Retirement plan
CONSOLIDATED 401(A) AND 401(K) PROGRAM OF PARTNERS HEALTHCARE AND MEMBER ORGANIZATIONS
PARTNERS HEALTHCARE SYSTEM, INC.EIN 04-3230035Plan #500PY 2019
399 REVOLUTION DRIVE, SUITE 245 - SOMERVILLE, MA 02145833-275-6947massgeneralbrigham.orgLinkedIn10001+ employeeshospital & health care
Other plans on this EIN
2 filingsProspect flagsLow returnsLow participant contribution
Filing contacts
From the Form 5500, federal recordPlan administrator signer
CHRISTINE ZOTTOLI
Signed 05/05/2020
Summary metrics
Total assets (EOY)
$594.2M
-12.0% from 2017
Total participants
12,284
+5.3% from 2017
Average account balance
$48,913
-5.4% from 2017
Annual return
3.95%
-10.58 pp from 2017
Benchmarks
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants5,000-9,999
Cohort235 peers
Snapshot2019
19
Participant deferral / active EE
$427
median $2,919
32
Employer contribution / active EE
$668
median $1,357
85
Participation rate
98.2%
median 81.5%
56
Avg account balance
$48,913
median $43,077
80
Admin fee / account holder
$17
median $53
0
Annual return
3.95%
median 22.06%
Overall peer rank
46of 100
46th 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 1 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 16 · EIN 04-2647786 | Consulting | $201,691 |
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 codes2E2F2G2J2K2L2R2S2T3H2C
Plan features
- 2CMoney purchase planMoney purchase pension plan other than a target benefit plan.
- 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.
- 2JCode section 401(k) featureCash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
- 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.
- 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
2 tripped
- OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
- OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
Expense breakdown
Schedule H Part II
Admin total
$203K
$28 / participant
- Contract admin$2K0.8%
- Other / not subdivided$202K99.2%
% of EOY assets
0.034%
all-in expense ratio
Categories reported
1 / 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
- WOLF & COMPANY, P.C.
- Auditor EIN
- 042689883
- Audit fees
- (not subdivided)
- Opinion code
- Disclaimer