Massachusetts › Health care and social assistance › 25,000 or more participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
Consolidated Cash Balance 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.
Mass General Brigham Incorporated of Somerville, Massachusetts sponsors Consolidated Cash Balance Program of Mass General Brigham and Member Organizations, a cash balance pension plan. Its Form 5500 for the plan year ending 30 Sep 2025 shows 96,507 participants (62,951 active) and $11.6B in net assets.
Net assets came to $120,057 per participant, well above the $88,040 median for defined benefit plans with 25,000 or more participants and well above the $62,049 median for defined benefit 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.
Employer contributions were $188M for the year ($2,983 per active participant) and benefits paid were $440M. In a defined benefit plan the employer's contribution follows funding rules rather than a match formula, so it can swing widely from year to year.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $3.6M: $37.02 per participant, well below the same-size median of $143. Administrative expenses charged to the plan were $13.3M. 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 $3.70B in 2015 to $11.6B in 2024 (up 213%), and participants from 36,610 to 96,507 (up 164%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $120,057 | $88,040 | $62,049 | $86,221 |
| Employer contributions per active participant | $2,983 | $6,524 | $7,491 | $10,244 |
| Schedule C compensation per participant | $37.02 | $143 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.03% | 0.26% | 0.39% | 0.42% |
| Administrative expenses per participant | $138 | $306 | $427 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 25,000 or more participants (215 plans), health care and social assistance (542) and all US plans (5,308). 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 | 96,507 | $11.6B | $120,057 | $188M | $87K | $3.6M |
| 2023 | 92,406 | $10.3B | $111,744 | $105M | $91K | $3.5M |
| 2022 | 92,816 | $9.08B | $97,778 | $105M | $97K | $3.3M |
| 2021 | 88,299 | $8.57B | $97,063 | $302M | $102K | $3.9M |
| 2020 | 85,430 | $10.2B | $118,964 | $0 | $110K | $4.6M |
| 2019 | 81,242 | $8.20B | $100,905 | $438M | $117K | $5.3M |
| 2018 | 76,709 | $7.22B | $94,171 | $453M | $129K | $6.4M |
| 2017 | 76,180 | $6.75B | $88,625 | $150M | — | $3.0M |
| 2016 | 45,512 | $4.30B | $94,457 | $186M | — | $1.8M |
| 2015 | 36,610 | $3.70B | $100,976 | $401M | — | $1.1M |
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$10,325,856,564
- Employer contributions$187,800,168
- Participant contributions$87,137
- Rollovers and other contributions—
- Total contributions$187,887,305
- Total income, including investment results$1,713,436,743
- Benefits paid$439,699,189
- Administrative expenses$13,300,946
- Total expenses$453,000,135
- Net income$1,260,436,608
- Net transfers$0
- Net assets, end of year$11,586,293,172
Participants
- Active participants62,951
- Retired or separated, receiving benefits10,494
- Retired or separated, entitled to future benefits21,974
- Total participants, end of year96,507
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Alight Solutions LLC | Recordkeeping and information management; Participant communication | $2,620,380 | $0 |
| State Street Corporation | Trustee (bank, trust company, or similar financial institution) | $421,753 | $0 |
| Willis Towers Watson LLC | Actuarial | $376,666 | $0 |
| Conduent | Recordkeeping and information management | $107,939 | $0 |
| Morgan Lewis and Bochius LLP | Legal | $45,521 | $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$9,833,687
- Recordkeeping fees$2,623,319
- Trustee and custodial fees$421,753
- Actuarial fees$376,666
- Legal fees$45,521
- Total administrative expenses$13,300,946
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.
- Master trust investment accounts$11.6B · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmWolf & Company, 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
1CCash balance or similar plan1ABenefits are primarily pay related3HPlan 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 Mass General Brigham Incorporated
| Plan | Participants | Net assets |
|---|---|---|
| Consolidated 403(b) Program of Mass General Brigham and Member Organizations | 136,132 | $16.7B |
| 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 |
|---|---|---|---|---|
| Children's Hospital Corporation Pension Plan | The Children's Hospital Corporation | 18,514 | $1.08B | $58,260 |
| Umass Memorial Health Care Pension Plan | Umass Memorial Health Care, Inc. | 14,897 | $1.29B | $86,379 |
| Beth Israel Lahey Health Defined Benefit Plan I | Beth Israel Lahey Health, Inc. | 13,755 | $703M | $51,094 |
| Fresenius Medical Care North America Retirement Plan | National Medical Care, Inc. | 13,431 | $326M | $24,264 |
| Beth Israel Lahey Health Defined Benefit Plan II | Beth Israel Lahey Health, Inc. | 5,765 | $546M | $94,683 |
| Sturdy Memorial Hospital Inc. Retirement Plan | Sturdy Memorial Hospital Inc. | 2,962 | $409M | $138,219 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Consolidated Cash Balance Program of Mass General Brigham and Member Organizations?
96,507 participants at the end of the plan year ending 30 Sep 2025, of whom 62,951 were active employees, with net assets of $11,586,293,172. Among defined benefit plans that places it in the 25,000 or more participants band, which held 215 plans in plan year 2024.
What does Mass General Brigham Incorporated contribute per participant?
The filing reports $187,800,168 in employer contributions for the year, which is $2,983 per active participant; the median for plans of the same type and size was $6,524 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 $3,572,259 in compensation to service provider organisations, $37.02 per participant or 0.03% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $13,300,946. 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: Alight Solutions LLC and Conduent. Trustee or custodian: State Street Corporation. 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. 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 499, 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.