Retirement plan

FAEGRE DRINKER RETIREMENT SAVINGS PLAN 2

Name: FAEGRE DRINKER BIDDLE & REATH LLP - FAEGRE DRINKER RETIREMENT SAVINGS PLAN 2 (2024) 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 2, FAEGRE DRINKER BIDDLE & REATH LLP

FAEGRE DRINKER BIDDLE & REATH LLPEIN 41-0244008Plan #033PY 2024

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

Other plans on this EIN

1 filing

#002Retirement-$768.2M assets

Prospect flagsHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$772.7M

+12.0% from 2023

Total participants

1,928

-1.7% from 2023

Average account balance

$430,707

+13.3% from 2023

Annual return

15.97%

-3.94 pp from 2023

Benchmarks

See 949 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort949 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$772.69M

Not enough data

1 years with asset history on file

Average account balance

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

$431K

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.

1,794

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.

89.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$28.80M

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

+15.97%

Not enough data

1 years with return on file

Admin fee / account holder

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

$281

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 18 by compensation

Provider	Service type	Compensation
COMPASS CAPITAL MANAGEMENT INC4 years Service code 26 · EIN 41-1611668	Advisory (Participants)	$152,512
CHARLES SCHWAB & CO., INC.3 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$80,585
RIVERBRIDGE PARTNERS4 years Filed as: RIVERBRIDGE PARTNERS LLC Service code 26 · EIN 41-1930193	Advisory (Participants)	$76,392
ALPHA OMEGA FINANCIAL ADVISORY1 year Service code 26 · EIN 86-2466147	Advisory (Participants)	$27,600
HEMINGTON WEALTH MANAGEMENT LL1 year Service code 26 · EIN 46-3425132	Advisory (Participants)	$26,960
HURLOW WEALTH MANAGEMENT GROUP4 years Filed as: HURLOW WEALTH MGMT GROUP INC Service code 26 · EIN 36-4510648	Advisory (Participants)	$22,713
PRIVATE ADVISOR GROUP LLC4 years Filed as: PRIVATE CAPITAL MANAGEMENT LLC Service code 26 · EIN 37-1711781	Advisory (Participants)	$21,010
CAPITAL MGMT SERVICES INC3 years Service code 26 · EIN 43-1410129	Advisory (Participants)	$13,429
TRADITION WEALTH MANAGEMENT LLC3 years Filed as: TRADITION WEALTH MANAGEMENT LL Service code 26 · EIN 42-1577774	Advisory (Participants)	$12,648
TOTAL WEALTH PLANNING LLC3 years Service code 26 · EIN 47-0988610	Advisory (Participants)	$12,399

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3B

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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

$504K

$395 / participant

Recordkeeping$81K16.0%
Investment mgmt$423K84.0%

% of EOY assets

0.065%

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

$430,707

$122,219+252.4%

$147,096+192.8%

$199,921+115.4%

Participation rate

89.5%

78.3%+11.2pp

82.2%+7.3pp

72.0%+17.5pp

Annual return

15.97%

30.59%-14.6pp

419.75%-403.8pp

34.28%-18.3pp

Employer contribution / active EE

$11,429

$4,096+179.0%

$4,936+131.5%

$3,035+276.5%

Participant deferral / active EE

$11,180

$8,503+31.5%

$8,071+38.5%

$5,089+119.7%

Admin fee / account holder

$281

$179+56.7%

$13,005-97.8%

$269+4.3%

Provider

Service type

Compensation

COMPASS CAPITAL MANAGEMENT INC4 years

Service code 26 · EIN 41-1611668

Advisory (Participants)

$152,512

CHARLES SCHWAB & CO., INC.3 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$80,585

RIVERBRIDGE PARTNERS4 years

Filed as: RIVERBRIDGE PARTNERS LLC

Service code 26 · EIN 41-1930193

Advisory (Participants)

$76,392

ALPHA OMEGA FINANCIAL ADVISORY1 year

Service code 26 · EIN 86-2466147

Advisory (Participants)

$27,600

HEMINGTON WEALTH MANAGEMENT LL1 year

Service code 26 · EIN 46-3425132

Advisory (Participants)

$26,960

HURLOW WEALTH MANAGEMENT GROUP4 years

Filed as: HURLOW WEALTH MGMT GROUP INC

Service code 26 · EIN 36-4510648

Advisory (Participants)

$22,713

PRIVATE ADVISOR GROUP LLC4 years

Filed as: PRIVATE CAPITAL MANAGEMENT LLC

Service code 26 · EIN 37-1711781

Advisory (Participants)

$21,010

CAPITAL MGMT SERVICES INC3 years

Service code 26 · EIN 43-1410129

Advisory (Participants)

$13,429

TRADITION WEALTH MANAGEMENT LLC3 years

Filed as: TRADITION WEALTH MANAGEMENT LL

Service code 26 · EIN 42-1577774

Advisory (Participants)

$12,648

TOTAL WEALTH PLANNING LLC3 years

Service code 26 · EIN 47-0988610

Advisory (Participants)

$12,399

FAEGRE DRINKER RETIREMENT SAVINGS PLAN 2

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FAEGRE DRINKER RETIREMENT SAVINGS PLAN 2

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