Vermont › Health care and social assistance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
The University of Vermont Medical Center 403(b) Plan
Sponsored by The University of Vermont Health Network 403(b)) Retirement Savings Plan, Burlington, VT
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. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
The University of Vermont Medical Center 403(b) Plan is a 401(k) plan sponsored by The University of Vermont Health Network 403(b)) Retirement Savings Plan of Burlington, Vermont. For the plan year ending 31 Dec 2024 it reported 17,083 participants, 13,241 of them active, and net assets of $2.22B.
Net assets came to $129,938 per participant, well above the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and well above the $30,764 median for defined contribution plans in health care and social assistance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $68.0M during the year, or $5,133 per active participant against a same-size median of $2,424; participants contributed $90.2M and $12.2M arrived as rollovers and other contributions. Benefits paid out totalled $176M.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $1.7M: $101 per participant, well above the same-size median of $53.38. Administrative expenses charged to the plan were $1.7M. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $465M in 2009 to $2.22B in 2024 (up 377%), and participants from 6,286 to 17,083 (up 172%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $129,938 | $64,499 | $30,764 | $53,102 |
| Employer contributions per active participant | $5,133 | $2,424 | $1,536 | $2,175 |
| Schedule C compensation per participant | $101 | $53.38 | $93.85 | $123 |
| Schedule C compensation, share of net assets | 0.08% | 0.09% | 0.31% | 0.26% |
| Administrative expenses per participant | $100 | $54.85 | $86.53 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 5,000 to 24,999 participants (2,605 plans), health care and social assistance (9,402) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 17,083 | $2.22B | $129,938 | $68.0M | $90.2M | $1.7M |
| 2023 | 16,391 | $1.96B | $119,880 | $61.0M | $80.2M | $1.8M |
| 2022 | 16,501 | $1.65B | $99,930 | $52.3M | $61.1M | $1.6M |
| 2021 | 13,040 | $1.77B | $135,728 | $48.9M | $56.0M | $1.5M |
| 2020 | 12,420 | $1.56B | $125,787 | $41.2M | $52.6M | $707K |
| 2019 | 95,385 | $1.35B | $14,151 | $44.8M | $48.0M | $155K |
| 2018 | 13,069 | $1.13B | $86,587 | $39.8M | $41.5M | $554K |
| 2017 | 12,524 | $1.17B | $93,568 | $36.9M | $37.3M | $235K |
| 2016 | 11,601 | $986M | $84,984 | $35.8M | $35.1M | $139K |
| 2015 | 11,290 | $900M | $79,743 | $33.9M | $33.0M | $131K |
| 2014 | 11,312 | $868M | $76,751 | $31.9M | $30.3M | $253K |
| 2013 | 9,156 | $797M | $87,082 | $29.7M | $28.0M | $128K |
| 2012 | 9,173 | $652M | $71,129 | $28.2M | $27.0M | $151K |
| 2011 | 8,715 | $560M | $64,285 | $27.1M | $25.9M | $161K |
| 2010 | 8,567 | $538M | $62,835 | $25.5M | $24.2M | $171K |
| 2009 | 6,286 | $465M | $74,042 | $22.7M | $22.2M | $208K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$1,964,953,494
- Employer contributions$67,971,696
- Participant contributions$90,203,547
- Rollovers and other contributions$12,184,603
- Total contributions$170,359,846
- Total income, including investment results$432,990,555
- Benefits paid$176,030,039
- Administrative expenses$1,715,154
- Total expenses$178,231,872
- Net income$254,758,683
- Net transfers$11,119
- Net assets, end of year$2,219,723,296
Participants
- Active participants13,241
- Retired or separated, receiving benefits170
- Retired or separated, entitled to future benefits3,618
- Participants with account balances16,212
- Total participants, end of year17,083
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Fid Inv Inst Ops Co. | Recordkeeping and information management; Investment advisory (participants); Participant loan processing | $1,201,647 | $0 |
| Strategic Advisers | Investment advisory (plan) | $367,879 | $0 |
| Capfinancial Partners, LLC | Investment advisory (plan) | $93,176 | $0 |
| McSoley McCoy & Co. | Accounting (including auditing); Investment advisory (plan) | $35,000 | $0 |
| Variable Annuity Life Insurance | Insurance agents and brokers; Insurance services | $23,916 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Investment advisory and management fees$839,802
- Recordkeeping fees$815,708
- IQPA audit fees$35,000
- Other administrative expenses$24,644
- Total administrative expenses$1,715,154
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Registered investment companies (mutual funds)$2.10B · 94.8%
- Insurance company general account$58.1M · 2.6%
- Cash (interest and non-interest bearing)$40.8M · 1.8%
- Participant loans$14.8M · 0.7%
- Pooled separate accounts$2.2M · 0.1%
- Receivables$281K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmMcSoley McCoy & Co.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $7,500,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2EProfit-sharing plan2JCode section 401(k) feature2LCode section 403(b)(1) arrangement (annuity contracts)2MCode section 403(b)(7) accounts (custodial accounts for regulated investment company stock)2RParticipant-directed brokerage accounts provided as an investment option under the plan2S401(k) plan or 403(b) plan that provides for automatic enrollment2TTotal or partial participant-directed account plan with a default investment account3FPlan sponsor(s) received services of leased employees3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 622000: Hospitals.
Similar plans in Vermont
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Rutland Regional Health Services Retirement Savings Plan | Rutland Regional Medical Center | 2,370 | $289M | $121,941 |
| Retirement Plan for Employees of Howardcenter | Howard Center | 1,892 | $110M | $58,277 |
| Southwestern Vermont Health Care 403(b) | Southwestern Vermont Health Care | 1,523 | $80.1M | $52,624 |
| Gifford Health Care, Inc. 403(b) Retirement Plan | Gifford Health Care, Inc. | 1,270 | $74.1M | $58,347 |
| Northwestern Medical Center, Inc. 403(b) Plan | Northwestern Medical Center, Inc. | 1,025 | $93.2M | $90,918 |
| Springfield 401(k) Plan | Springfield Hospital | 991 | $38.7M | $39,013 |
Defined contribution plans in health care and social assistance closest in size.
Questions and answers
How big is The University of Vermont Medical Center 403(b) Plan?
17,083 participants at the end of the plan year ending 31 Dec 2024, of whom 13,241 were active employees, with net assets of $2,219,723,296. Among defined contribution plans that places it in the 5,000 to 24,999 participants band, which held 2,605 plans in plan year 2024.
What does The University of Vermont Health Network 403(b)) Retirement Savings Plan contribute per participant?
The filing reports $67,971,696 in employer contributions for the year, which is $5,133 per active participant; the median for plans of the same type and size was $2,424 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $1,721,618 in compensation to service provider organisations, $101 per participant or 0.08% of net assets. The same-size median among plans reporting any Schedule C compensation was $53.38 per participant. Administrative expenses on Schedule H were $1,715,154. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is The University of Vermont Health Network 403(b)) Retirement Savings Plan. Recordkeeping or administration: Fid Inv Inst Ops Co.. Investment advisory or management: Fid Inv Inst Ops Co., Strategic Advisers and Capfinancial Partners, LLC. The financial statements were audited by McSoley McCoy & Co.. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 13 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 03-0219309, plan 006, received 13 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.