Retirement plan

BEACON RETIREMENT SAVINGS 403(B) PLAN

Name: BEACON HEALTH SYSTEM, INC. - BEACON RETIREMENT SAVINGS 403(B) PLAN (2023) Form 5500
Creator: BEACON HEALTH SYSTEM, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BEACON RETIREMENT SAVINGS 403(B) PLAN, BEACON HEALTH SYSTEM, INC.

BEACON HEALTH SYSTEM, INC.EIN 45-3864076Plan #003PY 2023

615 N MICHIGAN ST - SOUTH BEND, IN 46601574-647-6508beaconhealthsystem.orgLinkedIn5001-10000 employeeshospital & health care

Other plans on this EIN

1 filing

#004Retirement-$54.3M assets

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed March 8, 2013

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)

$602.8M

-11.5% from 2016

Total participants

10,675

-4.8% from 2016

Average account balance

$57,155

-3.8% from 2016

Annual return

21.60%

-1.99 pp from 2016

Benchmarks

See 224 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants5,000-9,999

Cohort224 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$694.92M

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

10,573

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.

97.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$58.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+15.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$85

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 9 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS9+ years Service code 12 · EIN 13-3689044	Float revenue; Participant loan proce...	$766,745
JELLYVISION LAB, INC.3 years Filed as: JELLYVISIONS LAB, INC. Service code 16 · EIN 36-4442819	Consulting	$25,093
PLANTE & MORAN, PLLC1 year Filed as: PLANTE & MORAN PLLC Service code 10 · EIN 38-1357951	Accounting	$23,000
GLOBAL RETIREMENT PARTNERS LLC4 years Filed as: GLOBAL RETIREMENT PARTNERS, LLC Service code 16 · EIN 47-1411118	Consulting	$22,500
FORVIS, LLP1 year Service code 10 · EIN 44-0160260	Accounting	$22,470
SHERMAN & HOWARD1 year Filed as: TAFT STETTINIUS & HOLLISTER LAW LLP Service code 29 · EIN 31-0541755	Legal	$13,367
CORIENT PRIVATE WEALTH LLC1 year Service code 33 · EIN 88-0967642	Securities brokerage commissions and ...	$6,180
CHARLES SCHWAB & CO., INC.9+ years Service code 33 · EIN 94-1737782	Securities brokerage; Securities brok...	$2,447
MID ATLANTIC CAPITAL CORPORATION9+ years Service code 33 · EIN 25-1409618	Securities brokerage commissions and ...	$0

Plan features & details

Pension benefit codes2F2G2L2M2R2S2T3D3H

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.
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.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
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

$885K

$115 / participant

Recordkeeping$767K86.7%
Investment mgmt$59K6.7%
Legal$13K1.5%
Other / not subdivided$45K5.1%

% of EOY assets

0.147%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: $45,470
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$57,155

$59,312-3.6%

$149,740-61.8%

$103,657-44.9%

Participation rate

98.3%

70.3%+28.0pp

78.8%+19.5pp

73.4%+24.9pp

Annual return

21.60%

78.03%-56.4pp

134.51%-112.9pp

33.13%-11.5pp

Employer contribution / active EE

$2,221

$2,187+1.6%

$4,821-53.9%

$3,216-30.9%

Participant deferral / active EE

$5,094

$3,719+36.9%

$5,683-10.4%

$5,218-2.4%

Admin fee / account holder

$84

$103-18.3%

$13,222-99.4%

$114-26.5%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS9+ years

Service code 12 · EIN 13-3689044

Float revenue; Participant loan proce...

$766,745

JELLYVISION LAB, INC.3 years

Filed as: JELLYVISIONS LAB, INC.

Service code 16 · EIN 36-4442819

Consulting

$25,093

PLANTE & MORAN, PLLC1 year

Filed as: PLANTE & MORAN PLLC

Service code 10 · EIN 38-1357951

Accounting

$23,000

GLOBAL RETIREMENT PARTNERS LLC4 years

Filed as: GLOBAL RETIREMENT PARTNERS, LLC

Service code 16 · EIN 47-1411118

Consulting

$22,500

FORVIS, LLP1 year

Service code 10 · EIN 44-0160260

Accounting

$22,470

SHERMAN & HOWARD1 year

Filed as: TAFT STETTINIUS & HOLLISTER LAW LLP

Service code 29 · EIN 31-0541755

Legal

$13,367

CORIENT PRIVATE WEALTH LLC1 year

Service code 33 · EIN 88-0967642

Securities brokerage commissions and ...

$6,180

CHARLES SCHWAB & CO., INC.9+ years

Service code 33 · EIN 94-1737782

Securities brokerage; Securities brok...

$2,447

MID ATLANTIC CAPITAL CORPORATION9+ years

Service code 33 · EIN 25-1409618

Securities brokerage commissions and ...

BEACON RETIREMENT SAVINGS 403(B) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BEACON RETIREMENT SAVINGS 403(B) 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