Mcdermott Will & Emery LLP 401(k) Review & Grade
Mw&e Savings and Retirement Plan
Chicago, ILProfessional, Scientific & Technical Services2,003 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$15,269Employer $ per active participant
$18,134Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$1.4BNet plan assets, end of year
$443,908Average balance per account
Score breakdown
- Employer generosity49.0 / 5098th percentile for employer $ per participant
- Low cost22.3 / 2589th percentile for low admin cost vs. same-size plans
- Employee saving14.5 / 1597th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score83 / 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 | 98th |
| Lower admin cost | 89th |
| Employee saving | 97th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($2,504 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $27,304 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Mcdermott Will & Emery LLP put in about $15,269 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $30,583,445 |
| Participant (employee) contributions | $36,321,709 |
| Other contributions (incl. rollovers in) | $12,847,442 |
| Administrative expenses paid from the plan | $564,144 |
| Investment advisory & management fees | $325,542 |
| Benefits paid out | $80,785,799 |
| Net assets, start / end of year | $1.2B / $1.4B |
| Active participants, start / end of year | 2,027 / 1,979 |
| Participants with account balances | 3,125 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sikich CPA LLC |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services,inc | $229,526 reported compensation |
| Lmcg Inventment LLC | $111,459 reported compensation |
| Corient Private Wealth LLC | $29,080 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014103423NAL0003646128002, received 2025-10-14, EIN 36-1453176, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.