Retirement plan
CONSOLIDATED 401(A) AND 401(K) PROGRAM OF PARTNERS HEALTHCARE AND MEMBER ORGANIZATIONS
PARTNERS HEALTHCARE SYSTEMS, INC.EIN 04-3230035Plan #500PY 2016
399 REVOLUTION DRIVE, STE 245 - SOMERVILLE, MA 02145617-726-8133massgeneralbrigham.orgLinkedIn10001+ employeeshospital & health care
Other plans on this EIN
2 filingsProspect flagsLow participant contribution
Filing contacts
From the Form 5500, federal recordPlan administrator signer
PAUL CHANEY
Signed 05/01/2017
Summary metrics
Total assets (EOY)
$525.7M
-12.0% from 2017
Total participants
14,870
+5.3% from 2017
Average account balance
$42,747
-5.4% from 2017
Annual return
10.26%
-10.58 pp from 2017
Benchmarks
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort193 peers
Snapshot2016
9
Participant deferral / active EE
$316
median $2,952
55
Employer contribution / active EE
$1,676
median $1,144
51
Participation rate
76.6%
median 73.8%
52
Avg account balance
$42,747
median $42,315
72
Admin fee / account holder
$15
median $30
72
Annual return
10.26%
median 8.69%
Overall peer rank
52of 100
52nd percentileavg across 6 metrics
Analytics
2016 - 2024
Total assets (EOY)
Plan-year ending balance
$628.84M
Average account balance
Total assets / participants with a balance (line 6g)
$63K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
9,963
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
98.7%
Contributions (total)
Employer and participant dollars contributed each year
$5.19M
Contributions per participant
Average employer and participant contribution per enrolled participant
$1K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+22.72%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$21
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 3 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $291,874 |
Service code 60 | Sub-TA Fees | $0 |
JPM DIVRSD RL RT R51+ years Service code 60 | Sub-TA Fees | $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 codes2E2F2G2K2L2T3H
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.
- 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
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
$190K
$17 / participant
- Other / not subdivided$190K100.0%
% of EOY assets
0.036%
all-in expense ratio
Categories reported
0 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Disclaimer opinion
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
- Auditor firm
- BDO USA, LLP
- Auditor EIN
- 135381590
- Audit fees
- (not subdivided)
- Opinion code
- Disclaimer