Rhode Island › Health care and social assistance › 500 to 999 participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
South County Hospital Retirement Plan
Sponsored by South County Hospital, Inc., Wakefield, RI
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.
South County Hospital Retirement Plan is a defined benefit pension plan sponsored by South County Hospital, Inc. of Wakefield, Rhode Island. For the plan year ending 30 Sep 2025 it reported 819 participants, 107 of them active, and net assets of $54.4M.
Net assets came to $66,413 per participant, well below the $86,583 median for defined benefit plans with 500 to 999 participants and 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 $1.5M for the year ($13,643 per active participant) and benefits paid were $4.4M. 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 4 service provider organisations paid $5,000 or more, with reported compensation of $119K: $146 per participant, well below the same-size median of $377. Administrative expenses charged to the plan were $119K. 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 $42.3M in 2009 to $54.4M in 2024 (up 29%), and participants from 900 to 819 (down 9%).
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 | $66,413 | $86,583 | $62,049 | $86,221 |
| Employer contributions per active participant | $13,643 | $10,758 | $7,491 | $10,244 |
| Schedule C compensation per participant | $146 | $377 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.22% | 0.48% | 0.39% | 0.42% |
| Administrative expenses per participant | $146 | $591 | $427 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 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 | 819 | $54.4M | $66,413 | $1.5M | $0 | $119K |
| 2023 | 823 | $53.7M | $65,296 | $1.7M | $0 | $120K |
| 2022 | 827 | $47.1M | $56,983 | $922K | — | $119K |
| 2021 | 833 | $46.2M | $55,513 | — | — | $133K |
| 2020 | 842 | $62.4M | $74,062 | $0 | $0 | $157K |
| 2019 | 845 | $58.1M | $68,733 | — | — | $127K |
| 2018 | 853 | $57.1M | $66,936 | $0 | $0 | $132K |
| 2017 | 859 | $56.8M | $66,177 | $0 | $0 | $146K |
| 2016 | 867 | $57.6M | $66,487 | $0 | $0 | $101K |
| 2015 | 876 | $55.2M | $63,018 | $0 | $0 | $83K |
| 2014 | 876 | $52.4M | $59,764 | $1.1M | — | $144K |
| 2013 | 883 | $54.2M | $61,409 | $932K | — | $206K |
| 2012 | 894 | $50.6M | $56,550 | $2.4M | — | $138K |
| 2011 | 899 | $45.7M | $50,872 | $1.0M | — | $200K |
| 2010 | 905 | $41.1M | $45,453 | $1.6M | — | $262K |
| 2009 | 900 | $42.3M | $46,968 | $2.7M | — | $236K |
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$53,738,843
- Employer contributions$1,459,799
- Participant contributions$0
- Rollovers and other contributions$0
- Total contributions$1,459,799
- Total income, including investment results$5,207,897
- Benefits paid$4,434,833
- Administrative expenses$119,437
- Total expenses$4,554,270
- Net income$653,627
- Net transfers$0
- Net assets, end of year$54,392,470
Participants
- Active participants107
- Retired or separated, receiving benefits497
- Retired or separated, entitled to future benefits183
- Total participants, end of year819
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| The Silchester Intl Investors | Investment management | $51,991 | $0 |
| Citizens Bank | Custodial (securities) | $44,369 | $0 |
| Income Research + Management | Investment management | $15,675 | $0 |
| Fiduciary Investment Advisors, LLC | Investment advisory (plan) | $7,401 | $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$75,068
- Contract administrator fees$44,369
- Total administrative expenses$119,437
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)$38.6M · 71.0%
- Other investments$14.5M · 26.7%
- Cash (interest and non-interest bearing)$663K · 1.2%
- Receivables$553K · 1.0%
- Corporate debt instruments$750 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmGray,gray & Gray, 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 related1IFrozen plan3HPlan 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 South County Hospital, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| The South County Hospital 403(b) Retirement Plan | 2,110 | $109M |
Similar plans in Rhode Island
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| The Memorial Hospital Defined Benefit Pension Plan and Trust | Care New England | 1,512 | $84.1M | $55,607 |
| St. Joseph Health Services of Rhode Island Retirement Plan | Stephen del Sesto, Receiver | 2,462 | $34.7M | $14,080 |
| Care New England Pension Plan | Care New England | 3,375 | $136M | $40,149 |
| Brown Health Defined Benefit Retirement Plan | Lifespan Corporation d/b/a Brown University Health | 13,259 | $537M | $40,512 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is South County Hospital Retirement Plan?
819 participants at the end of the plan year ending 30 Sep 2025, of whom 107 were active employees, with net assets of $54,392,470. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does South County Hospital, Inc. contribute per participant?
The filing reports $1,459,799 in employer contributions for the year, which is $13,643 per active participant; the median for plans of the same type and size was $10,758 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 $119,436 in compensation to service provider organisations, $146 per participant or 0.22% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $119,437. 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 South County Hospital, Inc.. Investment advisory or management: The Silchester Intl Investors, Income Research + Management and Fiduciary Investment Advisors, LLC. Trustee or custodian: Citizens Bank. The financial statements were audited by Gray,gray & Gray, 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 05-0445136, plan 001, 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.