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Retirement plan

THE CLEVELAND CLINIC FOUNDATION CASH BALANCE PLAN

THE CLEVELAND CLINIC FOUNDATIONEIN 34-0714585Plan #003PY 2017
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9500 EUCLID AVENUE, AC-341 - CLEVELAND, OH 44195216-448-2247LinkedIn1-10 employeesmedical practice
Other plans on this EIN
3 filings
#002Retirement-$4.56B assets#001Retirement-$1.21B assets#011Retirement-$745.8M assets
Prospect flagsNo flags tripped

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(216) 448-2247
Plan administrator signer
STEVEN C. GLASS
Signed 10/11/2018
How to read this page

Summary metrics

Total assets (EOY)
$854M
-8.3% from 2016
Total participants
5,041
-3.0% from 2016
Average account balance
$174,634
-5.5% from 2016
Annual return
17.04%
-6.03 pp from 2016

Benchmarks

See 1,308 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants1,000-4,999
Cohort1,308 peers
Snapshot2017
Participant deferral / active EE
$0
median $1,920
Employer contribution / active EE
$13,748
median $795
Participation rate
96.1%
median 74.1%
Avg account balance
$174,634
median $30,961
Admin fee / account holder
$176
median $51
Annual return
17.04%
median 16.73%
Overall peer rank
65th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$1.62B
Average account balance
Total assets / participants with a balance (line 6g)
$254K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
6,386
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
97.4%
Contributions (total)
Employer and participant dollars contributed each year
$87.94M
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
+14.91%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$262
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 16 by compensation
ProviderService typeCompensation
KEY PRIVATE BANK3+ years
Service code 26 · EIN 34-0797057
Advisory (Participants)
$341,283
FINANCIAL ENGINES2 years
Service code 27 · EIN 77-0473565
Advisory (Plan)
$153,554
BEACON FINANCIAL ADVISORS, LLC2 years
Service code 26 · EIN 47-2589461
Advisory (Participants)
$86,697
CLEVELAND CLINIC3+ years
Service code 14 · EIN 34-0714585
Plan Administrator
$50,758
CLS INVESTMENTS LLC3+ years
Service code 26 · EIN 32-0070947
Advisory (Participants)
$32,582
LARSON FINANCIAL GROUP, LLC2 years
Service code 26 · EIN 20-4773945
Advisory (Participants)
$28,602
SECURITIES AMERICA ADVISORS, I2 years
Service code 26 · EIN 47-0648506
Advisory (Participants)
$27,850
WEALTHTRUST FAIRPORT, LLC2 years
Service code 26 · EIN 34-1840121
Advisory (Participants)
$27,369
REED FINANCIAL SERVICES, INC.2 years
Service code 26 · EIN 35-3740000
Advisory (Participants)
$22,232
SEQUOIA FINANCIAL ADVISORS2 years
Service code 26 · EIN 27-7729029
Advisory (Participants)
$15,456

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 codes2C2F2G2R3H
Plan features
  • 2C
    Money purchase plan
    Money purchase pension plan other than a target benefit 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.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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

0 tripped
No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II
Admin total
$861K
$220 / participant
  • Investment mgmt$154K17.8%
  • Contract admin$708K82.2%
% of EOY assets
0.101%
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
MAYER HOFFMAN MCCANN PC
Auditor EIN
431947695
Audit fees
(not subdivided)
Opinion code
Disclaimer