Retirement plan

FAEGRE DRINKER RETIREMENT SAVINGS PLAN 1

Name: FAEGRE DRINKER BIDDLE & REATH LLP - FAEGRE DRINKER RETIREMENT SAVINGS PLAN 1 (2023) 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 2023

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

Other plans on this EIN

1 filing

#033Retirement-$689.9M assets

Prospect flagsHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$716.9M

-4.7% from 2016

Total participants

1,997

+1.1% from 2016

Average account balance

$382,761

-5.3% from 2016

Annual return

19.92%

-6.69 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

$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 INC4 years Service code 26 · EIN 41-1611668	Advisory (Participants)	$158,195
CHARLES SCHWAB & CO., INC.2 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$81,245
HEMINGTON WEALTH MANAGEMENT LL2 years Filed as: HEMINGTON WEALTH MANAGEMENT Service code 26 · EIN 46-3425132	Advisory (Participants)	$79,682
RIVERBRIDGE PARTNERS9+ years Filed as: RIVERBRIDGE PARTNERS LLC Service code 26 · EIN 41-1930193	Advisory (Participants)	$30,205
SAVANT CAPITAL MANAGEMENT4 years Filed as: SAVANT CAPITAL LLC Service code 26 · EIN 45-3812777	Advisory (Participants)	$29,095
BERGER FINANCIAL GROUP INC4 years Service code 26 · EIN 41-1856827	Advisory (Participants)	$18,699
FISHER INVESTMENTS3 years Service code 26 · EIN 20-2480800	Advisory (Participants)	$15,929
SNS FINANCIAL GROUP LLC6 years Service code 26 · EIN 27-1489903	Advisory (Participants)	$15,525
VALUE WEALTH MANAGEMENT LLC4 years Service code 26 · EIN 20-8152542	Advisory (Participants)	$13,981
ALLODIUM INVESTMENT CONSULTANT8 years Service code 26 · EIN 20-2593707	Advisory (Participants)	$11,654

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

2 tripped

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

$503K

$381 / participant

Recordkeeping$81K16.1%
Investment mgmt$422K83.9%

% of EOY assets

0.070%

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: BAKER TILLY US, LLP
Auditor EIN: 301413443
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$382,761

$107,415+256.3%

$135,998+181.4%

$80,187+377.3%

Participation rate

90.6%

78.0%+12.6pp

81.9%+8.7pp

72.9%+17.7pp

Annual return

19.92%

91.99%-72.1pp

68.37%-48.5pp

40.40%-20.5pp

Employer contribution / active EE

$10,640

$3,878+174.3%

$4,860+118.9%

$2,980+257.1%

Participant deferral / active EE

$10,428

$8,189+27.3%

$7,761+34.4%

$5,016+107.9%

Admin fee / account holder

$269

$127+111.6%

$10,769-97.5%

$145+85.3%

Provider

Service type

Compensation

COMPASS CAPITAL MANAGEMENT INC4 years

Service code 26 · EIN 41-1611668

Advisory (Participants)

$158,195

CHARLES SCHWAB & CO., INC.2 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$81,245

HEMINGTON WEALTH MANAGEMENT LL2 years

Filed as: HEMINGTON WEALTH MANAGEMENT

Service code 26 · EIN 46-3425132

Advisory (Participants)

$79,682

RIVERBRIDGE PARTNERS9+ years

Filed as: RIVERBRIDGE PARTNERS LLC

Service code 26 · EIN 41-1930193

Advisory (Participants)

$30,205

SAVANT CAPITAL MANAGEMENT4 years

Filed as: SAVANT CAPITAL LLC

Service code 26 · EIN 45-3812777

Advisory (Participants)

$29,095

BERGER FINANCIAL GROUP INC4 years

Service code 26 · EIN 41-1856827

Advisory (Participants)

$18,699

FISHER INVESTMENTS3 years

Service code 26 · EIN 20-2480800

Advisory (Participants)

$15,929

SNS FINANCIAL GROUP LLC6 years

Service code 26 · EIN 27-1489903

Advisory (Participants)

$15,525

VALUE WEALTH MANAGEMENT LLC4 years

Service code 26 · EIN 20-8152542

Advisory (Participants)

$13,981

ALLODIUM INVESTMENT CONSULTANT8 years

Service code 26 · EIN 20-2593707

Advisory (Participants)

$11,654

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