Retirement plan

CLEVELAND CLINIC INVESTMENT PENSION PLAN

Name: THE CLEVELAND CLINIC FOUNDATION - CLEVELAND CLINIC INVESTMENT PENSION PLAN (2018) Form 5500
Creator: THE CLEVELAND CLINIC FOUNDATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CLEVELAND CLINIC INVESTMENT PENSION PLAN, THE CLEVELAND CLINIC FOUNDATION

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 filings

#002Retirement-$4.43B assets #001Retirement-$1.19B assets #003Retirement-$828.1M assets

Prospect flagsLow returnsLow assets / participant

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.

Open the filing PDF

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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

See 224 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants>=10,000

Cohort224 peers

Snapshot2018

Participant deferral / active EE

median $3,263

Employer contribution / active EE

$2,129

median $1,456

Participation rate

98.4%

median 81.9%

Avg account balance

$15,745

median $42,754

Admin fee / account holder

$12

median $39

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 INVESTMENTS4+ years Filed as: CLS INVESTMENTS LLC 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 INVESTMENTS LTD4+ years Filed as: FLEXIBLE PLAN INVESTMENTS Service code 26 · EIN 38-2340348	Advisory (Participants)	$9,729
STRATOS WEALTH PARTNERS2 years Service code 26 · EIN 27-5273468	Advisory (Participants)	$9,609
LINEWEAVER WEALTH ADVISORS LLC3 years Service code 26 · EIN 47-1966492	Advisory (Participants)	$7,565
SEQUOIA FINANCIAL ADVISORS3 years Service code 26 · EIN 27-7729029	Advisory (Participants)	$6,817
BEACON FINANCIAL ADVISORS, LLC2 years Service code 26 · EIN 47-2589461	Advisory (Participants)	$6,649

Plan features & details

Pension benefit codes2A2E2F2G2R3H

Plan features

2A
Age/service weighted or new comparability plan
Age/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).
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.
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

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$15,745

$46,969-66.5%

$154,110-89.8%

$73,367-78.5%

Participation rate

98.4%

72.4%+26.0pp

83.0%+15.4pp

69.5%+28.9pp

Annual return

-5.55%

821.68%-827.2pp

735.22%-740.8pp

173.45%-179.0pp

Employer contribution / active EE

$2,129

$1,723+23.6%

$5,298-59.8%

$2,499-14.8%

Participant deferral / active EE

$3,162-100.0%

$5,081-100.0%

$4,033-100.0%

Admin fee / account holder

$12

$47-74.5%

$13,412-99.9%

$68-82.6%

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 INVESTMENTS4+ years

Filed as: CLS INVESTMENTS LLC

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 INVESTMENTS LTD4+ years

Filed as: FLEXIBLE PLAN INVESTMENTS

Service code 26 · EIN 38-2340348

Advisory (Participants)

$9,729

STRATOS WEALTH PARTNERS2 years

Service code 26 · EIN 27-5273468

Advisory (Participants)

$9,609

LINEWEAVER WEALTH ADVISORS LLC3 years

Service code 26 · EIN 47-1966492

Advisory (Participants)

$7,565

SEQUOIA FINANCIAL ADVISORS3 years

Service code 26 · EIN 27-7729029

Advisory (Participants)

$6,817

BEACON FINANCIAL ADVISORS, LLC2 years

Service code 26 · EIN 47-2589461

Advisory (Participants)

$6,649

CLEVELAND CLINIC INVESTMENT PENSION PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CLEVELAND CLINIC INVESTMENT PENSION 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