retirement plan

GOODWIN PROCTER LLP PARTNERSHIP PROFIT SHARING SAVINGS PLAN II

Name: GOODWIN PROCTER LLP - GOODWIN PROCTER LLP PARTNERSHIP PROFIT SHARING SAVINGS PLAN II (2022) 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 2022

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

Other plans on this EIN

3 filings

#001Retirement-$650.0M assets #008Retirement-$82.7M assets #009Retirement-$82.7M assets

Prospect flagsLow returnsFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$188.8M

-16.5% from 2017

Total participants

1,243

-0.8% from 2017

Average account balance

$177,809

-11.6% from 2017

Annual return

-19.47%

-5.38 pp from 2017

Benchmarks

See 3,158 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,158 peers

Snapshot2022

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 2 by compensation

Provider	Service type	Compensation
STRATEGIC ADVISORS, INC.3 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$9,762
FIDELITY INVESTMENTS INSTITUTIONAL7+ years Service code 37 · EIN 04-2647786	Loan Processing	$9,750

Plan features & details

Pension benefit codes2E2G2J2T3B2R2F

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.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$18K

$18 / participant

Investment mgmt$10K55.3%
Other / not subdivided$8K44.7%

% of EOY assets

0.009%

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

$177,809

$82,188+116.3%

$125,401+41.8%

$64,829+174.3%

Participation rate

81.6%

77.9%+3.7pp

82.4%-0.8pp

71.5%+10.1pp

Annual return

-19.47%

3.50%-23.0pp

572.53%-592.0pp

32.85%-52.3pp

Employer contribution / active EE

$10,241

$3,617+183.1%

$4,816+112.6%

$2,507+308.5%

Participant deferral / active EE

$4,646

$7,177-35.3%

$7,448-37.6%

$4,312+7.8%

Admin fee / account holder

$17

$163-89.8%

$10,008-99.8%

$188-91.2%

Provider

Service type

Compensation

STRATEGIC ADVISORS, INC.3 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$9,762

FIDELITY INVESTMENTS INSTITUTIONAL7+ years

Service code 37 · EIN 04-2647786

Loan Processing

$9,750

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