Retirement plan

FAEGRE DRINKER RETIREMENT SAVINGS PLAN 1

Name: FAEGRE DRINKER BIDDLE & REATH LLP - FAEGRE DRINKER RETIREMENT SAVINGS PLAN 1 (2022) Form 5500
Creator: FAEGRE DRINKER BIDDLE & REATH LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FAEGRE DRINKER RETIREMENT SAVINGS PLAN 1, FAEGRE DRINKER BIDDLE & REATH LLP

FAEGRE DRINKER BIDDLE & REATH LLPEIN 41-0244008Plan #002PY 2022

2200 WELLS FARGO CENTER, 90 SOUTH 7TH STREET - MINNEAPOLIS, MN 55402612-766-7000

Other plans on this EIN

1 filing

#033Retirement-$590.7M assets

Prospect flagsLow returnsHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$623M

-4.7% from 2016

Total participants

2,030

+1.1% from 2016

Average account balance

$331,202

-5.3% from 2016

Annual return

-18.04%

-6.69 pp from 2016

Benchmarks

See 900 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort900 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$768.21M

Not enough data

1 years with asset history on file

Average account balance

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

$415K

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.

1,850

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.

91.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$29.73M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$23K

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

+15.75%

Not enough data

1 years with return on file

Admin fee / account holder

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

$327

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 10 of 16 by compensation

Provider	Service type	Compensation
COMPASS CAPITAL MANAGEMENT INC3 years Service code 26 · EIN 41-1611668	Advisory (Participants)	$165,103
CHARLES SCHWAB & CO., INC.1 year Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$79,419
HEMINGTON WEALTH MANAGEMENT LL1 year Filed as: HEMINGTON WEALTH MANAGEMENT Service code 26 · EIN 46-3425132	Advisory (Participants)	$60,933
RIVERBRIDGE PARTNERS8+ years Filed as: RIVERBRIDGE PARTNERS LLC Service code 26 · EIN 41-1930193	Advisory (Participants)	$32,383
SAVANT CAPITAL MANAGEMENT1 year Filed as: SAVANT WEALTH MANAGEMENT Service code 26 · EIN 36-3859937	Advisory (Participants)	$29,194
BERGER FINANCIAL GROUP INC3 years Service code 26 · EIN 41-1856827	Advisory (Participants)	$18,245
FISHER INVESTMENTS2 years Service code 26 · EIN 20-2480800	Advisory (Participants)	$15,262
SNS FINANCIAL GROUP LLC5 years Service code 26 · EIN 27-1489903	Advisory (Participants)	$14,819
CAPITAL MGMT SERVICES INC3 years Service code 26 · EIN 43-1410129	Advisory (Participants)	$14,266
BERGANKDV LTD3 years Filed as: BERGANKDV WEALTH MGMT LLC Service code 26 · EIN 20-8172864	Advisory (Participants)	$12,591

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

$489K

$359 / participant

Investment mgmt$412K84.3%
Other / not subdivided$77K15.7%

% of EOY assets

0.078%

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: BAKER TILLY
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$331,202

$95,388+247.2%

$125,401+164.1%

$77,906+325.1%

Participation rate

89.1%

78.6%+10.5pp

82.4%+6.7pp

73.7%+15.4pp

Annual return

-18.04%

116.19%-134.2pp

572.53%-590.6pp

12.16%-30.2pp

Employer contribution / active EE

$9,500

$3,666+159.1%

$4,816+97.3%

$2,846+233.8%

Participant deferral / active EE

$9,799

$7,711+27.1%

$7,448+31.6%

$4,805+103.9%

Admin fee / account holder

$260

$119+118.7%

$10,008-97.4%

$133+96.1%

Provider

Service type

Compensation

COMPASS CAPITAL MANAGEMENT INC3 years

Service code 26 · EIN 41-1611668

Advisory (Participants)

$165,103

CHARLES SCHWAB & CO., INC.1 year

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$79,419

HEMINGTON WEALTH MANAGEMENT LL1 year

Filed as: HEMINGTON WEALTH MANAGEMENT

Service code 26 · EIN 46-3425132

Advisory (Participants)

$60,933

RIVERBRIDGE PARTNERS8+ years

Filed as: RIVERBRIDGE PARTNERS LLC

Service code 26 · EIN 41-1930193

Advisory (Participants)

$32,383

SAVANT CAPITAL MANAGEMENT1 year

Filed as: SAVANT WEALTH MANAGEMENT

Service code 26 · EIN 36-3859937

Advisory (Participants)

$29,194

BERGER FINANCIAL GROUP INC3 years

Service code 26 · EIN 41-1856827

Advisory (Participants)

$18,245

FISHER INVESTMENTS2 years

Service code 26 · EIN 20-2480800

Advisory (Participants)

$15,262

SNS FINANCIAL GROUP LLC5 years

Service code 26 · EIN 27-1489903

Advisory (Participants)

$14,819

CAPITAL MGMT SERVICES INC3 years

Service code 26 · EIN 43-1410129

Advisory (Participants)

$14,266

BERGANKDV LTD3 years

Filed as: BERGANKDV WEALTH MGMT LLC

Service code 26 · EIN 20-8172864

Advisory (Participants)

$12,591

FAEGRE DRINKER RETIREMENT SAVINGS PLAN 1

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAEGRE DRINKER RETIREMENT SAVINGS PLAN 1

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