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Industry · Form 5500 business code 621111
Offices of Physicians (except mental health specialists): retirement plans
Plans whose sponsor entered this principal business activity code on Form 5500.
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. The business code is chosen by the filer from the list in the Form 5500 instructions.
1,939 retirement plans in offices of physicians (except mental health specialists) with 100 or more participants filed Form 5500 for plan year 2024 (1,856 defined contribution, 83 defined benefit). All Form 5500 pension filers in the group reported 1,552,479 participant records and $176.5B in net assets.
The median defined contribution plan held $101,465 per participant, well above the national median of $53,031, and its employer put in $4,630 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $175 per participant against $123 nationally.
Employers contributed $5.43B and participants $6.93B during the year, and the plans paid out $15.4B in benefits.
In 2009 the same group numbered 1,897 plans with $44.0B; by 2024 it was 1,939 plans (up 2%) and $176.5B (up 301%). From plan year 2023 the 100-participant line counts participants with account balances, which moved many plans to the short form.
Medians compared with all US plans
| Median plan, plan year 2024 | Industry: DC | US: DC | Industry: DB | US: DB |
|---|---|---|---|---|
| Net assets per participant | $101,465 | $53,031 | $55,544 | $86,234 |
| Employer contributions per active participant | $4,630 | $2,174 | $10,343 | $10,244 |
| Schedule C compensation per participant | $175 | $123 | $221 | $344 |
| Schedule C compensation, share of net assets | 0.20% | 0.26% | 0.37% | 0.42% |
| Administrative expenses per participant | $175 | $116 | $263 | $527 |
Medians across plans with 100 or more participants (1,765 DC and 80 DB plans with a Schedule H here). Fee medians cover plans reporting an amount. DC: defined contribution, such as 401(k) and 403(b). DB: defined benefit pension.
Distribution of DC plans
| Measure | 25th percentile | Median | 75th percentile | Plans |
|---|---|---|---|---|
| Net assets per participant | $47,299 | $101,465 | $173,506 | 1,765 |
| Employer contributions per active participant | $2,163 | $4,630 | $8,180 | 1,702 |
| Schedule C compensation per participant | $78.43 | $175 | $338 | 1,679 |
| Administrative expenses per participant | $72.76 | $175 | $348 | 1,729 |
Trend by plan year
| Plan year | Plans 100+ | Participants | Net assets | Employer contributions | Participant contributions | Median DC assets / participant | Median DC Sch. C / participant |
|---|---|---|---|---|---|---|---|
| 2025partial | 215 | 211,943 | $21.7B | $531M | $976M | $106,717 | $192 |
| 2024 | 1,939 | 1,552,479 | $176.5B | $5.43B | $6.93B | $101,465 | $175 |
| 2023 | 1,982 | 1,492,361 | $157.3B | $5.09B | $6.50B | $95,012 | $162 |
| 2022 | 2,106 | 1,415,988 | $132.6B | $4.80B | $5.89B | $81,610 | $169 |
| 2021 | 2,078 | 1,338,388 | $156.7B | $4.46B | $5.36B | $102,596 | $179 |
| 2020 | 2,083 | 1,303,380 | $138.1B | $4.14B | $4.95B | $95,988 | $164 |
| 2019 | 2,043 | 1,246,949 | $116.0B | $4.10B | $4.43B | $87,882 | $156 |
| 2018 | 1,999 | 1,163,921 | $92.9B | $3.94B | $3.69B | $77,659 | $141 |
| 2017 | 1,969 | 1,121,194 | $99.5B | $3.79B | $3.46B | $85,824 | $125 |
| 2016 | 1,944 | 1,069,364 | $83.8B | $3.47B | $3.09B | $77,690 | $114 |
| 2015 | 1,915 | 1,041,842 | $76.5B | $3.12B | $3.02B | $74,376 | $115 |
| 2014 | 1,901 | 996,505 | $75.7B | $3.03B | $2.72B | $80,098 | $111 |
| 2013 | 1,848 | 951,204 | $70.0B | $2.74B | $2.51B | $78,453 | $97.70 |
| 2012 | 1,850 | 913,332 | $58.4B | $2.63B | $2.30B | $68,518 | $88.45 |
| 2011 | 1,890 | 921,814 | $51.5B | $2.65B | $2.16B | $61,656 | $82.55 |
| 2010 | 1,868 | 931,364 | $51.3B | $2.43B | $2.05B | $62,652 | $81.42 |
| 2009 | 1,897 | 984,462 | $44.0B | $2.29B | $1.95B | $54,359 | $65.98 |
Plan year is the year in which the plan year began. The drop in large plans from 2023 follows a rule change: the 100-participant line now counts participants with account balances, so many plans moved to the short form.
Provider share
Service provider organisations named most often on the Schedule C of the 1,931 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 1,931 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| Optumcare 401(k) Retirement Plan | Prohealth Physicians, P.C. | MN | DC | 62,142 | $5.99B | $96,357 | $2,366 | $11.98 |
| Emory Healthcare, Inc. Retirement Savings and Matching Plan | Emory Healthcare, Inc. | GA | DC | 49,944 | $2.77B | $55,473 | $2,456 | $1.40 |
| Ochsner Clinic Foundation 401(k) Plan | Ochsner Clinic Foundation | LA | DC | 43,649 | $2.69B | $61,608 | $2,030 | $68.60 |
| Wellspan 403(b) Retirement Savings Plan | Wellspan Health | PA | DC | 27,878 | $2.64B | $94,780 | $4,390 | $67.97 |
| Teamhealth 401(k) Plan | Ameriteam Services, LLC | TN | DC | 24,670 | $2.10B | $85,108 | $1,087 | $147 |
| The 401(k) Plan for Permanente Medical Groups | Southern California Permanente Medical Group | CA | DC | 23,286 | $6.54B | $280,678 | $1,054 | $98.74 |
| Creative Solutions in Healthcare 401(k) Plan | Creative Solutions in Healthcare | TX | DC | 22,700 | $27.6M | $1,215 | $70 | $13.50 |
| Envision Healthcare Operating Inc. 401(k) Plan | Envision Healthcare Operating Inc. | TN | DC | 20,903 | $3.13B | $149,530 | $3,723 | $49.80 |
| Dartmouth Health 403(b) Plan | Dartmouth Health | NH | DC | 19,437 | $1.65B | $84,906 | $5,685 | $29.85 |
| Marshfield Clinic Salary Reduction Plan | Marshfield Clinic, Inc. | WI | DC | 13,782 | $1.80B | $130,272 | $1,361 | $20.89 |
| Prospect Medical Retirement Savings Plan a | Prospect Medical Holdings, Inc. | CA | DC | 13,551 | $552M | $40,704 | $301 | $104 |
| Dartmouth-Hitchcock Retirement Plan | Dartmouth Health | NH | DC | 13,071 | $1.07B | $82,030 | $0 | $48.85 |
| Scpmg Keogh Plan | Southern California Permanente Medical Group | CA | DC | 12,335 | $7.87B | $638,285 | — | $467 |
| Uhhs 401(k) Retirement Savings Plan | Uhhs | OH | DC | 11,846 | $767M | $64,737 | $607 | $57.62 |
| Atrius 401(k) Retirement Savings Plan | Atrius Mso, LLC | MN | DC | 10,541 | $1.61B | $153,199 | $6,261 | $22.17 |
| Employees Retirement Plan of Marshfield Clinic | Marshfield Clinic, Inc. | WI | DC | 10,255 | $1.27B | $123,408 | $824 | $1.46 |
| Oak Street Health, 401(k) Plan | Oak Street Health Mso, LLC | IL | DC | 9,777 | $199M | $20,349 | $1,891 | $50.89 |
| US Oncology, Inc. 401(k) Plan | US Oncology Corporate, Inc. | TX | DC | 9,745 | $357M | $36,683 | $1,418 | $47.60 |
| PMG Services, Inc. Thrift and Profit Sharing Plan | PMG Services, Inc. | FL | DC | 9,594 | $1.93B | $201,148 | $4,371 | $74.13 |
| Oneoncology, LLC Onerewards Retirement Plan | Oneoncology, LLC | TN | DC | 9,556 | $585M | $61,181 | $5,101 | $137 |
| The US Oncology Clinical Practice 401(k) Plan | US Oncology Corporate, Inc. | TX | DC | 9,162 | $1.26B | $137,077 | $5,382 | $38.08 |
| The Gi Alliance Management 401(k) Savings Plan | The Gi Alliance Management, LLC | TX | DC | 9,039 | $1.08B | $119,443 | $5,817 | $111 |
| Duly Health and Care 401(k) Plan | Midwest Physician Administrative Services, LLC, d/b/a Duly Health and | IL | DC | 8,800 | $1.14B | $129,838 | $2,131 | $80.54 |
| Loma Linda University Faculty Medical Group Multiple Employer Retirement Plan | Loma Linda University Faculty Medical Group | CA | DC | 8,532 | $700M | $82,032 | $10,931 | $33.88 |
| Kelsey-Seybold 401(k) Plan | KS Management Services, L.L.C. | MN | DC | 8,442 | $744M | $88,076 | $2,394 | $39.46 |
| Medamerica 401(k) Profit Sharing Plan for Employees of Vituity | Medamerica, Inc. DBA Vituity | CA | DC | 8,222 | $2.16B | $262,596 | $16,692 | $362 |
| Prospect Medical Retirement Savings Plan B | Prospect Medical Holdings, Inc. | CA | DC | 7,657 | $297M | $38,738 | $299 | $113 |
| U.S. Anesthesia Partners, Inc. 401(k) Plan | U.S. Anesthesia Partners, Inc. | TX | DC | 7,541 | $2.83B | $375,146 | $18,561 | $174 |
| Radiology Partners, Inc. 401(k) Profit Sharing Plan | Radiology Partners Inc. | TX | DC | 7,123 | $412M | $57,904 | $3,952 | $59.94 |
| Texas Oncology, P.A. 401(k) Plan | US Oncology Corporate, Inc. | TX | DC | 6,665 | $1.16B | $173,612 | $8,452 | $48.86 |
| Solaris 401(k) Plan | Solaris Health Holdings, LLC | FL | DC | 6,607 | $465M | $70,336 | $4,302 | $121 |
| Wmchealth Network Affiliated Employers 401(k) Plan | Westchester Medical Center Advanced Physician Services, P.C | NY | DC | 6,115 | $380M | $62,213 | $3,488 | $115 |
| University of Minnesota Physicians Retirement Savings and 401(k) Plan | University of Minnesota Physicians | MN | DC | 6,102 | $1.11B | $181,289 | $10,897 | $83.38 |
| Compass Health, Inc. 401(k) Plan | Compass Health, Inc. | MO | DC | 6,011 | $212M | $35,194 | $3,084 | $130 |
| Sound Physicians 401(k) Plan | Sound Inpatient Physicians, Inc. | WA | DC | 5,920 | $556M | $93,941 | $2,029 | $73.68 |
| Retina Consultants of America 401(k) Plan | Retina Group, Inc. DBA Retina Consultants of America | TX | DC | 5,820 | $353M | $60,682 | $2,923 | $78.07 |
| Napa Management Services Corporation 401(k) Plan | Napa Management Services Corporation | NY | DC | 5,801 | $1.48B | $255,665 | $9,724 | $107 |
| Chenmed, LLC 401(k) Plan | Chenmed, LLC | FL | DC | 5,569 | $218M | $39,109 | $4,348 | $126 |
| US Radiology Specialists 401(k) Retirement Plan | US Radiology Specialists, Inc. | NC | DC | 5,506 | $571M | $103,706 | $5,398 | $229 |
| University of Wisconsin Medical Foundation, Inc. Employees 401(K)/PROFIT Sharing Plan | University of Wisconsin Medical Foundation, Inc. | WI | DC | 5,133 | $768M | $149,560 | $6,817 | $49.48 |
By plan size
By state
Questions and answers
How many retirement plans are there in offices of physicians (except mental health specialists)?
1,939 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 4,891 pension plans on the full form. Smaller plans file Form 5500-SF and are counted separately where shown.
What is the typical 401(k) balance in offices of physicians (except mental health specialists)?
The median defined contribution plan reported $101,465 in net assets per participant (middle half of plans: $47,299 to $173,506); nationally it was $53,031. This is a plan-level average that includes former employees, not a typical person's balance.
What do employers contribute in offices of physicians (except mental health specialists)?
The median defined contribution plan received $4,630 in employer contributions per active participant, against $2,174 nationally. Plans with no employer contribution are included at zero.
What are average 401(k) fees in offices of physicians (except mental health specialists)?
Among defined contribution plans that report any Schedule C compensation, the median was $175 per participant and 0.20% of net assets (nationally $123 and 0.26%). Schedule C leaves out fund expense ratios and fees the employer pays, so it understates total cost.
Where does this come from?
Form 5500 annual reports in the EBSA research files, with filings received through 24 Aug 2026. Medians are computed by this site across plans with 100 or more participants.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files, public domain, with filings received through 24 Aug 2026. Totals count every pension plan on the full form; medians and the plan list cover plans with 100 or more participants. See the methodology.