Retirement plan
CLEVELAND CLINIC INVESTMENT PENSION PLAN
THE CLEVELAND CLINIC FOUNDATIONEIN 34-0714585Plan #011PY 2018
9500 EUCLID AVENUE AC-341 - CLEVELAND, OH 441950001216-448-0801LinkedIn1-10 employeesmedical practice
Other plans on this EIN
3 filingsProspect flagsLow returnsLow assets / participant
Filing contacts
From the Form 5500, federal recordPlan administrator signer
TIMOTHY LONGVILLE
Signed 10/10/2019
Summary metrics
Total assets (EOY)
$758.3M
-17.2% from 2016
Total participants
48,850
-3.4% from 2016
Average account balance
$15,745
-13.5% from 2016
Annual return
-5.55%
-7.32 pp from 2016
Benchmarks
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort224 peers
Snapshot2018
0
Participant deferral / active EE
$0
median $3,263
58
Employer contribution / active EE
$2,129
median $1,456
89
Participation rate
98.4%
median 81.9%
9
Avg account balance
$15,745
median $42,754
83
Admin fee / account holder
$12
median $39
14
Annual return
-5.55%
median -4.42%
Overall peer rank
51of 100
51st percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$1.77B
Average account balance
Total assets / participants with a balance (line 6g)
$24K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
72,743
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
99.1%
Contributions (total)
Employer and participant dollars contributed each year
$170.17M
Contributions per participant
Average employer and participant contribution per enrolled participant
$3K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+16.27%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$29
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 11 by compensation
| Provider | Service type | Compensation |
|---|---|---|
FINANCIAL ENGINES3 years Service code 27 · EIN 77-0473565 | Advisory (Plan) | $322,132 |
THE CLEVELAND CLINIC FOUNDATION4+ years Service code 16 · EIN 34-0714585 | Consulting | $75,368 |
CLS INVESTMENTS LLC4+ years Service code 26 · EIN 32-0070947 | Advisory (Participants) | $44,828 |
STRATEGIC WEALTH PARTNERS4+ years Service code 26 · EIN 26-2328809 | Advisory (Participants) | $31,274 |
POTOMAC FUND MANAGEMENT, INC.4+ years Service code 26 · EIN 52-1542454 | Advisory (Participants) | $11,695 |
FLEXIBLE PLAN INVESTMENTS4+ years Service code 26 · EIN 38-2340348 | Advisory (Participants) | $9,729 |
STRATOS WEALTH PARTNERS2 years Service code 26 · EIN 27-5273468 | Advisory (Participants) | $9,609 |
Service code 26 · EIN 47-1966492 | Advisory (Participants) | $7,565 |
SEQUOIA FINANCIAL ADVISORS3 years Service code 26 · EIN 27-7729029 | Advisory (Participants) | $6,817 |
Service code 26 · EIN 47-2589461 | Advisory (Participants) | $6,649 |
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 codes2A2E2F2G2R3H
Plan features
- 2AAge/service weighted or new comparability planAge/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
- 2EProfit-sharingProfit-sharing 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
2 tripped
- OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
- OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Expense breakdown
Schedule H Part II
Admin total
$572K
$13 / participant
- Investment mgmt$322K56.3%
- Contract admin$75K13.2%
- Other / not subdivided$175K30.5%
% of EOY assets
0.075%
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