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Industry · Form 5500 business code 621112
Offices of Physicians, 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.
For plan year 2024, 255 retirement plans in offices of physicians, mental health specialists with 100 or more participants filed Form 5500: 241 defined contribution and 14 defined benefit. They reported 644,148 participant records and $85.5B in net assets, counting every plan on the form.
The median defined contribution plan held $33,035 per participant, well below the national median of $53,031, and its employer put in $1,765 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $103 per participant against $123 nationally.
Employers contributed $2.86B and participants $1.77B during the year, and the plans paid out $4.13B in benefits.
In 2009 the same group numbered 158 plans with $18.7B; by 2024 it was 255 plans (up 61%) and $85.5B (up 357%). 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 | $33,035 | $53,031 | $260,602 | $86,234 |
| Employer contributions per active participant | $1,765 | $2,174 | $22,215 | $10,244 |
| Schedule C compensation per participant | $103 | $123 | $277 | $344 |
| Schedule C compensation, share of net assets | 0.35% | 0.26% | 0.22% | 0.42% |
| Administrative expenses per participant | $88.79 | $116 | $277 | $527 |
Medians across plans with 100 or more participants (233 DC and 14 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 | $20,277 | $33,035 | $51,982 | 233 |
| Employer contributions per active participant | $909 | $1,765 | $2,943 | 223 |
| Schedule C compensation per participant | $43.01 | $103 | $197 | 217 |
| Administrative expenses per participant | $37.34 | $88.79 | $159 | 228 |
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 | 28 | 133,461 | $16.4B | $189M | $736M | $33,791 | $149 |
| 2024 | 255 | 644,148 | $85.5B | $2.86B | $1.77B | $33,035 | $103 |
| 2023 | 248 | 614,847 | $77.1B | $1.87B | $1.59B | $29,390 | $90.28 |
| 2022 | 247 | 592,578 | $69.1B | $2.24B | $1.44B | $24,163 | $83.61 |
| 2021 | 238 | 550,922 | $80.1B | $2.60B | $1.33B | $26,995 | $78.01 |
| 2020 | 224 | 517,837 | $69.7B | $3.50B | $1.16B | $26,688 | $71.73 |
| 2019 | 220 | 496,639 | $59.6B | $3.06B | $1.07B | $23,320 | $62.89 |
| 2018 | 199 | 484,914 | $49.1B | $2.40B | $1.03B | $22,316 | $60.10 |
| 2017 | 192 | 456,908 | $49.9B | $2.67B | $954M | $25,350 | $56.08 |
| 2016 | 183 | 448,900 | $42.2B | $2.39B | $899M | $24,050 | $44.86 |
| 2015 | 179 | 428,080 | $38.3B | $2.01B | $827M | $23,814 | $33.29 |
| 2014 | 177 | 400,954 | $37.0B | $2.27B | $725M | $24,870 | $33.25 |
| 2013 | 174 | 372,911 | $33.2B | $1.94B | $671M | $24,078 | $20.95 |
| 2012 | 169 | 355,863 | $28.5B | $1.78B | $596M | $19,998 | $31.56 |
| 2011 | 162 | 330,631 | $24.1B | $1.93B | $528M | $17,838 | $30.20 |
| 2010 | 160 | 315,903 | $20.0B | $1.26B | $630M | $18,590 | $32.20 |
| 2009 | 158 | 313,649 | $18.7B | $1.40B | $450M | $16,681 | $24.89 |
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 258 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 258 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| Mayo 403(b) Plan | Mayo Clinic | MN | DC | 112,693 | $15.1B | $133,937 | $1,955 | $138 |
| Mayo Pension Plan | Mayo Clinic | MN | DB | 93,747 | $11.7B | $124,646 | $3,595 | $156 |
| Kaiser Permanente Retirement Plan for Scpmg | Southern California Permanente Medical Group | CA | DB | 69,139 | $8.38B | $121,192 | $13,924 | — |
| Kaiser Permanente Employees Pension Plan | The Permanente Medical Group, Inc. | CA | DB | 55,868 | $5.63B | $100,724 | $4,179 | — |
| Retirement Plan for Physicians and Salaried Employees of the Permanente Medical Group, Inc. | The Permanente Medical Group, Inc. | CA | DB | 30,132 | $11.4B | $379,602 | $29,875 | — |
| The Permanente Medical Group, Inc. Salary Deferral Plan | The Permanente Medical Group, Inc. | CA | DC | 30,066 | $9.88B | $328,692 | — | $82.96 |
| The Permanente Contribution Plan of the Permanente Medical Group, Inc. | The Permanente Medical Group, Inc. | CA | DC | 25,845 | $7.90B | $305,802 | $16,015 | $67.26 |
| Centurion 401(k) Savings Plan | MHM Services, Inc. | VA | DC | 10,199 | $189M | $18,521 | $885 | $17.57 |
| Kaiser Permanente Supplemental Savings and Retirement Plan for Scpmg | Southern California Permanente Medical Group | CA | DC | 9,731 | $899M | $92,408 | $6,488 | $64.66 |
| Medisys Health Network, Inc. 403(b) Plan | Medisys Health Network, Inc. | NY | DC | 7,694 | $387M | $50,260 | $595 | $120 |
| Naphcare US Inc. 401(k) Plan | Naphcare U.S., Inc. | AL | DC | 6,538 | $61.1M | $9,353 | $270 | $27.50 |
| Altamed Health Services Corporation 403(b) Plan | Altamed Health Services Corporation | CA | DC | 6,343 | $266M | $42,011 | $2,465 | $76.79 |
| Mayo Retirement Savings Plan | Mayo Holding Company | MN | DC | 5,010 | $813M | $162,349 | $34 | $142 |
| Physician Affiliate Group of New York Retirement Plan | Physician Affiliate Group of New York, P.C. (Pagny) | NY | DC | 4,919 | $1.26B | $256,895 | $12,028 | $132 |
| Employee Benefit Plan of Sea-Mar Community Health Centers | Sea-Mar Community Health Centers | WA | DC | 4,864 | $73.3M | $15,061 | $1,655 | $15.55 |
| Centerstone of America, Inc. 403(b) Retirement Plan | Centerstone of America, Inc. | TN | DC | 4,687 | $121M | $25,730 | $785 | $89.33 |
| The Association of University Physicians Pension Plan | The Association of University Physicians | WA | DC | 4,310 | $499M | $115,854 | $8,587 | $21.79 |
| University of Louisville Physicians, Inc. Profit Sharing Plan | University of Louisville Physicians, Inc. | KY | DC | 3,707 | $161M | $43,428 | $2,562 | $45.00 |
| Association of University Physicians Tda Plan | The Association of University Physicians | WA | DC | 3,447 | $228M | $66,177 | — | $4.06 |
| Alternative Behavior Strategies Retirement Plan | Alternative Behavior Strategies, LLC | CA | DC | 3,328 | $28.4M | $8,536 | $603 | $42.89 |
| Pantogran LLC DBA Center for Autism and Related Disorders 401(k) Plan | Pantogran LLC DBA Center for Autism and Related Disorders | FL | DC | 3,160 | $24.1M | $7,642 | $1 | $92.85 |
| Family Health Centers of San Diego Tax Deferred Annuity Plan | Family Health Centers of San Diego | CA | DC | 3,118 | $175M | $56,057 | $2,327 | $121 |
| Permanente Physicians Retirement Plan for Mapmg | Mid-Atlantic Permanente Medical Group | CA | DB | 3,038 | $893M | $293,789 | $7,080 | — |
| Southern California Permanente Medical Group Tax Savings Retirement Plan | Southern California Permanente Medical Group | CA | DC | 2,983 | $407M | $136,566 | $186 | $147 |
| West Virginia University Medical Corporation Retirement Plan | Wvu Health System | WV | DC | 2,870 | $392M | $136,738 | $12,903 | $77.59 |
| Behavioral Innovations Retirement Savings Plan | Monarch Behavioral Therapy Bii, LLC Dba/ Behavioral Innovations | TX | DC | 2,857 | $4.7M | $1,636 | $0 | $27.62 |
| West Virginia University Medical Corporation 403(b) Plan | Wvu Health System | WV | DC | 2,694 | $328M | $121,643 | — | $77.69 |
| Sanitas USA, Inc. 401(k) Plan | Sanitas USA, Inc. | FL | DC | 2,573 | $21.5M | $8,357 | $452 | $19.13 |
| Richelson Control Group 401(k) Plan | Eugene Therapy, LLC | MN | DC | 2,495 | $50.3M | $20,149 | $426 | $100 |
| Uva Physicians Group Retirement Plan | University of Virginia Physicians Group | VA | DC | 2,432 | $139M | $57,304 | $3,709 | $71.56 |
| University Physicians and Surgeons, Inc. Retirement Plan | University Physicians & Surgeons, Inc. | WV | DC | 2,406 | $167M | $69,287 | — | $25.91 |
| Uva Physicians Group Voluntary Tax-Deferred Savings Plan | University of Virginia Physicians Group | VA | DC | 2,323 | $127M | $54,548 | — | $28.90 |
| Yakima Valley Farm Workers Clinic Profit Sharing Plan | Yakima Valley Farm Workers Clinic | WA | DC | 2,310 | $46.8M | $20,277 | $2,028 | $1.00 |
| University Physicians & Surgeons, Inc. 401(a) TIAA-CREF Retirement Plan | University Physicians & Surgeons, Inc. | WV | DC | 2,260 | $107M | $47,304 | $3,946 | $11.29 |
| Northwest Permanente, P.C. Retirement Plan - PS Aspect | Northwest Permanente, P.C. | OR | DC | 2,043 | $768M | $375,779 | $3,363 | $3.04 |
| Community Health Association of Spokane 401(k) Plan | Community Health Association of Spokane | WA | DC | 2,002 | $133M | $66,427 | $4,103 | $119 |
| Northwest Permanente, P.C. Retirement Plan - MPP Aspect | Northwest Permanente, P.C. | OR | DC | 1,987 | $1.11B | $560,246 | $26,686 | $33.85 |
| St. Joseph Holdings, LLC 401(k) Plan | St. Joseph Holdings, LLC | LA | DC | 1,726 | $11.6M | $6,739 | $23 | $72.83 |
| Kaiser Permanente Physicians and Employees Retirement Plan | The Southeast Permanente Medical Group | CA | DB | 1,716 | $390M | $227,415 | $24,525 | — |
| General Physician, P.C. 401(k) Plan | General Physician, P.C. | NY | DC | 1,675 | $69.1M | $41,250 | $2,437 | $139 |
By plan size
By state
Questions and answers
How many retirement plans are there in offices of physicians, mental health specialists?
255 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 366 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, mental health specialists?
The median defined contribution plan reported $33,035 in net assets per participant (middle half of plans: $20,277 to $51,982); 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, mental health specialists?
The median defined contribution plan received $1,765 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, mental health specialists?
Among defined contribution plans that report any Schedule C compensation, the median was $103 per participant and 0.35% 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.