Massachusetts › Health care and social assistance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
Umass Memorial Health Care Pension Plan
Sponsored by Umass Memorial Health Care, Inc., Worcester, 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.
In the plan year ending 30 Sep 2025, Umass Memorial Health Care Pension Plan covered 14,897 participants and held $1.29B in net assets. The plan is a defined benefit pension plan sponsored by Umass Memorial Health Care, Inc. of Worcester, Massachusetts.
Net assets came to $86,379 per participant, close to the $87,623 median for defined benefit plans with 5,000 to 24,999 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 $43.2M for the year ($4,126 per active participant) and benefits paid were $66.2M. 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 12 service provider organisations paid $5,000 or more, with reported compensation of $3.5M: $233 per participant, close to the same-size median of $232. Administrative expenses charged to the plan were $7.0M. 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 $1.17B in 2020 to $1.29B in 2024 (up 10%), and participants from 12,032 to 14,897 (up 24%).
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 DB plans |
|---|---|---|---|---|
| Net assets per participant | $86,379 | $87,623 | $62,049 | $86,221 |
| Employer contributions per active participant | $4,126 | $9,468 | $7,491 | $10,244 |
| Schedule C compensation per participant | $233 | $232 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.27% | 0.30% | 0.39% | 0.42% |
| Administrative expenses per participant | $469 | $396 | $427 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 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 | 14,897 | $1.29B | $86,379 | $43.2M | $0 | $3.5M |
| 2023 | 13,636 | $1.23B | $90,083 | $120M | — | $3.8M |
| 2022 | 12,909 | $990M | $76,681 | $41.0M | — | $3.4M |
| 2021 | 12,485 | $930M | $74,454 | $59.2M | $0 | $3.5M |
| 2020 | 12,032 | $1.17B | $97,341 | $64.0M | $0 | $3.7M |
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$1,228,375,963
- Employer contributions$43,200,000
- Participant contributions$0
- Rollovers and other contributions$0
- Total contributions$43,200,000
- Total income, including investment results$131,589,055
- Benefits paid$66,191,562
- Administrative expenses$6,980,826
- Total expenses$73,172,388
- Net income$58,416,667
- Net transfers$0
- Net assets, end of year$1,286,792,630
Participants
- Active participants10,470
- Retired or separated, receiving benefits1,623
- Retired or separated, entitled to future benefits2,678
- Total participants, end of year14,897
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Willis Towers Watson US LLC | Actuarial; Plan Administrator; Consulting (pension) | $1,335,808 | $0 |
| Cambridge Associates LLC | Investment management | $600,000 | $0 |
| Boston Partners | Investment management | $316,053 | $0 |
| Silchester International Investors | Investment management | $290,728 | $0 |
| Acadian Asset Management | Investment management | $218,090 | $0 |
| The Bank of New York Mellon | Custodial (securities); Trustee (bank, trust company, or similar financial institution) | $215,386 | $0 |
| Pacific Investment Management | Investment management | $145,909 | $0 |
| Income Research & Management | Investment management | $133,472 | $0 |
| Walter Scott & Partners Limited | Investment management | $86,086 | $0 |
| Mellon Capital Management | Trustee (bank, trust company, or similar financial institution) | $59,648 | $0 |
| Marathon-London International Inves | Investment management | $33,591 | $0 |
| State Street Global Advisors | Investment management | $32,240 | $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$3,335,973
- Investment advisory and management fees$2,131,203
- Recordkeeping fees$955,121
- Actuarial fees$342,273
- Trustee and custodial fees$216,256
- Total administrative expenses$6,980,826
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.
- Partnership/joint venture interests$455M · 35.2%
- Common/collective trusts$437M · 33.9%
- Registered investment companies (mutual funds)$146M · 11.3%
- 103-12 investment entities$122M · 9.5%
- Receivables$49.2M · 3.8%
- Corporate stocks$44.7M · 3.5%
- Corporate debt instruments$32.6M · 2.5%
- U.S. Government securities$3.1M · 0.2%
- Other investments$1.2M · 0.1%
- Cash (interest and non-interest bearing)$360K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmCohnreznick LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- Blackout period during the year—
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
1ABenefits 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 Umass Memorial Health Care, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Umass Memorial Health Care 401(k) Plan | 17,359 | $1.43B |
| Umass Memorial Health Care 403(b) Plan | 6,603 | $650M |
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 |
| Beth Israel Lahey Health Defined Benefit Plan I | Beth Israel Lahey Health, Inc. | 13,755 | $703M | $51,094 |
| Consolidated Cash Balance Program of Mass General Brigham and Member Organizations | Mass General Brigham Incorporated | 96,507 | $11.6B | $120,057 |
| 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 Umass Memorial Health Care Pension Plan?
14,897 participants at the end of the plan year ending 30 Sep 2025, of whom 10,470 were active employees, with net assets of $1,286,792,630. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does Umass Memorial Health Care, Inc. contribute per participant?
The filing reports $43,200,000 in employer contributions for the year, which is $4,126 per active participant; the median for plans of the same type and size was $9,468 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 $3,467,011 in compensation to service provider organisations, $233 per participant or 0.27% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $6,980,826. 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 Umass Memorial Health Care, Inc.. Recordkeeping or administration: Willis Towers Watson US LLC. Investment advisory or management: Cambridge Associates LLC, Boston Partners and Silchester International Investors. Trustee or custodian: The Bank of New York Mellon and Mellon Capital Management. The financial statements were audited by Cohnreznick LLP. 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 15 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 04-3358566, plan 005, received 15 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.