Mcguirewoods LLP 401(k) Review & Grade
Mcguirewoods LLP Retirement Savings Plan
Richmond, VAProfessional, Scientific & Technical Services1,901 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$11,598Employer $ per active participant
$16,375Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.2BNet plan assets, end of year
$366,081Average balance per account
Score breakdown
- Employer generosity46.8 / 5094th percentile for employer $ per participant
- Low cost22.8 / 2591th percentile for low admin cost vs. same-size plans
- Employee saving14.0 / 1593th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score94 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 91th |
| Employee saving | 93th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Mcguirewoods LLP put in about $11,598 per active participant, more than the typical peer ($3,082). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $22,048,192 |
| Participant (employee) contributions | $31,129,319 |
| Other contributions (incl. rollovers in) | $9,352,089 |
| Administrative expenses paid from the plan | $405,199 |
| Investment advisory & management fees | $246,905 |
| Other admin expenses | $158,294 |
| Benefits paid out | $77,057,743 |
| Net assets, start / end of year | $1.0B / $1.2B |
| Active participants, start / end of year | 1,904 / 1,898 |
| Participants with account balances | 3,180 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Edelman Financial Engines | $170,546 reported compensation |
| T Rowe Price RPS Inc | $158,294 reported compensation |
| Capfinancial Partners LLC | $50,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014165432NAL0006873666002, received 2025-10-14, EIN 54-0505857, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.