Retirement plan
CONSOLIDATED CASH BALANCE PROGRAM OF MASS GENERAL BRIGHAM AND MEMBER ORGANIZATIONS
MASS GENERAL BRIGHAM INCORPORATEDEIN 04-3230035Plan #499PY 2022
399 REVOLUTION DRIVE, SUITE 245 - SOMERVILLE, MA 02145833-275-6947massgeneralbrigham.orgLinkedIn10001+ employeeshospital & health care
Other plans on this EIN
2 filingsProspect flagsLow participant contribution
Filing contacts
From the Form 5500, federal recordPlan administrator signer
BETH ROHLFING
Signed 07/13/2023
Summary metrics
Total assets (EOY)
$8570.6M
-14.0% from 2017
Total participants
88,299
-19.6% from 2017
Average account balance
$0
No prior year
Annual return
-14.79%
-6.06 pp from 2017
Benchmarks
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort204 peers
Snapshot2022
4
Participant deferral / active EE
$2
median $38
29
Employer contribution / active EE
$5,440
median $6,003
0
Participation rate
0.0%
median 0.0%
0
Avg account balance
$0
median $1,469,698
0
Admin fee / account holder
$0
median $19,323
43
Annual return
-14.79%
median -13.75%
Overall peer rank
25of 100
25th percentileavg across 6 metrics
Analytics
2016 - 2024
Total assets (EOY)
Plan-year ending balance
$10.33B
Average account balance
Total assets / participants with a balance (line 6g)
$112K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
31,785
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
$104.96M
Contributions per participant
Average employer and participant contribution per enrolled participant
$2K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+16.94%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 6 by compensation
| Provider | Service type | Compensation |
|---|---|---|
ALIGHT SOLUTIONS LLC4 years Service code 15 200 WEST STREET · WALTHAM, MA 02451 | Recordkeeping | $2,499,006 |
WILLIS TOWERS WATSON LLC3 years Service code 11 · EIN 53-0181291 | Actuarial | $655,740 |
MASS GENERAL BRIGHAM3 years Service code 13 · EIN 04-3294527 | Contract Administrator | $475,927 |
STATE STREET CORPORATION7+ years Service code 21 · EIN 04-1867445 | Bank Trustee | $214,497 |
CONDUENT4 years Service code 15 · EIN 16-0468020 | Recordkeeping | $51,113 |
BTHR4 years Service code 17 200 HIGHLAND AVE · NEEDHAM, MA 02494 | Pension Consulting | $23,580 |
Enrolled actuary
1 attachment
SB
JENNIFER S COLLIER, A.S.A.,E.A.
WILLIS TOWERS WATSON US LLC
Enrollment #2305680
75 ARLINGTON STREET
FLOOR 10
BOSTON, MA 02116
(617) 638-3700
Signed 2023-06-28
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 codes1C1A3H
Plan features
- 1ABenefits are primarily pay relatedBenefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
- 1CCash balance or similar planA cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
1 tripped
- OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
Expense breakdown
Schedule H Part II
Admin total
$11.1M
$200 / participant
- Other / not subdivided$11M100.0%
% of EOY assets
0.130%
all-in expense ratio
Categories reported
0 / 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