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Retirement plan

CONSOLIDATED 401(A) AND 401(K) PROGRAM OF MASS GENERAL BRIGHAM AND MEMBER ORGANIZATIONS

MASS GENERAL BRIGHAM INCORPORATEDEIN 04-3230035Plan #500PY 2020
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399 REVOLUTION DRIVE, SUITE 245 - SOMERVILLE, MA 02145833-275-6947massgeneralbrigham.orgLinkedIn10001+ employeeshospital & health care
Other plans on this EIN
2 filings
#010Retirement-$10.27B assets#499Retirement-$8.20B assets
Prospect flagsLow returnsLow participation

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(833) 275-6947
Plan administrator signer
CHRISTINE ZOTTOLI
Signed 05/05/2021
How to read this page

Summary metrics

Total assets (EOY)
$596.5M
-12.0% from 2017
Total participants
12,417
+5.3% from 2017
Average account balance
$59,405
-5.4% from 2017
Annual return
9.11%
-10.58 pp from 2017

Benchmarks

See 223 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants5,000-9,999
Cohort223 peers
Snapshot2020
Participant deferral / active EE
$0
median $3,401
Employer contribution / active EE
$459
median $1,441
Participation rate
65.7%
median 85.9%
Avg account balance
$59,405
median $52,876
Admin fee / account holder
$21
median $49
Annual return
9.11%
median 16.21%
Overall peer rank
39th 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
ProviderService typeCompensation
FIDELITY INVESTMENTS INSTITUTIONAL5+ years
Service code 16 · EIN 04-2647786
Consulting
$193,774

Top hat statement on fileNQDC

Filed April 23, 2024 (most recent of 4 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view
399 Revolution Drive
Somerville, MA 02145
Email— Sign in and upgrade to viewPhone— Sign in and upgrade to view

Plans declared (1)

  • 1. Mass General Brigham Incorporated Systemwide Supplemental Executive Retirement Plan14 emp
Open the filing PDF

Plan features & details

Pension benefit codes2E2F2G2J2K2L2R2S2T3H2C
Plan features
  • 2C
    Money purchase plan
    Money purchase pension plan other than a target benefit plan.
  • 2E
    Profit-sharing
    Profit-sharing plan.
  • 2F
    ERISA section 404(c) plan
    This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
  • 2G
    Total participant-directed account plan
    Participants 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.
  • 2J
    Code section 401(k) feature
    Cash 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.
  • 2K
    Code section 401(m) arrangement
    Employee 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.
  • 2L
    Code section 403(b)(1) arrangement
    Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 2S
    Automatic enrollment
    Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped
  • OpportunityLow participation

    Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

  • OpportunityLow returns

    Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II
Admin total
$207K
$30 / participant
  • Contract admin$7K3.3%
  • Other / not subdivided$200K96.7%
% of EOY assets
0.035%
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