Retirement plan

K&L GATES 401(K) PLAN BETA

Name: K&L GATES LLP - K&L GATES 401(K) PLAN BETA (2023) Form 5500
Creator: K&L GATES LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, K&L GATES 401(K) PLAN BETA, K&L GATES LLP

K&L GATES LLPEIN 25-0921018Plan #003PY 2023

210 SIXTH AVENUE - PITTSBURGH, PA 152222613412-355-6500klgates.comLinkedIn1001-5000 employeeslaw practice

Other plans on this EIN

3 filings

#002Retirement-$836.3M assets #008Retirement-$41.6M assets #015Retirement-$41.6M assets

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$450.3M

-4.4% from 2016

Total participants

2,059

+4.6% from 2016

Average account balance

$230,683

-7.8% from 2016

Annual return

20.99%

-6.37 pp from 2016

Benchmarks

See 928 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort928 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$506.71M

Not enough data

1 years with asset history on file

Average account balance

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

$262K

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.

1,932

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.

91.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$22.40M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+15.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$83

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 6 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL3 years Filed as: FIDELITY INV INST OPERATIONS Service code 37 · EIN 04-2647786	Loan Processing	$100,075
FIDUCIENT ADVISORS LLC3 years Filed as: FIDUCIENT ADVISORS Service code 16 · EIN 36-4001764	Consulting	$52,142
HENRY H. ARMSTRONG9+ years Service code 26 · EIN 25-1440756	Advisory (Participants)	$30,098
SCHNEIDER DOWNS & CO., INC.9+ years Service code 10 · EIN 25-1408703 ONE PPG PLACE, SUITE 1700 · PITTSBURGH, PA 155555416	Accounting	$20,708
CIBC PRIVATE WEALTH ADVISORS I1 year Filed as: CIBC ATLANTIC TR PRIVATE W.M. Service code 26 · EIN 20-0822261	Advisory (Participants)	$16,214
JPMORGAN INVEST HOLDINGS LLC3 years Filed as: CHEVY CHASE TRUST COMPANY Service code 26 · EIN 52-2037618	Advisory (Participants)	$9,549

Plan features & details

Pension benefit codes2A2E2F2G2J2R3B3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
3B
Plan covering self-employed individuals
Plan covering self-employed individuals.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$174K

$122 / participant

Recordkeeping$44K25.6%
Investment mgmt$108K62.1%
Other / not subdivided$21K12.4%

% of EOY assets

0.039%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SCHNEIDER DOWNS & CO., INC.
Auditor EIN: 251408703
Audit fees: $21,495
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$230,683

$107,415+114.8%

$135,998+69.6%

$80,187+187.7%

Participation rate

92.5%

78.0%+14.5pp

81.9%+10.6pp

72.9%+19.6pp

Annual return

20.99%

91.99%-71.0pp

68.37%-47.4pp

40.40%-19.4pp

Employer contribution / active EE

$5,923

$3,878+52.7%

$4,860+21.9%

$2,980+98.8%

Participant deferral / active EE

$9,381

$8,189+14.6%

$7,761+20.9%

$5,016+87.0%

Admin fee / account holder

$89

$127-29.8%

$10,769-99.2%

$145-38.5%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL3 years

Filed as: FIDELITY INV INST OPERATIONS

Service code 37 · EIN 04-2647786

Loan Processing

$100,075

FIDUCIENT ADVISORS LLC3 years

Filed as: FIDUCIENT ADVISORS

Service code 16 · EIN 36-4001764

Consulting

$52,142

HENRY H. ARMSTRONG9+ years

Service code 26 · EIN 25-1440756

Advisory (Participants)

$30,098

SCHNEIDER DOWNS & CO., INC.9+ years

Service code 10 · EIN 25-1408703

ONE PPG PLACE, SUITE 1700 · PITTSBURGH, PA 155555416

Accounting

$20,708

CIBC PRIVATE WEALTH ADVISORS I1 year

Filed as: CIBC ATLANTIC TR PRIVATE W.M.

Service code 26 · EIN 20-0822261

Advisory (Participants)

$16,214

JPMORGAN INVEST HOLDINGS LLC3 years

Filed as: CHEVY CHASE TRUST COMPANY

Service code 26 · EIN 52-2037618

Advisory (Participants)

$9,549

K&L GATES 401(K) PLAN BETA

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

K&L GATES 401(K) PLAN BETA

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