Retirement plan

UMASS MEMORIAL HEALTH CARE 401(K) PLAN

Name: UMASS MEMORIAL HEALTH CARE, INC. - UMASS MEMORIAL HEALTH CARE 401(K) PLAN (2022) Form 5500
Creator: UMASS MEMORIAL HEALTH CARE, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UMASS MEMORIAL HEALTH CARE 401(K) PLAN, UMASS MEMORIAL HEALTH CARE, INC.

UMASS MEMORIAL HEALTH CARE, INC.EIN 04-3358566Plan #003PY 2022

WBC 67 MILLBROOK STREET, NORTH BUILDING, 1ST FLOOR - WORCESTER, MA 01606508-334-8511ummhealth.orgLinkedIn10001+ employeeshospital & health care

Other plans on this EIN

2 filings

#005Retirement-$930.6M assets #004Retirement-$491.2M assets

Prospect flagsLow returnsCorrective distributions

Top hat statement on fileNQDC

Filed March 5, 2021 (most recent of 5 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

ONE BIOTECH PARK, 365 PLANTATION STREET

WORCESTER, MA 01605

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Plans declared (1)

UMASS MEMORIAL HEALTH CARE 457(f) SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN43 emp

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Total assets (EOY)

$1024.4M

-9.5% from 2016

Total participants

15,534

-3.7% from 2016

Average account balance

$86,294

-3.3% from 2016

Annual return

-17.80%

-5.79 pp from 2016

Benchmarks

See 237 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants>=10,000

Cohort237 peers

Snapshot2022

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$1.43B

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$108K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

13,141

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

70.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$90.19M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+15.64%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$62

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL8+ years Service code 37 · EIN 04-2647786	Loan Processing	$693,562
FIDUCIENT ADVISORS LLC2 years Service code 26 · EIN 36-4001764	Advisory (Participants)	$45,886
COHNREZNICK LLP3 years Service code 10 · EIN 22-1478099	Accounting	$21,893
STRATEGIC ADVISORS, INC.1 year Filed as: STRATEGIC ADVISORS, INC Service code 27 · EIN 04-2654524	Advisory (Plan)	$2,168

Plan features & details

Pension benefit codes2G2J2K2T3H2E2F

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.
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

2 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$764K

$61 / participant

Investment mgmt$48K6.3%
Other / not subdivided$715K93.7%

% of EOY assets

0.075%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: COHNREZNICK LLP
Auditor EIN: 221478099
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$86,294

$83,057+3.9%

$143,801-40.0%

$89,433-3.5%

Participation rate

70.6%

74.0%-3.5pp

80.3%-9.7pp

71.3%-0.7pp

Annual return

-17.80%

-13.97%-3.8pp

-0.04%-17.8pp

-11.88%-5.9pp

Employer contribution / active EE

$2,014

$2,095-3.9%

$4,952-59.3%

$3,021-33.3%

Participant deferral / active EE

$3,808

$4,281-11.0%

$5,639-32.5%

$5,125-25.7%

Admin fee / account holder

$64

$83-22.5%

$14,680-99.6%

$79-19.0%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL8+ years

Service code 37 · EIN 04-2647786

Loan Processing

$693,562

FIDUCIENT ADVISORS LLC2 years

Service code 26 · EIN 36-4001764

Advisory (Participants)

$45,886

COHNREZNICK LLP3 years

Service code 10 · EIN 22-1478099

Accounting

$21,893

STRATEGIC ADVISORS, INC.1 year

Filed as: STRATEGIC ADVISORS, INC

Service code 27 · EIN 04-2654524

Advisory (Plan)

$2,168

UMASS MEMORIAL HEALTH CARE 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UMASS MEMORIAL HEALTH CARE 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion