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FORM 5500 DATA

Kirkland & Ellis LLP Defined Contribution 401K Savings Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan11/01/1984
  • Net Assets as of 12/31/2017 $1,291,938,932
  • Plan Number3
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants3,342
  • Retired or separated participants receiving benefits30
  • Other retired or separated participants entitled to future benefits1,880
  • Subtotal5,252
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits8
  • Total5,260
  • Total number of participants as of 01/01/20174,805
  • Number of participants with account balances5,183
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address300 North Lasalle Street
  • CityChicago
  • StateIL
  • Zip60654-3406
  • Telephone(312) 862-2000
  • EIN36-1326630
  • Industry Code541110
  • Named AdministratorTodd Maynes

Plan Administrator Information

  • Administrator NameKirkland & Ellis LLP Benefits Committee
  • Address300 North Lasalle Street
  • CityChicago
  • StateIL
  • Zip60654-3406
  • Telephone(312) 862-2000
  • Administrator EIN36-2874412

Audit Information

  • Audit StatusAudited
  • AuditorPricewaterhousecoopers
  • Auditor EIN13-4008324
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
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.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all 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 A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees 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 if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3B Self-Employed Plan Plan covering Self-Employed individuals.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $10,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $278,254,848
Contributions $90,908,272
Cash Contributions $90,908,272
Cash from Employers $35,617,190
Cash from Participants $38,284,117
Others (including rollovers) $17,006,965
Noncash Contributions $0
Total Earnings on Investments $187,346,576
Total Interest $453,756
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $453,756
Interest from Other Investments $0
Total Dividends $23,975,862
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $79,860
Aggregate Proceeds $0
Aggregate Carrying Amount $-79,860
Total Unrealized Appreciation (depreciation) of assets $3,744,715
Real Estate $0
Other $3,744,715
Net investment gain (loss) from common/collective trusts $64,473,030
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $94,619,353
Other Income $0
Expenses $43,472,548
Total Benefit Payments $43,086,847
Directly to participants or beneficiaries, including direct rollovers $43,086,847
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $46,606
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $339,095
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $339,095
Net Income $234,782,300
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $1,291,938,932 $1,057,156,632 22.21%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $35,617,190 $31,590,081 12.75%
Employer Contributions $35,617,190 $31,590,081 12.75%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $15,538,326 $10,640,288 46.03%
Preferred $0 $0 0.0%
Common $15,538,326 $10,640,288 46.03%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $10,006,833 $9,711,552 3.04%
Value of interest in common/collective trusts $454,233,967 $346,414,801 31.12%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $776,542,616 $658,799,910 17.87%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $1,291,938,932 $1,057,156,632 22.21%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • The Vanguard Group, Inc.

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
The Vanguard Group, Inc. Recordkeeping and information management (computing, tabulating, data processing, etc.), Trustee (directed), Investment advisory (participants), Participant loan processing, Investment management fees paid indirectly by plan NONE $358,935 $0 $358,935
Total $358,935 $0 $358,935

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
The Vanguard Group, Inc. Franklin Templton Distributors, Inc Other fees 15 Bps $0
The Vanguard Group, Inc. Dodge & Cox Other fees 10 Bps $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Vanguard Target Ret. 2035 Trust II Vangaurd Fiduciary Trust Company DFE: Common/Collective Trust $89,444,685
Vanguard Target Ret. 2040 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $71,224,191
Vanguard Target Ret. 2045 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $68,001,686
Vanguard Target Ret. 2025 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $47,457,288
Vanguard Target Ret 2030 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $44,480,878
Vanguard Target Ret. 2020 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $33,110,383
Vanguard Target Ret. 2050 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $32,987,966
Vanguard Ret Savings Trust III Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $29,537,719
Vanguard Target Ret. 2015 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $13,789,070
Vanguard Target Ret. 2055 Trust II Vangaurd Fiduciary Trust Company DFE: Common/Collective Trust $12,948,504
Vanguard Target Ret. Income Trust L Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $7,270,437
Vanguard Target Ret. 2060 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $3,311,986
Vanguard Target Ret. 2065 Trust Ll Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $20,938
Vanguard Target Ret. 2010 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $0
Total $453,585,731

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.