Massachusetts › Health care and social assistance › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Beth Israel Lahey 403(b) Retirement Savings Plan
Sponsored by Beth Israel Lahey Health, Boston, MA
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.
Beth Israel Lahey 403(b) Retirement Savings Plan is a 403(b) plan sponsored by Beth Israel Lahey Health of Boston, Massachusetts. For the plan year ending 31 Dec 2024 it reported 47,712 participants, 39,601 of them active, and net assets of $3.51B.
Net assets came to $73,523 per participant, above the $62,774 median for defined contribution plans with 25,000 or more 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 $69.1M during the year, or $1,745 per active participant against a same-size median of $2,417; participants contributed $139M and $27.7M arrived as rollovers and other contributions. Benefits paid out totalled $245M.
Schedule C lists 6 service provider organisations paid $5,000 or more, with reported compensation of $2.2M: $45.42 per participant, above the same-size median of $36.41. Administrative expenses charged to the plan were $2.2M. 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 $112M in 2009 to $3.51B in 2024 (up 3032%), and participants from 11,987 to 47,712 (up 298%).
The independent accountant's opinion on the financial statements was disclaimer, 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 | $73,523 | $62,774 | $30,764 | $53,102 |
| Employer contributions per active participant | $1,745 | $2,417 | $1,536 | $2,175 |
| Schedule C compensation per participant | $45.42 | $36.41 | $93.85 | $123 |
| Schedule C compensation, share of net assets | 0.06% | 0.07% | 0.31% | 0.26% |
| Administrative expenses per participant | $45.61 | $38.81 | $86.53 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 25,000 or more participants (608 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 | 47,712 | $3.51B | $73,523 | $69.1M | $139M | $2.2M |
| 2023 | 40,452 | $2.40B | $59,240 | $3,000 | $17.6M | $215K |
| 2022 | 15,302 | $314M | $20,527 | $24K | $15.9M | $184K |
| 2021 | 14,669 | $393M | $26,778 | — | $15.3M | $208K |
| 2020 | 14,011 | $358M | $25,520 | — | $14.7M | $113K |
| 2019 | 13,943 | $319M | $22,886 | — | $13.1M | $60K |
| 2018 | 13,870 | $275M | $19,852 | — | $12.1M | $52K |
| 2017 | 13,453 | $298M | $22,151 | — | $11.2M | $36K |
| 2016 | 15,054 | $260M | $17,247 | — | $10.4M | $42K |
| 2015 | 12,795 | $247M | $19,272 | — | $9.9M | $36K |
| 2014 | 11,817 | $178M | $15,044 | — | $9.2M | $27K |
| 2013 | 11,867 | $168M | $14,180 | — | $8.4M | $0 |
| 2012 | 11,923 | $139M | $11,674 | — | $8.3M | $0 |
| 2011 | 12,752 | $125M | $9,823 | — | $8.0M | $6,000 |
| 2010 | 12,735 | $127M | $9,959 | — | $7.9M | $5,000 |
| 2009 | 11,987 | $112M | $9,343 | — | $7.4M | $2,000 |
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$2,396,382,678
- Employer contributions$69,099,782
- Participant contributions$138,771,475
- Rollovers and other contributions$27,731,838
- Total contributions$235,603,095
- Total income, including investment results$515,213,256
- Benefits paid$245,148,297
- Administrative expenses$2,176,203
- Total expenses$248,095,316
- Net income$267,117,940
- Net transfers$844,432,613
- Net assets, end of year$3,507,933,231
Participants
- Active participants39,601
- Retired or separated, receiving benefits342
- Retired or separated, entitled to future benefits7,664
- Participants with account balances29,416
- Total participants, end of year47,712
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Capfinancial Partners LLC | Consulting (general) | $1,403,379 | $0 |
| Fid Inv Instl Ops Co. | Participant loan processing | $284,860 | $0 |
| Strategic Advisers, Inc. | Investment advisory (plan) | $231,401 | $0 |
| BDO | Accounting (including auditing); Recordkeeping and information management | $185,222 | $0 |
| Willis Towers Watson US LLC | Consulting (general) | $62,059 | $0 |
| Nepc | Consulting (general); Investment advisory (plan) | $0 | $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
- Other administrative expenses$1,399,445
- Recordkeeping fees$284,860
- Investment advisory and management fees$231,401
- IQPA audit fees$185,222
- Contract administrator fees$75,275
- Total administrative expenses$2,176,203
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)$3.18B · 90.7%
- Other investments$159M · 4.5%
- Insurance company general account$94.4M · 2.7%
- Receivables$43.3M · 1.2%
- Participant loans$17.3M · 0.5%
- Pooled separate accounts$11.7M · 0.3%
Audit and compliance answers, as filed
- Accountant's opinionDisclaimer
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBDO USA, P.C.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- 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
2FERISA section 404(c) plan2GTotal participant-directed account plan2LCode 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 plan2TTotal or partial participant-directed account plan with a default investment account3HPlan 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.
Other plans of Beth Israel Lahey Health
| Plan | Participants | Net assets |
|---|---|---|
| Beth Israel Lahey Health 401(k) Retirement Savings Plan | 20,359 | $1.60B |
Similar plans in Massachusetts
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Fresenius Medical Care North America 401(k) Savings Plan | National Medical Care, Inc. | 71,611 | $4.37B | $61,010 |
| The Children's Hospital Corporation Tax-Deferred Annuity Plan | The Children's Hospital Corporation | 26,644 | $1.92B | $72,142 |
| Consolidated 403(b) Program of Mass General Brigham and Member Organizations | Mass General Brigham Incorporated | 136,132 | $16.7B | $123,011 |
| Boston Medical Center 403(b) Retirement Plan | Boston Medical Center | 21,595 | $1.71B | $79,403 |
| Bright Horizons 401(k) Plan | Bright Horizons Children's Centers LLC | 21,525 | $466M | $21,637 |
| Beth Israel Lahey Health 401(k) Retirement Savings Plan | Beth Israel Lahey Health | 20,359 | $1.60B | $78,628 |
Defined contribution plans in health care and social assistance closest in size.
Questions and answers
How big is Beth Israel Lahey 403(b) Retirement Savings Plan?
47,712 participants at the end of the plan year ending 31 Dec 2024, of whom 39,601 were active employees, with net assets of $3,507,933,231. Among defined contribution plans that places it in the 25,000 or more participants band, which held 608 plans in plan year 2024.
What does Beth Israel Lahey Health contribute per participant?
The filing reports $69,099,782 in employer contributions for the year, which is $1,745 per active participant; the median for plans of the same type and size was $2,417 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 $2,166,921 in compensation to service provider organisations, $45.42 per participant or 0.06% of net assets. The same-size median among plans reporting any Schedule C compensation was $36.41 per participant. Administrative expenses on Schedule H were $2,176,203. 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 Beth Israel Lahey Health. Recordkeeping or administration: Fid Inv Instl Ops Co. and BDO. Investment advisory or management: Strategic Advisers, Inc. and Nepc. The financial statements were audited by BDO USA, P.C.. 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 disclaimer opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. A disclaimer of opinion was the usual result of a limited-scope audit under the rules in force before 2021 and is not by itself a finding about the plan.
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 15 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 04-2103881, plan 005, received 15 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.