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Retirement plan

CLEVELAND CLINIC SAVINGS AND INVESTMENT PLAN

THE CLEVELAND CLINIC FOUNDATIONEIN 34-0714585Plan #002PY 2024
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9500 EUCLID AVENUE AC-244 - CLEVELAND, OH 441950001216-448-0801LinkedIn1-10 employeesmedical practice
Other plans on this EIN
4 filings
#011Retirement-$1.77B assets#003Retirement-$1.62B assets#001Retirement-$1.04B assets#004Retirement-$969.1M assets
Prospect flagsCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(216) 448-0801
How to read this page

Summary metrics

Total assets (EOY)
$9206.9M
-10.1% from 2016
Total participants
86,817
-3.8% from 2016
Average account balance
$111,466
-4.3% from 2016
Annual return
23.22%
-6.36 pp from 2016

Benchmarks

See 275 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort275 peers
Snapshot2024
Participant deferral / active EE
$7,277
median $4,708
Employer contribution / active EE
$2,072
median $2,014
Participation rate
93.8%
median 86.4%
Avg account balance
$111,466
median $64,875
Admin fee / account holder
$84
median $50
Annual return
23.22%
median 14.66%
Overall peer rank
66th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$9.21B
Average account balance
Total assets / participants with a balance (line 6g)
$111K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
82,598
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
93.8%
Contributions (total)
Employer and participant dollars contributed each year
$637.64M
Contributions per participant
Average employer and participant contribution per enrolled participant
$9K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+23.22%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$84
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 10 of 41 by compensation
ProviderService typeCompensation
KEY PRIVATE BANK10+ years
Service code 26 · EIN 34-0797057
Advisory (Participants)
$1,553,126
STRATEGIC ADVISORS, INC.3 years
Service code 27 · EIN 04-2654524
Advisory (Plan)
$1,059,360
CLS INVESTMENTS LLC10+ years
Service code 26 · EIN 32-0070947
Advisory (Participants)
$504,970
SEQUOIA FINANCIAL ADVISORS9 years
Service code 26 · EIN 27-7729029
Advisory (Participants)
$207,038
STRATOS WEALTH ADVISORS LLC1 year
Service code 26 · EIN 30-2781674
Advisory (Participants)
$156,207
WILLIS TOWERS WATSON6 years
Service code 11
1001 LAKESIDE AVENUE · CLEVELAND, OH 441141172
Actuarial
$138,898
LARSON FINANCIAL GROUP, LLC9 years
Service code 26 · EIN 20-4773945
Advisory (Participants)
$128,703
CARNEGIE INVESTMENT COUNSEL10+ years
Service code 26 · EIN 26-4766975
Advisory (Participants)
$103,232
STRATEGIC WEALTH PARTNERS10+ years
Service code 26 · EIN 26-2328809
Advisory (Participants)
$89,171
PRASAD WEALTH PARTNERS1 year
Service code 26
6050 OAK TREE BLVD · INDEPENDENCE, OH 44131
Advisory (Participants)
$86,084

Top hat statement on fileNQDC

Filed December 23, 1992

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

Open the filing PDF

Plan features & details

Pension benefit codes2F2G2L2M2R3H3D
Plan features
  • 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.
  • 2L
    Code section 403(b)(1) arrangement
    Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
  • 2M
    Code section 403(b)(7) accounts
    Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 3D
    Pre-approved pension plan
    A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
  • 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
  • ComplianceCorrective distributions

    Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II
Admin total
$7.0M
$102 / participant
  • Recordkeeping$2M27.8%
  • Investment mgmt$5M69.8%
  • Actuarial$139K2.0%
  • Other / not subdivided$31K0.4%
% of EOY assets
0.076%
all-in expense ratio
Categories reported
3 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
CBIZ CPAS P.C.
Auditor EIN
431947695
Audit fees
$31,212
Opinion code
Unqualified