401(k) · DOL Form 5500 · 2023

Drake Software 401(k) Plan

Data updated 2026-08-25

$61M
Total assets Below avg plan size
1,105
Participants Near avg headcount
87th
Percentile by assets National rank
$55,131
Avg per participant Low balance/head
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Official DOL plan name: Drake Software LLC 401(k) Plan · Sponsored by Drake Software · North Carolina · Professional & Technical Services

$61M in assets, 1,105 participants

Drake Software's Drake Software LLC 401(k) Plan reported $61M in total assets and 1,105 participants in its 2023 DOL Form 5500 filing, ranking in the 87th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #18,008 in Professional & Technical Services (20,321 peers)

Where Drake Software LLC 401(k) Plan sits by assets

Drake Software LLC 401(k) Plan sits in the top quartile of all filed plans by assets, $61M for 1,105 participants (~$55,131/participant), up 104.9% in 2023.

#18,008
in Professional & Technical Services (20,321 peers)
+104.9%
assets growth YoY
0.6×
vs typical plan assets (national mean)

Drake Software LLC 401(k) Plan's outsized position by total assets

Drake Software LLC 401(k) Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$60,919,330 Top 13% higher than 87% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Drake Software LLC 401(k) Plan's large-plan peer group by participant headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Drake Software LLC 401(k) Plan lands in the large band (1,105 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Drake Software LLC 401(k) Plan reported net income rose from -$2M in the plan year 2022 filing to $12M in the plan year 2023 filing.
  • Drake Software LLC 401(k) Plan end-of-year assets rose from $30M in the plan year 2022 filing to $61M in the plan year 2023 filing.
  • Drake Software LLC 401(k) Plan reported participants rose from 882 in the plan year 2022 filing to 1,105 in the plan year 2023 filing.

See the national 2022→2023 release diff →

DOL schedule card

Filing strip 261539542 · Drake Software PY 2023 · 401(k)

Drake Software LLC 401(k) Plan · $61M · 1,105 · 87th

  • ASSETS $61M
  • PCT 1,105
  • EIN 87th
  • RANK 401(k)
  • PHOTO near Mathiowetz Construction Company Retirement Plan
  • IND ind #18008

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Professional & Technical Services retirement plans → · Plans in North Carolina →

Drake Software LLC 401(k) Plan in the asset neighbourhood

Altamira Technologies Corporation 401(k) PlanAltamira Technologies Corpor…$61MMag Savings Plan$61MDrake Software LLC 401(k) PlanDrake Software LLC 401(k) Pl…$61MMathiowetz Construction Company Retirement PlanMathiowetz Construction Comp…$61MSpellman 401(k) Savings Plan$61M
End-of-year total assets ($M) among Drake Software LLC 401(k) Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$30M
Net Assets (End of Year)$61M
Net Income$12M
Employer EIN261539542
Plan Effective Date1994-11-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Drake Software)

Sponsor-wide plan assets over time

All Drake Software plans reported in each filing year

Latest sponsor-wide plan assets
$61M 104.86860873616838% vs 2022
2023 filing year
$20M$30M$40M$50M$60M$70M 20222023 $29.7M $60.9M ▲ +104.8%
Year Plans Participants Total Assets
2022 1 882 $30M
2023 1 1,105 $61M

Nearby 401(k) Plans in North Carolina

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Drake Software LLC 401(k) Plan vs. nearby 401(k) plans in North Carolina, assets vs. participants Scatter plot of 6 data points. -50000050000100000150000200000 -200204060 Total assets ($B) Participants Drake Software LLC 401(k) Plan, Total assets ($B): 0.06091933 · Participants: 1105Drake Software LLC 401(k) PlanThe Bank of America 401(k) Plan, Total assets ($B): 54.848846192 · Participants: 173899The Bank of America 401(k) PlanHoneywell 401(k) Plan, Total assets ($B): 15.388124058 · Participants: 40004Honeywell 401(k) PlanDuke Energy Retirement Savings Plan, Total assets ($B): 10.354065 · Participants: 28121Duke Energy Retirement Savings PlanTruist Financial Corporation 401(k) Savings Plan, Total assets ($B): 10.120701726 · Participants: 55480Truist Financial Corporation 401(k) Savings PlanNucor Corporation Profit Sharing and Retirement Savings Plan, Total assets ($B): 8.510660989 · Participants: 24174Nucor Corporation Profit Sharing and Retirement Savings Plan
Drake Software LLC 401(k) Plan vs. nearby 401(k) plans in North Carolina, assets vs. participants
Compare Drake Software LLC 401(k) Plan side-by-side with 3 peers →

Drake Software LLC 401(k) Plan's out-of-state 401(k) peers by assets and headcount

Outside North Carolina, the nearest 401(k) by assets is Mathiowetz Construction Company Retirement Plan in MN ($61M); by covered participants it is Affinity Gaming Retirement Savings Plan in NV (1,105 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($61M here).

Similar participant headcount

Nearest other-state filings by covered participants (1,105 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Drake Software LLC 401(k) Plan assets move in 2023? ▼
Drake Software LLC 401(k) Plan surged - up 104.9% during 2023, from $30M to $61M. Reported net income was $12M.
How have Drake Software plan assets changed over time? ▼
Across 2 plan years on file (2022-2023), Drake Software's sponsor-wide assets grew 104.9%, from $30M to $61M.
Where does Drake Software LLC 401(k) Plan rank by assets among Form 5500 filers? ▼
Drake Software LLC 401(k) Plan ranks in the 87th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top quartile of all filed plans by assets).
Which 401(k) plans are similar in size to Drake Software LLC 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by assets is Mathiowetz Construction Company Retirement Plan in MN ($61M, 168 participants).
Which 401(k) plans cover a similar participant headcount to Drake Software LLC 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Affinity Gaming Retirement Savings Plan in NV (1,105 participants, $35M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 261539542.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.