Retirement plan
THE CLEVELAND CLINIC FOUNDATION CASH BALANCE PLAN
THE CLEVELAND CLINIC FOUNDATIONEIN 34-0714585Plan #003PY 2024
Other plans on this EIN
4 filingsProspect flagsHigh assets / participant
Filing contacts
From the Form 5500, federal recordSummary metrics
Total assets (EOY)
$1624.1M
-8.3% from 2016
Total participants
6,518
-3.0% from 2016
Average account balance
$254,314
-5.5% from 2016
Annual return
14.91%
-6.03 pp from 2016
Benchmarks
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants5,000-9,999
Cohort237 peers
Snapshot2024
0
Participant deferral / active EE
$0
median $3,813
91
Employer contribution / active EE
$17,139
median $1,589
89
Participation rate
97.4%
median 78.3%
98
Avg account balance
$254,314
median $56,899
1
Admin fee / account holder
$262
median $64
56
Annual return
14.91%
median 14.46%
Overall peer rank
67of 100
67th 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
Providers data not reported
Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.
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.
Plan features & details
Pension benefit codes2C2F2G2R3H
Plan features
- 2CMoney purchase planMoney purchase pension plan other than a target benefit plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants 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.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
1 tripped
- InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.
Expense breakdown
Schedule H Part II
Admin total
$1.7M
$326 / participant
- Recordkeeping$140K8.4%
- Investment mgmt$1M89.1%
- Actuarial$25K1.5%
- Other / not subdivided$17K1.0%
% of EOY assets
0.103%
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
- $16,904
- Opinion code
- Unqualified