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Retirement plan

DETROIT MEDICAL CENTER CONSOLIDATED PENSION PLAN

VHS OF MICHIGANEIN 27-2396331Plan #002PY 2023
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3663 WOODWARD AVENUE, SUITE 200 - DETROIT, MI 482012403313-578-2063LinkedIn10001+ employeesmedical practice
Prospect flagsHigh retiree %Low returns

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(313) 578-2063
How to read this page

Summary metrics

Total assets (EOY)
$611.2M
+2.0% from 2016
Total participants
8,858
+14.4% from 2016
Average account balance
$0
No prior year
Annual return
6.19%
-8.25 pp from 2016

Benchmarks

See 100 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined benefit
Participants1,000-4,999
Cohort100 peers
Snapshot2023
Participant deferral / active EE
$0
median $214
Employer contribution / active EE
$10,965
median $4,624
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $13,363
Admin fee / account holder
$0
median $125
Annual return
6.19%
median 9.85%
Overall peer rank
35th 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 6 by compensation
ProviderService typeCompensation
MILLIMAN, INC.9+ years
Service code 11 · EIN 91-0675641
Actuarial
$794,568
MORGAN STANLEY SMITH BARNEY3 years
Service code 28 · EIN 26-4310632
Investment Management
$358,679
THE BANK OF NEW YORK MELLON9+ years
Service code 18 · EIN 13-5160382
Custodial (other than securities)
$330,153
SAGE ADVISORY SVCS., LTD CO.3 years
Service code 28 · EIN 74-2798841
Investment Management
$192,091
WESTERN ASSET MANAGEMENT CO2 years
Service code 28 · EIN 20-2721676
Investment Management
$84,894
PLANTE MORAN, PLLC3 years
Service code 65 · EIN 38-1357951
Account Maintenance
$19,500

Enrolled actuary

1 attachment
SB

WILLIAM STRANGE

MILLIMAN, INC.
Enrollment #2307903
12790 MERIT DRIVE
SUITE 800
DALLAS, TX 752511217
(214) 863-5516
Signed 2024-10-11

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

2 tripped
  • OpportunityLow returns

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

  • 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
$11.4M
$7144 / participant
  • Recordkeeping$20K0.2%
  • Trustee / custodial$330K2.9%
  • Investment mgmt$2M17.7%
  • Legal$1K0.0%
  • Actuarial$139K1.2%
  • Other trustee fees$79K0.7%
  • Contract admin$976K8.5%
  • Other / not subdivided$8M68.8%
% of EOY assets
1.869%
all-in expense ratio
Categories reported
7 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
PLANTE & MORAN, PLLC
Auditor EIN
381357951
Audit fees
(not subdivided)
Opinion code
Unqualified