New York › Health care and social assistance › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Employees' Retirement Plan of Ellis Hospital
Sponsored by Ellis Medicine, Schenectady, 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, Employees' Retirement Plan of Ellis Hospital covered 526 participants and held $34.1M in net assets. The plan is a cash balance pension plan sponsored by Ellis Medicine of Schenectady, New York.
Net assets came to $64,808 per participant, well below the $86,583 median for defined benefit plans with 500 to 999 participants and close to 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 5 service provider organisations paid $5,000 or more, with reported compensation of $626K: $1,190 per participant, well above the same-size median of $377. Administrative expenses charged to the plan were $730K. 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 $50.0M in 2009 to $34.1M in 2024 (down 32%), and participants from 2,996 to 526 (down 82%).
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 | $64,808 | $86,583 | $62,049 | $86,221 |
| Employer contributions per active participant | — | $10,758 | $7,491 | $10,244 |
| Schedule C compensation per participant | $1,190 | $377 | $248 | $344 |
| Schedule C compensation, share of net assets | 1.8% | 0.48% | 0.39% | 0.42% |
| Administrative expenses per participant | $1,388 | $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 | 526 | $34.1M | $64,808 | — | — | $626K |
| 2023 | 1,032 | $53.9M | $52,273 | — | — | $333K |
| 2022 | 1,099 | $56.7M | $51,595 | — | — | $466K |
| 2021 | 1,199 | $84.8M | $70,721 | — | — | $560K |
| 2020 | 1,300 | $95.2M | $73,206 | — | — | $571K |
| 2019 | 1,394 | $91.0M | $65,301 | — | — | $576K |
| 2018 | 1,494 | $84.5M | $56,543 | — | — | $486K |
| 2017 | 1,577 | $96.2M | $61,029 | — | — | $504K |
| 2016 | 1,666 | $90.1M | $54,100 | — | — | $603K |
| 2015 | 1,783 | $92.3M | $51,777 | $0 | — | $645K |
| 2014 | 1,916 | $104M | $54,058 | — | — | $781K |
| 2013 | 2,186 | $106M | $48,308 | $1.8M | — | $603K |
| 2012 | 2,226 | $90.9M | $40,814 | $4.4M | — | $537K |
| 2011 | 2,268 | $81.1M | $35,754 | $3.1M | — | $548K |
| 2010 | 2,306 | $82.2M | $35,640 | $3.7M | — | $666K |
| 2009 | 2,996 | $50.0M | $16,678 | $5.0M | $7.8M | $86K |
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$53,945,704
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$1,247,495
- Benefits paid$20,374,064
- Administrative expenses$730,307
- Total expenses$21,104,371
- Net income−$19,856,876
- Net transfers$0
- Net assets, end of year$34,088,828
Participants
- Active participants197
- Retired or separated, receiving benefits165
- Retired or separated, entitled to future benefits148
- Total participants, end of year526
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Wellington Management Company LLP | Investment management fees paid directly by plan; 'Soft dollars' commissions | $266,339 | $0 |
| OneDigital Investment Advisors LLC | Consulting (pension) | $232,417 | $0 |
| Milliman, Inc. | Actuarial; Consulting (pension) | $69,263 | $0 |
| Principal Bank | Custodial (securities); Trustee (bank, trust company, or similar financial institution) | $33,681 | $0 |
| Fustcharles LLP | Accounting (including auditing) | $24,375 | $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$498,756
- Other administrative expenses$104,232
- Actuarial fees$69,263
- Contract administrator fees$33,681
- IQPA audit fees$24,375
- Total administrative expenses$730,307
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.
- Common/collective trusts$33.3M · 97.5%
- Cash (interest and non-interest bearing)$869K · 2.5%
- Receivables$2,023 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmFustcharles LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- 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 related1CCash balance or similar plan1IFrozen plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 622000: Hospitals.
Other plans of Ellis Medicine
| Plan | Participants | Net assets |
|---|---|---|
| Ellis Hospital Employees Defined Contribution Retirement Plan | 5,183 | $269M |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Oneida Healthcare Center Pension Plan | Oneida Health Systems, Inc. | 545 | $41.6M | $76,389 |
| St. Johnland Retirement Income Plan | St. Johnland Nursing Center and the Society for St. Johnland | 485 | $20.0M | $41,193 |
| Pension Plan for Employees of United Memorial Medical Center | United Memorial Medical Center | 574 | $17.9M | $31,185 |
| Postgraduate Center Employees Retirement Plan | Postgraduate Center for Mental Health | 472 | $19.8M | $42,031 |
| The Oswego Hospital Retirement Plan | Oswego Hospital, Inc. | 638 | $37.3M | $58,520 |
| St. John's Health Care Corporation Pension Plan | St. John's Health Care Corporation | 453 | $19.9M | $43,863 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Employees' Retirement Plan of Ellis Hospital?
526 participants at the end of the plan year ending 31 Dec 2024, of whom 197 were active employees, with net assets of $34,088,828. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does Ellis Medicine 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 $626,075 in compensation to service provider organisations, $1,190 per participant or 1.8% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $730,307. 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 Ellis Medicine. Trustee or custodian: Principal Bank. The financial statements were audited by Fustcharles 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 9 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 14-1338428, plan 001, received 9 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.