Retirement plan
CONSOLIDATED 403(B) PROGRAM OF MASS GENERAL BRIGHAM AND MEMBER ORGANIZATIONS
MASS GENERAL BRIGHAM INCORPORATEDEIN 04-3230035Plan #010PY 2024
399 REVOLUTION DRIVE, SUITE 245 - SOMERVILLE, MA 02145833-275-6947massgeneralbrigham.orgLinkedIn10001+ employeeshospital & health care
Other plans on this EIN
2 filingsProspect flagsNo flags tripped
Filing contacts
From the Form 5500, federal recordPlan administrator signer
BRIAN MARTIN
Signed 05/02/2025
Summary metrics
Total assets (EOY)
$14924.8M
-13.2% from 2017
Total participants
131,090
+17.4% from 2017
Average account balance
$114,590
+7.4% from 2017
Annual return
24.32%
-3.10 pp from 2017
Benchmarks
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort275 peers
Snapshot2024
83
Participant deferral / active EE
$7,867
median $4,708
43
Employer contribution / active EE
$1,952
median $2,014
96
Participation rate
98.9%
median 86.4%
91
Avg account balance
$114,590
median $64,875
72
Admin fee / account holder
$35
median $50
96
Annual return
24.32%
median 14.66%
Overall peer rank
80of 100
80th percentileavg across 6 metrics
Analytics
2016 - 2024
Total assets (EOY)
Plan-year ending balance
$14.92B
Average account balance
Total assets / participants with a balance (line 6g)
$115K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
130,246
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
98.9%
Contributions (total)
Employer and participant dollars contributed each year
$751.75M
Contributions per participant
Average employer and participant contribution per enrolled participant
$10K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+24.32%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$35
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 5 by compensation
| Provider | Service type | Compensation |
|---|---|---|
FIDELITY INVESTMENTS6 years Service code 37 · EIN 04-2647786 | Loan Processing | $4,050,021 |
Service code 37 · EIN 04-3532603 | Loan Processing | $723,108 |
TIAA-CREF1 year Service code 37 · EIN 13-1624203 | Loan Processing | $6,474 |
Service code 60 | Sub-TA Fees | $0 |
Service code 37 · EIN 31-4156860 | Loan Processing | $0 |
Top hat statement on fileNQDC
Filed April 23, 2024 (most recent of 4 filings on file)
Plan administrator
Plans declared (1)
- 1. Mass General Brigham Incorporated Systemwide Supplemental Executive Retirement Plan14 emp
Plan features & details
Pension benefit codes2F2G2L2T3H2N2E2R2S2K2M
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
- 2KCode section 401(m) arrangementEmployee 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 to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
- 2LCode section 403(b)(1) arrangementPlan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
- 2MCode section 403(b)(7) accountsPlan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
- 2NCode section 408 accounts and annuitiesPension plan utilizing Code section 408 individual retirement accounts or annuities as the funding vehicle for providing benefits.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
0 tripped
No flags tripped for this filing year. This plan looks clean.
Expense breakdown
Schedule H Part II
Admin total
$4.5M
$59 / participant
- Recordkeeping$3M59.7%
- Investment mgmt$1M24.2%
- Contract admin$727K16.1%
% of EOY assets
0.030%
all-in expense ratio
Categories reported
3 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- WOLF & COMPANY, P.C.
- Auditor EIN
- 042689883
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified