Retirement plan
THE 401(K) PLAN FOR PERMANENTE MEDICAL GROUPS
SOUTHERN CALIFORNIA PERMANENTE MEDICAL GROUPEIN 95-1750445Plan #009PY 2023
393 E. WALNUT STREET 3RD FLOOR - PASADENA, CA 91188626-405-2654LinkedIn1-10 employeeshospital & health care
Other plans on this EIN
4 filingsProspect flagsHigh assets / participantCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
JACKIE COOPERSTEIN
Signed 10/15/2024
Summary metrics
Total assets (EOY)
$5627.8M
-11.8% from 2016
Total participants
22,676
-5.1% from 2016
Average account balance
$260,945
-7.0% from 2016
Annual return
18.13%
-9.32 pp from 2016
Benchmarks
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort255 peers
Snapshot2023
91
Participant deferral / active EE
$17,203
median $4,532
29
Employer contribution / active EE
$1,070
median $1,894
67
Participation rate
93.8%
median 86.5%
98
Avg account balance
$260,945
median $57,968
9
Admin fee / account holder
$87
median $47
41
Annual return
18.13%
median 18.72%
Overall peer rank
56of 100
56th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$6.54B
Average account balance
Total assets / participants with a balance (line 6g)
$295K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
22,192
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
94.1%
Contributions (total)
Employer and participant dollars contributed each year
$357.72M
Contributions per participant
Average employer and participant contribution per enrolled participant
$19K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+14.83%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$106
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 17 by compensation
| Provider | Service type | Compensation |
|---|---|---|
FINANCIAL ENGINES INC.4 years Service code 28 · EIN 94-3250323 | Investment Management | $1,609,618 |
Service code 15 · EIN 34-1479833 | Recordkeeping | $63,788 |
Service code 26 · EIN 22-3623353 | Advisory (Participants) | $28,230 |
AT INVESTMENT ADVISERS INC2 years Service code 26 · EIN 20-0822261 | Advisory (Participants) | $22,510 |
Service code 26 · EIN 56-2326959 | Advisory (Participants) | $22,159 |
PARTNERCOMM, INC.1 year Service code 28 · EIN 75-2541310 | Investment Management | $15,800 |
CAPITAL INSIGHT PARTNERS LLC2 years Service code 26 · EIN 90-0493567 | Advisory (Participants) | $11,223 |
CAPITAL ADVANTAGE INC2 years Service code 26 · EIN 94-3307876 | Advisory (Participants) | $9,664 |
Service code 26 · EIN 99-0263125 | Advisory (Participants) | $9,498 |
THE RICE PARTNERSHIP LLC2 years Service code 26 · EIN 81-0671115 | Advisory (Participants) | $8,493 |
Plan features & details
Pension benefit codes2E2F2G2J2K2R2S2T3B3F2U
Plan features
- 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.
- 2JCode section 401(k) featureCash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
- 2KCode section 401(m) arrangementEmployee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3BPlan covering self-employed individualsPlan covering self-employed individuals.
- 3FLeased employeesPlan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
Opportunity flags
2 tripped
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
- InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.
Expense breakdown
Schedule H Part II
Admin total
$1.9M
$104 / participant
- Recordkeeping$35K1.9%
- Investment mgmt$2M97.3%
- Contract admin$16K0.8%
% of EOY assets
0.033%
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
- MOSS ADAMS LLP
- Auditor EIN
- 910189318
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified