Retirement plan

FAEGRE DRINKER RETIREMENT SAVINGS PLAN 2

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

FAEGRE DRINKER BIDDLE & REATH LLPEIN 41-0244008Plan #033PY 2023

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

Other plans on this EIN

1 filing

#002Retirement-$716.9M assets

Prospect flagsHigh assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$689.9M

+16.8% from 2022

Total participants

1,962

-0.9% from 2022

Average account balance

$380,108

+17.4% from 2022

Annual return

19.90%

+38.40 pp from 2022

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

$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 16 by compensation

Provider	Service type	Compensation
COMPASS CAPITAL MANAGEMENT INC3 years Service code 26 · EIN 41-1611668	Advisory (Participants)	$122,157
CHARLES SCHWAB & CO., INC.2 years Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC Service code 15 · EIN 34-1479833	Recordkeeping	$81,239
RIVERBRIDGE PARTNERS3 years Filed as: RIVERBRIDGE PARTNERS LLC Service code 26 · EIN 41-1930193	Advisory (Participants)	$64,988
PRIVATE ADVISOR GROUP LLC3 years Filed as: PRIVATE CAPITAL MANAGEMENT LLC Service code 26 · EIN 37-1711781	Advisory (Participants)	$41,489
HURLOW WEALTH MANAGEMENT GROUP3 years Filed as: HURLOW WEALTH MGMT GROUP INC Service code 26 · EIN 36-4510648	Advisory (Participants)	$20,146
TOTAL WEALTH PLANNING LLC2 years Service code 26 · EIN 47-0988610	Advisory (Participants)	$12,116
CAPITAL MGMT SERVICES INC2 years Service code 26 · EIN 43-1410129	Advisory (Participants)	$11,704
ALPHA OMEGA FINANCIAL ADVISORY1 year Filed as: ALPHA OMEGA FINANCIAL INC Service code 26 · EIN 86-2466147	Advisory (Participants)	$11,605
TRADITION WEALTH MANAGEMENT LLC2 years Filed as: TRADITION WEALTH MANAGEMENT LL Service code 26 · EIN 42-1577774	Advisory (Participants)	$9,800
CHICAGO PARTNERS INVESTMENT GR2 years Service code 26 · EIN 26-2835793	Advisory (Participants)	$8,771

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

$420K

$321 / participant

Recordkeeping$81K19.4%
Investment mgmt$338K80.6%

% of EOY assets

0.061%

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

$380,108

$107,415+253.9%

$135,974+179.5%

$80,157+374.2%

Participation rate

88.8%

78.0%+10.7pp

81.9%+6.8pp

72.9%+15.8pp

Annual return

19.90%

91.99%-72.1pp

68.30%-48.4pp

40.39%-20.5pp

Employer contribution / active EE

$10,726

$3,878+176.6%

$4,859+120.8%

$2,977+260.3%

Participant deferral / active EE

$10,266

$8,189+25.4%

$7,760+32.3%

$5,015+104.7%

Admin fee / account holder

$231

$127+82.0%

$10,767-97.9%

$145+59.5%

Provider

Service type

Compensation

COMPASS CAPITAL MANAGEMENT INC3 years

Service code 26 · EIN 41-1611668

Advisory (Participants)

$122,157

CHARLES SCHWAB & CO., INC.2 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES,INC

Service code 15 · EIN 34-1479833

Recordkeeping

$81,239

RIVERBRIDGE PARTNERS3 years

Filed as: RIVERBRIDGE PARTNERS LLC

Service code 26 · EIN 41-1930193

Advisory (Participants)

$64,988

PRIVATE ADVISOR GROUP LLC3 years

Filed as: PRIVATE CAPITAL MANAGEMENT LLC

Service code 26 · EIN 37-1711781

Advisory (Participants)

$41,489

HURLOW WEALTH MANAGEMENT GROUP3 years

Filed as: HURLOW WEALTH MGMT GROUP INC

Service code 26 · EIN 36-4510648

Advisory (Participants)

$20,146

TOTAL WEALTH PLANNING LLC2 years

Service code 26 · EIN 47-0988610

Advisory (Participants)

$12,116

CAPITAL MGMT SERVICES INC2 years

Service code 26 · EIN 43-1410129

Advisory (Participants)

$11,704

ALPHA OMEGA FINANCIAL ADVISORY1 year

Filed as: ALPHA OMEGA FINANCIAL INC

Service code 26 · EIN 86-2466147

Advisory (Participants)

$11,605

TRADITION WEALTH MANAGEMENT LLC2 years

Filed as: TRADITION WEALTH MANAGEMENT LL

Service code 26 · EIN 42-1577774

Advisory (Participants)

$9,800

CHICAGO PARTNERS INVESTMENT GR2 years

Service code 26 · EIN 26-2835793

Advisory (Participants)

$8,771

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