New York › Health care and social assistance › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Northwell Health Pension Plan
Sponsored by Northwell Health, Inc., Westbury, NY
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 31 Dec 2024, Northwell Health Pension Plan covered 42,096 participants and held $2.74B in net assets. The plan is a cash balance pension plan sponsored by Northwell Health, Inc. of Westbury, New York.
Net assets came to $65,187 per participant, well below the $88,040 median for defined benefit plans with 25,000 or more 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.
Schedule C lists 15 service provider organisations paid $5,000 or more, with reported compensation of $9.2M: $219 per participant, well above the same-size median of $143. Administrative expenses charged to the plan were $14.3M. 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 $2.50B in 2022 to $2.74B in 2024 (up 10%), and participants from 44,319 to 42,096 (down 5%).
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 | $65,187 | $88,040 | $62,049 | $86,221 |
| Employer contributions per active participant | — | $6,524 | $7,491 | $10,244 |
| Schedule C compensation per participant | $219 | $143 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.34% | 0.26% | 0.39% | 0.42% |
| Administrative expenses per participant | $340 | $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 | 42,096 | $2.74B | $65,187 | — | — | $9.2M |
| 2023 | 43,737 | $2.72B | $62,103 | — | — | $8.4M |
| 2022 | 44,319 | $2.50B | $56,497 | — | — | $1.7M |
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$2,716,197,629
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$215,735,517
- Benefits paid$173,490,924
- Administrative expenses$14,319,271
- Total expenses$187,810,195
- Net income$27,925,322
- Net transfers$0
- Net assets, end of year$2,744,122,951
Participants
- Active participants26,078
- Retired or separated, receiving benefits5,881
- Retired or separated, entitled to future benefits9,738
- Total participants, end of year42,096
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Blackstone | Investment management | $1,805,502 | $0 |
| Towers Watson | Actuarial | $1,005,244 | $0 |
| Northern Trust Company | Trustee (bank, trust company, or similar financial institution) | $751,400 | $0 |
| Eagle Capital Management, LLC | Investment management | $696,414 | $0 |
| Edgewood Management LLC | Investment advisory (plan) | $596,442 | $0 |
| Buck Global LLC | Actuarial | $509,248 | $0 |
| Morgan Stanley Investment Mgmt. Inc. | Investment management | $509,039 | $0 |
| MFS Institutional Advisors | Investment management | $371,090 | $0 |
| Nisa Investment Advisors | Investment management | $313,457 | $0 |
| Mercer Investment Management | Investment management | $310,605 | $0 |
| Loomis Sayles Trust Company LLC | Investment management | $285,774 | $0 |
| Burgundy Asset Management | Investment management fees paid directly by plan | $223,150 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 3 smaller rows are not shown. 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$6,928,043
- Other trustee fees and expenses$4,409,562
- Actuarial fees$1,771,083
- Recordkeeping fees$751,400
- Legal fees$390,233
- IQPA audit fees$68,950
- Total administrative expenses$14,319,271
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.
- Other investments$1.12B · 39.6%
- Registered investment companies (mutual funds)$620M · 21.8%
- U.S. Government securities$409M · 14.4%
- Corporate stocks$328M · 11.5%
- Corporate debt instruments$153M · 5.4%
- Receivables$71.3M · 2.5%
- Cash (interest and non-interest bearing)$71.0M · 2.5%
- Common/collective trusts$62.6M · 2.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmErnst & Young, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $15,000,000
- 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
1ABenefits are primarily pay related1CCash balance or similar 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 Northwell Health, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Northwell Health 403(b) Plan | 65,962 | $10.9B |
| Northwell Health 401(k) Plan | 43,550 | $1.85B |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| 1199SEIU Home Care Employees Pension Fund | Board of Trustees of the 1199SEIU Home Care Employees Pension Fund | 98,110 | $567M | $5,779 |
| Newyork-Presbyterian Pension Plan | The New York and Presbyterian Hospital | 38,699 | $2.50B | $64,523 |
| 1199SEIU Health Care Employees Pension Fund | Board of Trustees of 1199SEIU Health Care Employees Pension Fund | 296,800 | $16.1B | $54,361 |
| Rochester General Health System Employee Retirement Plan | Rochester General Health System | 15,575 | $714M | $45,846 |
| Nurses and Local 813 Ibt Retirement Plan | Board of Trustees of Nurses and Local 813 Ibt Retirement Plan | 13,994 | $613M | $43,787 |
| Retirement Plan for Employees of Uja-Federation | United Jewish Appeal-Federation of Jewish Philanthropies of NY | 13,750 | $577M | $41,938 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Northwell Health Pension Plan?
42,096 participants at the end of the plan year ending 31 Dec 2024, of whom 26,078 were active employees, with net assets of $2,744,122,951. 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 Northwell Health, Inc. contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $9,219,380 in compensation to service provider organisations, $219 per participant or 0.34% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $14,319,271. 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 Northwell Health, Inc.. Investment advisory or management: Blackstone, Eagle Capital Management, LLC and Edgewood Management LLC. Trustee or custodian: Northern Trust Company. The financial statements were audited by Ernst & Young, 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 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 11-3418133, plan 006, 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.