Retirement plan

CLEVELAND CLINIC SAVINGS AND INVESTMENT PLAN

Name: THE CLEVELAND CLINIC FOUNDATION - CLEVELAND CLINIC SAVINGS AND INVESTMENT PLAN (2020) Form 5500
Creator: THE CLEVELAND CLINIC FOUNDATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CLEVELAND CLINIC SAVINGS AND INVESTMENT PLAN, THE CLEVELAND CLINIC FOUNDATION

THE CLEVELAND CLINIC FOUNDATIONEIN 34-0714585Plan #002PY 2020

9500 EUCLID AVENUE AC-244 - CLEVELAND, OH 441950001216-448-0801LinkedIn1-10 employeesmedical practice

Other plans on this EIN

3 filings

#001Retirement-$1.53B assets #003Retirement-$1.22B assets #011Retirement-$1.19B assets

Prospect flagsCorrective distributions

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.

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Total assets (EOY)

$6467.7M

+18.3% from 2019

Total participants

64,030

+3.6% from 2019

Average account balance

$106,695

+14.0% from 2019

Annual return

17.48%

-4.73 pp from 2019

Benchmarks

See 228 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants>=10,000

Cohort228 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$9.21B

Not enough data

1 years with asset history on file

Average account balance

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

$111K

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.

82,598

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.

93.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$637.64M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+23.22%

Not enough data

1 years with return on file

Admin fee / account holder

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

$84

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 10 of 34 by compensation

Provider	Service type	Compensation
FINANCIAL ENGINES5 years Service code 27 · EIN 77-0473565	Advisory (Plan)	$1,906,142
KEY BANK NATIONAL ASSOCIATION6+ years Filed as: KEY PRIVATE BANK Service code 26 · EIN 34-0797057	Advisory (Participants)	$1,046,126
CLS INVESTMENTS6+ years Filed as: CLS INVESTMENTS LLC Service code 26 · EIN 32-0070947	Advisory (Participants)	$370,996
BEACON FINANCIAL ADVISORS, LLC5 years Service code 26 · EIN 47-2589461	Advisory (Participants)	$204,666
STRATEGIC WEALTH PARTNERS6+ years Service code 26 · EIN 26-2328809	Advisory (Participants)	$118,997
STRATOS WEALTH PARTNERS6+ years Service code 26 · EIN 27-5273468	Advisory (Participants)	$116,220
WILLIS TOWERS WATSON US LLC2 years Filed as: WILLIS TOWERS WATSON Service code 11 1001 LAKESIDE AVENUE · CLEVELAND, OH 441141172	Actuarial	$116,208
LARSON FINANCIAL GROUP LLC5 years Filed as: LARSON FINANCIAL GROUP, LLC Service code 26 · EIN 20-4773945	Advisory (Participants)	$95,158
CARNEGIE INVESTMENT COUNSEL6+ years Service code 26 · EIN 26-4766975	Advisory (Participants)	$82,968
POTOMAC FUND MANAGEMENT, INC.5 years Service code 26 · EIN 52-1542454	Advisory (Participants)	$81,768

Plan features & details

Pension benefit codes2F2G2L2M2R3H

Plan features

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
2M
Code section 403(b)(7) accounts
Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$6.2M

$122 / participant

Investment mgmt$5M73.5%
Contract admin$2M24.2%
Other / not subdivided$143K2.3%

% of EOY assets

0.096%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MAYER HOFFMAN MCCANN PC
Auditor EIN: 431947695
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$106,695

$66,513+60.4%

$178,503-40.2%

$106,273+0.4%

Participation rate

93.3%

73.8%+19.5pp

81.9%+11.4pp

70.8%+22.5pp

Annual return

17.48%

21.81%-4.3pp

151.12%-133.6pp

21.70%-4.2pp

Employer contribution / active EE

$1,719

$1,776-3.2%

$5,011-65.7%

$2,722-36.8%

Participant deferral / active EE

$5,900

$3,679+60.4%

$5,202+13.4%

$4,601+28.2%

Admin fee / account holder

$103

$53+91.8%

$13,987-99.3%

$78+30.9%

Provider

Service type

Compensation

FINANCIAL ENGINES5 years

Service code 27 · EIN 77-0473565

Advisory (Plan)

$1,906,142

KEY BANK NATIONAL ASSOCIATION6+ years

Filed as: KEY PRIVATE BANK

Service code 26 · EIN 34-0797057

Advisory (Participants)

$1,046,126

CLS INVESTMENTS6+ years

Filed as: CLS INVESTMENTS LLC

Service code 26 · EIN 32-0070947

Advisory (Participants)

$370,996

BEACON FINANCIAL ADVISORS, LLC5 years

Service code 26 · EIN 47-2589461

Advisory (Participants)

$204,666

STRATEGIC WEALTH PARTNERS6+ years

Service code 26 · EIN 26-2328809

Advisory (Participants)

$118,997

STRATOS WEALTH PARTNERS6+ years

Service code 26 · EIN 27-5273468

Advisory (Participants)

$116,220

WILLIS TOWERS WATSON US LLC2 years

Filed as: WILLIS TOWERS WATSON

Service code 11

1001 LAKESIDE AVENUE · CLEVELAND, OH 441141172

Actuarial

$116,208

LARSON FINANCIAL GROUP LLC5 years

Filed as: LARSON FINANCIAL GROUP, LLC

Service code 26 · EIN 20-4773945

Advisory (Participants)

$95,158

CARNEGIE INVESTMENT COUNSEL6+ years

Service code 26 · EIN 26-4766975

Advisory (Participants)

$82,968

POTOMAC FUND MANAGEMENT, INC.5 years

Service code 26 · EIN 52-1542454

Advisory (Participants)

$81,768

CLEVELAND CLINIC SAVINGS AND INVESTMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CLEVELAND CLINIC SAVINGS AND INVESTMENT PLAN

Top hat statement on fileNQDC

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