Retirement plan

BAXTER INTERNATIONAL INC. AND SUBS INCENTIVE INVESTMENT PLAN

Name: BAXTER INTERNATIONAL INC. - BAXTER INTERNATIONAL INC. AND SUBS INCENTIVE INVESTMENT PLAN (2019) Form 5500
Creator: BAXTER INTERNATIONAL INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BAXTER INTERNATIONAL INC. AND SUBS INCENTIVE INVESTMENT PLAN, BAXTER INTERNATIONAL INC.

BAXTER INTERNATIONAL INC.EIN 36-0781620Plan #023PY 2019

ONE BAXTER PARKWAY - DEERFIELD, IL 600154625224-948-2000baxter.comLinkedIn10001+ employeesmedical devices

Other plans on this EIN

2 filings

#004Retirement-$1.06B assets #003Retirement-$703.1M assets

Prospect flagsLow returnsCorrective distributions

Top hat statement on fileNQDC

Filed July 1, 2004 (most recent of 2 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.

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Total assets (EOY)

$2719.3M

-4.6% from 2016

Total participants

21,424

+4.1% from 2016

Average account balance

$130,034

-8.6% from 2016

Annual return

18.69%

-22.30 pp from 2016

Benchmarks

See 86 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants>=10,000

Cohort86 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.58B

Not enough data

1 years with asset history on file

Average account balance

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

$157K

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.

29,124

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.

95.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$294.58M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$19K

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

+12.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$127

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 17 by compensation

Provider	Service type	Compensation
VOYA RETIREMENT INSURANCE & ANNUITY5+ years Filed as: VOYA Service code 50 · EIN 04-3516284	Direct Payment	$853,965
STATE STREET GLOBAL ADVISORS5+ years Filed as: STATE STREET BANK & TRUST Service code 19 · EIN 04-1867445	Securities Custodian	$850,767
PGIM INVESTMENTS5+ years Filed as: JENNISON ASSOCIATES Service code 28 · EIN 52-2069785	Investment Management	$467,542
TRANSAMERICA RETIREMENT SOLUTIONS5+ years Filed as: TRANSAMERICA Service code 28 · EIN 13-2509799	Investment Management	$384,480
AB FUNDS2 years Filed as: ALLIANCE BERNSTEIN Service code 28 · EIN 13-3434400	Investment Management	$372,941
LOOMIS SAYLES5+ years Service code 28 · EIN 04-1554520	Investment Management	$324,069
THE BANK OF NEW YORK MELLON5+ years Filed as: STANDISH MELLON Service code 28 · EIN 25-1890416	Investment Management	$240,159
PRUDENTIAL RETIREMENT INSURANCE AND5+ years Filed as: PRUDENTIAL Service code 28 · EIN 22-1211670	Investment Management	$180,892
BAXTER5+ years Service code 14 · EIN 36-2604143	Plan Administrator	$94,988
WILLIS TOWERS WATSON US LLC2 years Filed as: WILLIS TOWERS WATSON Service code 11 · EIN 23-1159360	Actuarial	$72,061

Plan features & details

Pension benefit codes2E2F2H2J2K2O2R2S2T3H

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

$4.2M

$350 / participant

Investment mgmt$2M48.4%
Contract admin$2M42.8%
Other / not subdivided$371K8.8%

% of EOY assets

0.155%

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: CROWE LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$130,034

$81,961+58.7%

$141,200-7.9%

$89,609+45.1%

Participation rate

95.7%

64.9%+30.9pp

82.5%+13.3pp

69.6%+26.2pp

Annual return

18.69%

36.14%-17.4pp

71.41%-52.7pp

33.65%-15.0pp

Employer contribution / active EE

$4,195

$2,268+85.0%

$4,736-11.4%

$2,584+62.3%

Participant deferral / active EE

$6,781

$5,316+27.5%

$6,710+1.0%

$4,222+60.6%

Admin fee / account holder

$201

$68+195.7%

$10,265-98.0%

$72+181.0%

Provider

Service type

Compensation

VOYA RETIREMENT INSURANCE & ANNUITY5+ years

Filed as: VOYA

Service code 50 · EIN 04-3516284

Direct Payment

$853,965

STATE STREET GLOBAL ADVISORS5+ years

Filed as: STATE STREET BANK & TRUST

Service code 19 · EIN 04-1867445

Securities Custodian

$850,767

PGIM INVESTMENTS5+ years

Filed as: JENNISON ASSOCIATES

Service code 28 · EIN 52-2069785

Investment Management

$467,542

TRANSAMERICA RETIREMENT SOLUTIONS5+ years

Filed as: TRANSAMERICA

Service code 28 · EIN 13-2509799

Investment Management

$384,480

AB FUNDS2 years

Filed as: ALLIANCE BERNSTEIN

Service code 28 · EIN 13-3434400

Investment Management

$372,941

LOOMIS SAYLES5+ years

Service code 28 · EIN 04-1554520

Investment Management

$324,069

THE BANK OF NEW YORK MELLON5+ years

Filed as: STANDISH MELLON

Service code 28 · EIN 25-1890416

Investment Management

$240,159

PRUDENTIAL RETIREMENT INSURANCE AND5+ years

Filed as: PRUDENTIAL

Service code 28 · EIN 22-1211670

Investment Management

$180,892

BAXTER5+ years

Service code 14 · EIN 36-2604143

Plan Administrator

$94,988

WILLIS TOWERS WATSON US LLC2 years

Filed as: WILLIS TOWERS WATSON

Service code 11 · EIN 23-1159360

Actuarial

$72,061

BAXTER INTERNATIONAL INC. AND SUBS INCENTIVE INVESTMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BAXTER INTERNATIONAL INC. AND SUBS INCENTIVE 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