Retirement plan

MCGUIREWOODS LLP RETIREMENT SAVINGS PLAN

Name: MCGUIREWOODS LLP - MCGUIREWOODS LLP RETIREMENT SAVINGS PLAN (2020) 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 2020

GATEWAY PLAZA, 800 EAST CANAL, STREET - RICHMOND, VA 23219804-775-1000

Other plans on this EIN

1 filing

#006Retirement-$44.3M assets

Prospect flagsHigh assets / participant

How to read this page

Total assets (EOY)

$945M

-8.1% from 2016

Total participants

3,011

-3.9% from 2016

Average account balance

$316,065

-4.4% from 2016

Annual return

15.70%

-8.17 pp from 2016

Benchmarks

See 755 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort755 peers

Snapshot2020

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 5 by compensation

Provider	Service type	Compensation
T ROWE PRICE RPS INC6+ years Service code 15 100 EAST PRATT STREET · BALTIMORE, MD 21202	Recordkeeping	$153,034
ELLWOOD ASSOCIATES2 years Filed as: ELLWOOD ASSOC. Service code 16 33 WEST MONROE · CHICAGO, IL 60603	Consulting	$50,000
BKD, LLP3 years Filed as: DIXON HUGHES GOODMAN, LLP Service code 10 PO BOX 602828 · CHARLOTTE, NC 28260	Accounting	$14,500
MORNINGSTAR6+ years Service code 26 22 WEST WASHINGTON STREET · CHICAGO, IL 60602	Advisory (Participants)	$13,091
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB & CO. INC. Service code 33 211 MAIN STREET · SAN FRANCISCO, CA 94105	Float revenue; Securities brokerage c...	$2,529

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

1 tripped

InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$233K

$123 / participant

Investment mgmt$13K5.6%
Other / not subdivided$220K94.4%

% of EOY assets

0.025%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: DIXON HUGHES GOODMAN LLP
Auditor EIN: 560747981
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$316,065

$127,481+147.9%

$149,751+111.1%

$90,274+250.1%

Participation rate

98.9%

78.2%+20.7pp

82.5%+16.4pp

73.4%+25.5pp

Annual return

15.70%

57.78%-42.1pp

276.71%-261.0pp

53.97%-38.3pp

Employer contribution / active EE

$10,722

$3,448+211.0%

$4,646+130.8%

$2,523+324.9%

Participant deferral / active EE

$12,951

$6,975+85.7%

$6,843+89.3%

$4,231+206.1%

Admin fee / account holder

$78

$152-48.6%

$9,312-99.2%

$114-31.6%

Provider

Service type

Compensation

T ROWE PRICE RPS INC6+ years

Service code 15

100 EAST PRATT STREET · BALTIMORE, MD 21202

Recordkeeping

$153,034

ELLWOOD ASSOCIATES2 years

Filed as: ELLWOOD ASSOC.

Service code 16

33 WEST MONROE · CHICAGO, IL 60603

Consulting

$50,000

BKD, LLP3 years

Filed as: DIXON HUGHES GOODMAN, LLP

Service code 10

PO BOX 602828 · CHARLOTTE, NC 28260

Accounting

$14,500

MORNINGSTAR6+ years

Service code 26

22 WEST WASHINGTON STREET · CHICAGO, IL 60602

Advisory (Participants)

$13,091

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB & CO. INC.

Service code 33

211 MAIN STREET · SAN FRANCISCO, CA 94105

Float revenue; Securities brokerage c...

$2,529

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