Retirement plan

PENN STATE HEALTH 401(K) SAVINGS PLAN

Name: PENN STATE HEALTH - PENN STATE HEALTH 401(K) SAVINGS PLAN (2024) Form 5500
Creator: PENN STATE HEALTH
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PENN STATE HEALTH 401(K) SAVINGS PLAN, PENN STATE HEALTH

PENN STATE HEALTHEIN 47-3769205Plan #001PY 2024

P.O. BOX 804 - HERSHEY, PA 170330804717-531-6222pennstatehealth.orgLinkedIn10001+ employeeshospital & health care

Other plans on this EIN

1 filing

#002Retirement-$532.5M assets

Prospect flagsHigh retiree %Failed to transmit contributions

Top hat statement on fileNQDC

Filed April 4, 2018

Open the filing PDF

How to read this page

Total assets (EOY)

$2925.6M

-23.7% from 2019

Total participants

22,033

+2.1% from 2019

Average account balance

$134,491

-19.0% from 2019

Annual return

13.91%

+15248.49 pp from 2019

Benchmarks

See 275 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants>=10,000

Cohort275 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.93B

Not enough data

1 years with asset history on file

Average account balance

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

$134K

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.

21,753

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.

98.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$199.89M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+13.91%

Not enough data

1 years with return on file

Admin fee / account holder

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

$35

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

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

Service providers

Top 10 of 23 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 E. ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$334,577
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INVESTMENT COMPANY Service code 64 8515 E. ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$310,318
FORVIS, LLP4 years Service code 10 · EIN 44-0160260	Accounting	$30,818
ONEDIGITAL INVESTMENT ADVISORS LLC1 year Filed as: ONEDIGITAL INVESTMENT ADVISORS, LLC Service code 27 · EIN 43-1451524	Advisory (Plan)	$25,000
TIAA3 years Filed as: TIAA-CREF Service code 64 · EIN 13-1624203	Recordkeeping Fees	$12,997
AMERICAN FUNDS2 years Filed as: FORT PITT CAPITAL GROUP LLC Service code 99 · EIN 47-5006020	Other Fees	$7,818
LARSON FINANCIAL GROUP LLC7+ years Service code 99 · EIN 20-4773945	Other Fees	$6,378
FISHER INVESTMENTS2 years Service code 99 · EIN 20-2480800	Other Fees	$6,355
SIGNATURE ESTATE & INVESTMENT7+ years Service code 99 · EIN 95-4806910	Other Fees	$4,658
CHARLES SCHWAB & CO., INC.7+ years Service code 26 · EIN 94-1737782	Advisory (Participants)	$3,836

Plan features & details

Pension benefit codes2E2F2G2J2K2R2T3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$751K

$48 / participant

Recordkeeping$323K43.0%
Investment mgmt$397K52.9%
Other / not subdivided$31K4.1%

% of EOY assets

0.026%

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: FORVIS, LLP
Auditor EIN: 440160260
Audit fees: $30,818
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$134,491

$73,283+83.5%

$155,556-13.5%

$106,553+26.2%

Participation rate

98.2%

73.3%+24.9pp

78.2%+20.0pp

69.8%+28.4pp

Annual return

13.91%

15.76%-1.8pp

64.84%-50.9pp

17.37%-3.5pp

Employer contribution / active EE

$5,390

$2,241+140.6%

$4,675+15.3%

$3,359+60.5%

Participant deferral / active EE

$7,325

$4,567+60.4%

$5,631+30.1%

$5,562+31.7%

Admin fee / account holder

$35

$56-38.2%

$15,885-99.8%

$80-56.7%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 E. ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$334,577

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INVESTMENT COMPANY

Service code 64

8515 E. ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$310,318

FORVIS, LLP4 years

Service code 10 · EIN 44-0160260

Accounting

$30,818

ONEDIGITAL INVESTMENT ADVISORS LLC1 year

Filed as: ONEDIGITAL INVESTMENT ADVISORS, LLC

Service code 27 · EIN 43-1451524

Advisory (Plan)

$25,000

TIAA3 years

Filed as: TIAA-CREF

Service code 64 · EIN 13-1624203

Recordkeeping Fees

$12,997

AMERICAN FUNDS2 years

Filed as: FORT PITT CAPITAL GROUP LLC

Service code 99 · EIN 47-5006020

Other Fees

$7,818

LARSON FINANCIAL GROUP LLC7+ years

Service code 99 · EIN 20-4773945

Other Fees

$6,378

FISHER INVESTMENTS2 years

Service code 99 · EIN 20-2480800

Other Fees

$6,355

SIGNATURE ESTATE & INVESTMENT7+ years

Service code 99 · EIN 95-4806910

Other Fees

$4,658

CHARLES SCHWAB & CO., INC.7+ years

Service code 26 · EIN 94-1737782

Advisory (Participants)

$3,836

PENN STATE HEALTH 401(K) SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PENN STATE HEALTH 401(K) SAVINGS 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