New York › Health care and social assistance › 500 to 999 participants
Form 5500 statement · plan year 1 Apr 2024 to 31 Mar 2025
Bradford Hospital Retirement Plan
Sponsored by Olean General Hospital, Olean, 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 Mar 2025, Bradford Hospital Retirement Plan covered 695 participants and held $24.8M in net assets. The plan is a defined benefit pension plan sponsored by Olean General Hospital of Olean, New York.
Net assets came to $35,662 per participant, well below the $86,583 median for defined benefit plans with 500 to 999 participants and well below 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 $660K for the year ($6,223 per active participant) and benefits paid were $1.7M. 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 7 service provider organisations paid $5,000 or more, with reported compensation of $177K: $255 per participant, well below the same-size median of $377. Administrative expenses charged to the plan were $352K. 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 $20.6M in 2017 to $24.8M in 2024 (up 20%), and participants from 785 to 695 (down 11%).
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 | $35,662 | $86,583 | $62,049 | $86,221 |
| Employer contributions per active participant | $6,223 | $10,758 | $7,491 | $10,244 |
| Schedule C compensation per participant | $255 | $377 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.71% | 0.48% | 0.39% | 0.42% |
| Administrative expenses per participant | $507 | $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 | 695 | $24.8M | $35,662 | $660K | — | $177K |
| 2023 | 710 | $24.5M | $34,541 | $454K | — | $158K |
| 2022 | 721 | $23.4M | $32,422 | $775K | — | $195K |
| 2021 | 735 | $26.1M | $35,565 | $1.2M | — | $151K |
| 2020 | 750 | $25.4M | $33,855 | $1.5M | — | $176K |
| 2019 | 760 | $19.3M | $25,345 | $1.5M | — | $81K |
| 2018 | 771 | $20.5M | $26,538 | $662K | — | $82K |
| 2017 | 785 | $20.6M | $26,282 | $1.0M | — | $159K |
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$24,524,434
- Employer contributions$659,622
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$659,622
- Total income, including investment results$2,292,809
- Benefits paid$1,679,988
- Administrative expenses$352,408
- Total expenses$2,032,396
- Net income$260,413
- Net transfers$0
- Net assets, end of year$24,784,847
Participants
- Active participants106
- Retired or separated, receiving benefits320
- Retired or separated, entitled to future benefits244
- Total participants, end of year695
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Boomershine Consulting Group, LLC | Actuarial | $97,660 | $0 |
| Prime Buckholz & Associates | Investment advisory (plan) | $41,326 | $0 |
| Fifth Third Bank | Trustee (bank, trust company, or similar financial institution) | $32,561 | $0 |
| State Street Global Advisors | Custodial (other than securities); Custodial (securities) | $5,515 | $0 |
| T. Rowe Price Associates, Inc. | Investment management fees paid indirectly by plan | $0 | $0 |
| Parnassus Investments | Investment management fees paid indirectly by plan | $0 | $0 |
| Harbor Capital Advisors, Inc. | Investment management fees paid indirectly by plan | $0 | $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$175,346
- Actuarial fees$97,660
- Investment advisory and management fees$46,841
- Trustee and custodial fees$32,561
- Total administrative expenses$352,408
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)$16.8M · 67.6%
- Partnership/joint venture interests$4.3M · 17.4%
- Common/collective trusts$2.7M · 10.7%
- Cash (interest and non-interest bearing)$722K · 2.9%
- Other investments$336K · 1.4%
- Receivables$2,300 · 0.0%
- Corporate stocks$73 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmLumsden and McCormick
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,500,000
- 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 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 Olean General Hospital
| Plan | Participants | Net assets |
|---|---|---|
| Olean General Hospital Savings Incentive Plan | 2,645 | $81.5M |
| Pension Program for Employees of Olean General Hospital | 809 | $20.0M |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Retirement Plan for Employees of Claxton-Hepburn Medical Center | Claxton-Hepburn Medical Center | 701 | $37.0M | $52,805 |
| Defined Benefit Pension Plan of Nyack Hospital | Montefiore Nyack Hospital | 668 | $24.5M | $36,668 |
| Syracuse Orthopedic Specialists, P.C. Defined Benefit Pension Plan | Syracuse Orthopedic Specialists, P.C. | 717 | $23.9M | $33,323 |
| Hillside Family of Agencies Pension Plan | Hillside Children's Center | 643 | $24.1M | $37,488 |
| Retirement Plan for Registered Practical Nurses of Samaritan Medical Centers & Samaritan Keep Nursing Home, Inc. | Samaritan Medical Center | 723 | $72.9M | $100,844 |
| The Oswego Hospital Retirement Plan | Oswego Hospital, Inc. | 638 | $37.3M | $58,520 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Bradford Hospital Retirement Plan?
695 participants at the end of the plan year ending 31 Mar 2025, of whom 106 were active employees, with net assets of $24,784,847. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does Olean General Hospital contribute per participant?
The filing reports $659,622 in employer contributions for the year, which is $6,223 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 $177,062 in compensation to service provider organisations, $255 per participant or 0.71% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $352,408. 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 Olean General Hospital. Investment advisory or management: Prime Buckholz & Associates. Trustee or custodian: Fifth Third Bank and State Street Global Advisors. The financial statements were audited by Lumsden and McCormick. 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 Apr 2024 to 31 Mar 2025, received by the Department of Labor on 30 Jun 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 16-0743102, plan 003, received 30 Jun 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.