Massachusetts › Health care and social assistance › 25,000 or more participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
Consolidated 403(b) Program of Mass General Brigham and Member Organizations
Sponsored by Mass General Brigham Incorporated, Somerville, 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.
Consolidated 403(b) Program of Mass General Brigham and Member Organizations is a 403(b) plan sponsored by Mass General Brigham Incorporated of Somerville, Massachusetts. For the plan year ending 30 Sep 2025 it reported 136,132 participants, 76,118 of them active, and net assets of $16.7B.
Net assets came to $123,011 per participant, well 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 $162M during the year, or $2,129 per active participant against a same-size median of $2,417; participants contributed $669M and $101M arrived as rollovers and other contributions. Benefits paid out totalled $1.02B.
Schedule C lists 2 service provider organisations paid $5,000 or more, with reported compensation of $4.3M: $31.84 per participant, below the same-size median of $36.41. Administrative expenses charged to the plan were $4.4M. 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 $5.57B in 2013 to $16.7B in 2024 (up 201%), and participants from 84,795 to 136,132 (up 61%).
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 | $123,011 | $62,774 | $30,764 | $53,102 |
| Employer contributions per active participant | $2,129 | $2,417 | $1,536 | $2,175 |
| Schedule C compensation per participant | $31.84 | $36.41 | $93.85 | $123 |
| Schedule C compensation, share of net assets | 0.03% | 0.07% | 0.31% | 0.26% |
| Administrative expenses per participant | $32.05 | $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 | 136,132 | $16.7B | $123,011 | $162M | $669M | $4.3M |
| 2023 | 131,090 | $14.9B | $113,846 | $149M | $602M | $4.8M |
| 2022 | 125,671 | $12.1B | $96,182 | $130M | $562M | $5.5M |
| 2021 | 118,965 | $10.5B | $88,180 | $126M | $515M | $4.8M |
| 2020 | 111,219 | $12.4B | $111,327 | $168M | $474M | $5.3M |
| 2019 | 105,589 | $10.3B | $97,207 | $104M | $420M | $3.9M |
| 2018 | 98,023 | $9.23B | $94,160 | $131M | $377M | $3.9M |
| 2017 | 81,366 | $8.24B | $101,329 | $120M | $339M | $3.6M |
| 2016 | 75,246 | $7.48B | $99,439 | $319M | $116M | $3.3M |
| 2015 | 88,345 | $6.49B | $73,489 | $121M | $281M | $3.5M |
| 2014 | 88,204 | $5.75B | $65,196 | $113M | $263M | $2.0M |
| 2013 | 84,795 | $5.57B | $65,663 | $85.1M | $235M | $1.2M |
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$14,924,058,475
- Employer contributions$162,025,356
- Participant contributions$668,818,528
- Rollovers and other contributions$101,327,889
- Total contributions$932,171,773
- Total income, including investment results$2,851,006,111
- Benefits paid$1,024,985,340
- Administrative expenses$4,362,688
- Total expenses$1,029,348,028
- Net income$1,821,658,083
- Net transfers$0
- Net assets, end of year$16,745,716,558
Participants
- Active participants76,118
- Retired or separated, receiving benefits12
- Retired or separated, entitled to future benefits59,054
- Participants with account balances133,925
- Total participants, end of year136,132
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Fidelity Investments | Participant loan processing | $4,322,807 | $0 |
| TIAA-CREF | Participant loan processing | $11,412 | $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
- Recordkeeping fees$4,351,276
- Contract administrator fees$11,412
- Total administrative expenses$4,362,688
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)$12.9B · 77.3%
- Other investments$2.47B · 14.7%
- Insurance company general account$1.19B · 7.1%
- Pooled separate accounts$67.1M · 0.4%
- Participant loans$58.7M · 0.4%
- Receivables$19.2M · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmWolf & Company, P.C.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- 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)2TTotal or partial participant-directed account plan with a default investment account3HPlan sponsor(s) is (are) a member(s) of a controlled group2NCode section 408 accounts and annuities2EProfit-sharing plan2RParticipant-directed brokerage accounts provided as an investment option under the plan2S401(k) plan or 403(b) plan that provides for automatic enrollment2KCode section 401(m) arrangement2MCode section 403(b)(7) accounts (custodial accounts for regulated investment company stock)
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 622000: Hospitals.
Other plans of Mass General Brigham Incorporated
| Plan | Participants | Net assets |
|---|---|---|
| Consolidated Cash Balance Program of Mass General Brigham and Member Organizations | 96,507 | $11.6B |
| Consolidated 401(a) and 401(k) Program of Mass General Brigham and Member Organizations | 9,930 | $645M |
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 |
| Beth Israel Lahey 403(b) Retirement Savings Plan | Beth Israel Lahey Health | 47,712 | $3.51B | $73,523 |
| The Children's Hospital Corporation Tax-Deferred Annuity Plan | The Children's Hospital Corporation | 26,644 | $1.92B | $72,142 |
| 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 Consolidated 403(b) Program of Mass General Brigham and Member Organizations?
136,132 participants at the end of the plan year ending 30 Sep 2025, of whom 76,118 were active employees, with net assets of $16,745,716,558. 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 Mass General Brigham Incorporated contribute per participant?
The filing reports $162,025,356 in employer contributions for the year, which is $2,129 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 $4,334,219 in compensation to service provider organisations, $31.84 per participant or 0.03% 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 $4,362,688. 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 Mass General Brigham Incorporated. Recordkeeping or administration: Fidelity Investments and TIAA-CREF. The financial statements were audited by Wolf & Company, 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 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 Oct 2024 to 30 Sep 2025, received by the Department of Labor on 2 Jul 2026. 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 04-3230035, plan 010, received 2 Jul 2026; 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.