Drummond Woodsum & Macmahon PA Profit Sharing Plan

Drummond Woodsum & Macmahon PA Profit Sharing Plan

The plan is the tax-qualified retirement vehicle for Drummond Woodsum, a full-service law firm founded in Maine and now operating from four offices including Portland, Manchester, Lebanon, and Flagstaff. The firm's profit-sharing plan exists to provide deferred compensation for its attorneys and consultants, drawing contributions from the firm's operational revenue. Unlike multi-employer or public pension systems, the plan's participant base remains tied exclusively to the firm's own professional staff. The plan's reported assets include Master Trust Investment Accounts and participant loans, suggesting a pooled trustee-directed structure alongside self-directed borrowing provisions common in professional-service profit-sharing plans. While the plan does not disclose specific investment mandates, comparable law-firm retirement vehicles typically allocate across public equities, fixed income, and real estate, with limited direct private-market exposure. No direct co-investments, SPVs, or venture commitments have been publicly identified. The plan is administered from the firm's Portland headquarters, with plan participants drawn from all active firm locations. The law firm itself comprises over 100 attorneys and consultants, with practice areas spanning tribal law, education, real estate, and commercial services. In May 2026, the firm was named to Vault's "Top 150 Under 150" list of leading midsize law firms, providing a marker of the sponsoring entity's market standing. Law-firm profit-sharing plans operate under a distinct governance model compared to corporate 401(k) plans or union pension funds. The plan's trustees are typically the firm's managing directors, aligning investment oversight directly with the partnership's own long-term interests. David Kallin and Benjamin Marcus hold the top management roles as of 2025–2026, suggesting continuity in the plan's stewardship as the firm navigates growth in its tribal lands and conservation practices.