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Retirement plan

TENET HEALTHCARE CORPORATION 401(K) RETIREMENT SAVINGS PLAN

TENET HEALTHCARE CORPORATIONEIN 95-2557091Plan #335PY 2020
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14201 DALLAS PARKWAY - DALLAS, TX 75254469-893-6538tenethealth.comLinkedIn10001+ employeeshospital & health care
Prospect flagsLow participationFailed to provide benefitCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(469) 893-6538
Plan administrator signer
KELLY POOL
Signed 10/15/2021
How to read this page

Summary metrics

Total assets (EOY)
$8002.2M
-7.7% from 2016
Total participants
158,851
+0.4% from 2016
Average account balance
$64,610
-4.7% from 2016
Annual return
20.85%
-6.94 pp from 2016

Benchmarks

See 228 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort228 peers
Snapshot2020
Participant deferral / active EE
$3,775
median $3,786
Employer contribution / active EE
$1,141
median $1,365
Participation rate
68.2%
median 83.8%
Avg account balance
$64,610
median $58,490
Admin fee / account holder
$91
median $46
Annual return
20.85%
median 16.84%
Overall peer rank
44th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$8.69B
Average account balance
Total assets / participants with a balance (line 6g)
$80K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
108,703
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
63.8%
Contributions (total)
Employer and participant dollars contributed each year
$546.46M
Contributions per participant
Average employer and participant contribution per enrolled participant
$5K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+18.13%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$83
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 9 by compensation
ProviderService typeCompensation
FIDELITY INVESTMENTS INSTITUTIONAL6+ years
Service code 37 · EIN 04-2647786
Loan Processing
$3,807,842
STRATEGIC ADVISORS, INC.4 years
Service code 27 · EIN 04-2654524
Advisory (Plan)
$1,144,380
BAIRD EQUITY ASSET MANAGEMENT1 year
Service code 28 · EIN 39-6037917
Investment Management
$233,918
CONESTOGA CAPITAL ADVISORS1 year
Service code 27 · EIN 31-1001020
Advisory (Plan)
$218,015
MORGAN STANLEY2 years
Service code 27 · EIN 20-8764829
Advisory (Plan)
$178,019
CAPTRUST FINANCIAL ADVISORS1 year
Service code 27 · EIN 26-0058143
Advisory (Plan)
$120,603
CEREDEX VALUE ADVISORS1 year
Service code 27 · EIN 61-0001040
Advisory (Plan)
$109,967
BNY MELLON INVESTMENT MANAGEMENT1 year
Service code 28 · EIN 01-1001234
Investment Management
$96,359
WILKINS FINSTON FRIEDMAN LAW GROUP5 years
Service code 29 · EIN 27-5546855
Legal
$9,227

Top hat statement on fileNQDC

Filed March 23, 2009 (most recent of 5 filings on file)

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 codes2E2F2G2J2K2R2T3H
Plan features
  • 2E
    Profit-sharing
    Profit-sharing 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.
  • 2J
    Code section 401(k) feature
    Cash 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.
  • 2K
    Code section 401(m) arrangement
    Employee 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.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
  • 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

3 tripped
  • OpportunityLow participation

    Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

  • ComplianceFailed to provide benefit

    Form 5500 reported that benefits due were not provided when due.

  • ComplianceCorrective distributions

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

Expense breakdown

Schedule H Part II
Admin total
$11.3M
$102 / participant
  • Investment mgmt$7M58.1%
  • Other / not subdivided$5M41.9%
% of EOY assets
0.141%
all-in expense ratio
Categories reported
1 / 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
DELOITTE & TOUCHE
Auditor EIN
133891517
Audit fees
(not subdivided)
Opinion code
Disclaimer