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Retirement plan

DETROIT MEDICAL CENTER CONSOLIDATED PENSION PLAN

VHS OF MICHIGANEIN 27-2396331Plan #002PY 2019
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3663 WOODWARD AVENUE, SUITE 200 - DETROIT, MI 482012403313-578-2063LinkedIn10001+ employeesmedical practice
Prospect flagsHigh retiree %

Filing contacts

From the Form 5500, federal record
Plan sponsor & administrator signer
KELLY POOL
Signed 10/13/2020
(313) 578-2063
How to read this page

Summary metrics

Total assets (EOY)
$810.5M
+2.0% from 2016
Total participants
11,695
+14.4% from 2016
Average account balance
$0
No prior year
Annual return
13.40%
-8.25 pp from 2016

Benchmarks

See 139 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined benefit
Participants1,000-4,999
Cohort139 peers
Snapshot2019
Participant deferral / active EE
$0
median $1
Employer contribution / active EE
$14,949
median $5,563
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $341,093,897
Admin fee / account holder
$0
median $1,551,325
Annual return
13.40%
median 17.07%
Overall peer rank
46th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$572.87M
Average account balance
Total assets / participants with a balance (line 6g)
$66K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
7,262
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
$23.86M
Contributions per participant
Average employer and participant contribution per enrolled participant
$17K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-0.58%
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 3 by compensation
ProviderService typeCompensation
MILLIMAN, INC.5+ years
Service code 11 · EIN 91-0675641
Actuarial
$1,955,266
THE BANK OF NEW YORK MELLON5+ years
Service code 21 · EIN 13-5160382
Bank Trustee
$340,301
PLANTE MORAN5+ years
Service code 10 · EIN 38-1357951
Accounting
$27,000

Enrolled actuary

1 attachment
SB

MICHAEL N. MORIN, A.S.A., E.A.

MILLIMAN, INC.
Enrollment #2004030
10000 N. CENTRAL EXPRESSWAY
SUITE 1500
DALLAS, TX 752314177
(214) 863-5516
Signed 2020-10-13

Reportable transactions (Schedule G)

8 rows

Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.

CategoryCounterpartyRelationship / TermsAddressAmount
Part 3
Non-exempt transaction
DETROIT MEDICAL CENTER
EMPLOYER
INADVERTENT LOAN ON 4/16/2015
—$285
Part 3
Non-exempt transaction
DETROIT MEDICAL CENTER
EMPLOYER
INADVERTENT LOAN ON 10/8/2015
—$2K
Part 3
Non-exempt transaction
DETROIT MEDICAL CENTER
EMPLOYER
INADVERTENT LOAN ON 11/24/2015
—$9K
Part 3
Non-exempt transaction
DETROIT MEDICAL CENTER
EMPLOYER
INADVERTENT LOAN ON 12/22/2015
—$13K
Part 3
Non-exempt transaction
DETROIT MEDICAL CENTER
EMPLOYER
INADVERTENT LOAN ON 1/8/2016
—$49K
Part 3
Non-exempt transaction
DETROIT MEDICAL CENTER
EMPLOYER
INADVERTENT LOAN ON 4/6/2016
—$8K
Part 3
Non-exempt transaction
DETROIT MEDICAL CENTER
EMPLOYER
INADVERTENT LOAN ON 4/25/2016
—$805
Part 3
Non-exempt transaction
DETROIT MEDICAL CENTER
EMPLOYER
INADVERTENT LOAN ON 10/20/2016
—$618

Plan features & details

Pension benefit codes1A3H1I
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
  • 1I
    Frozen plan
    As of the last day of the plan year the plan provides that no participant will get any new benefit accrual whether because of service or compensation.
  • 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

1 tripped
  • InformationalHigh retiree %

    Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II
Admin total
$11.0M
$4145 / participant
  • Investment mgmt$696K6.3%
  • Contract admin$1M11.8%
  • Other / not subdivided$9M81.9%
% of EOY assets
1.359%
all-in expense ratio
Categories reported
2 / 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
PLANTE & MORAN - PLLC
Auditor EIN
381357951
Audit fees
(not subdivided)
Opinion code
Disclaimer