Retirement plan

MCGUIREWOODS LLP RETIREMENT SAVINGS PLAN

Name: MCGUIREWOODS LLP - MCGUIREWOODS LLP RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: MCGUIREWOODS LLP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MCGUIREWOODS LLP RETIREMENT SAVINGS PLAN, MCGUIREWOODS LLP

MCGUIREWOODS LLPEIN 54-0505857Plan #003PY 2024

GATEWAY PLAZA, 800 EAST CANAL ST. - RICHMOND, VA 232193956804-775-1000

Other plans on this EIN

1 filing

#006Retirement-$86.4M assets

Prospect flagsLow returnsHigh assets / participant

How to read this page

Total assets (EOY)

$1164.1M

+11.4% from 2023

Total participants

3,238

+1.9% from 2023

Average account balance

$366,081

+10.6% from 2023

Annual return

13.65%

-4.47 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

$1.16B

Not enough data

1 years with asset history on file

Average account balance

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

$366K

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.

3,180

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.

96.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$53.18M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$28K

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

+13.65%

Not enough data

1 years with return on file

Admin fee / account holder

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

$127

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 4 by compensation

Provider	Service type	Compensation
FINANCIAL ENGINES1 year Filed as: EDELMAN FINANCIAL ENGINES Service code 26 1050 ENTERPRISE WAY 3RD FLOOR · SUNNYVALE, CA 94089	Advisory (Participants)	$170,546
T ROWE PRICE RPS INC10+ years Service code 15 · EIN 52-1309931 100 EAST PRATT STREET · BALTIMORE, MD 21202	Recordkeeping	$158,294
CAPFINANCIAL PARTNERS LLC3 years Service code 27 PO BOX 60071 · RALEIGH, NC 27675	Advisory (Plan)	$50,000
FORVIS, LLP2 years Filed as: FORVIS MAZARS LLP Service code 10 · EIN 44-0160260 PO BOX 602828 · CHARLOTTE, NC 28260	Accounting	$24,390

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3B3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$405K

$213 / participant

Investment mgmt$247K60.9%
Other / not subdivided$158K39.1%

% of EOY assets

0.035%

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: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$366,081

$122,219+199.5%

$147,096+148.9%

$199,921+83.1%

Participation rate

96.9%

78.3%+18.7pp

82.2%+14.8pp

72.0%+24.9pp

Annual return

13.65%

30.59%-16.9pp

419.75%-406.1pp

34.28%-20.6pp

Employer contribution / active EE

$11,617

$4,096+183.6%

$4,936+135.3%

$3,035+282.7%

Participant deferral / active EE

$16,401

$8,503+92.9%

$8,071+103.2%

$5,089+222.3%

Admin fee / account holder

$127

$179-28.9%

$13,005-99.0%

$269-52.7%

Provider

Service type

Compensation

FINANCIAL ENGINES1 year

Filed as: EDELMAN FINANCIAL ENGINES

Service code 26

1050 ENTERPRISE WAY 3RD FLOOR · SUNNYVALE, CA 94089

Advisory (Participants)

$170,546

T ROWE PRICE RPS INC10+ years

Service code 15 · EIN 52-1309931

100 EAST PRATT STREET · BALTIMORE, MD 21202

Recordkeeping

$158,294

CAPFINANCIAL PARTNERS LLC3 years

Service code 27

PO BOX 60071 · RALEIGH, NC 27675

Advisory (Plan)

$50,000

FORVIS, LLP2 years

Filed as: FORVIS MAZARS LLP

Service code 10 · EIN 44-0160260

PO BOX 602828 · CHARLOTTE, NC 28260

Accounting

$24,390

MCGUIREWOODS LLP RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MCGUIREWOODS LLP RETIREMENT SAVINGS PLAN

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