California › Health care and social assistance › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Sharp Rees-Stealy Medical Group, Inc. Cash Balance Pension Plan
Sponsored by Sharp Rees-Stealy Medical Group, Inc., San Diego, CA
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.
Sharp Rees-Stealy Medical Group, Inc. of San Diego, California sponsors Sharp Rees-Stealy Medical Group, Inc. Cash Balance Pension Plan, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 300 participants (254 active) and $55.4M in net assets.
Net assets came to $184,565 per participant, well above the $87,254 median for defined benefit plans with 250 to 499 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 $6.8M for the year ($26,710 per active participant) and benefits paid were $3.1M. 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 3 service provider organisations paid $5,000 or more, with reported compensation of $170K: $567 per participant, well above the same-size median of $413. Administrative expenses charged to the plan were $200K. 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 $3.0M in 2015 to $55.4M in 2024 (up 1759%), and participants from 146 to 300 (up 105%).
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 | $184,565 | $87,254 | $62,049 | $86,221 |
| Employer contributions per active participant | $26,710 | $11,032 | $7,491 | $10,244 |
| Schedule C compensation per participant | $567 | $413 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.31% | 0.51% | 0.39% | 0.42% |
| Administrative expenses per participant | $665 | $596 | $427 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 250 to 499 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 | 300 | $55.4M | $184,563 | $6.8M | — | $170K |
| 2023 | 294 | $49.4M | $168,054 | $7.5M | — | $245K |
| 2022 | 282 | $41.4M | $146,918 | $7.7M | — | $233K |
| 2021 | 269 | $42.7M | $158,784 | $8.0M | — | $242K |
| 2020 | 270 | $32.3M | $119,744 | $6.5M | — | $182K |
| 2019 | 220 | $28.0M | $127,450 | $6.3M | — | $139K |
| 2018 | 197 | $20.3M | $102,954 | $6.6M | — | $132K |
| 2017 | 175 | $14.8M | $84,617 | $5.6M | — | $85K |
| 2016 | 153 | $8.4M | $54,601 | $5.2M | — | $96K |
| 2015 | 146 | $3.0M | $20,404 | $3.0M | — | $0 |
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$49,407,675
- Employer contributions$6,784,455
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$6,784,455
- Total income, including investment results$9,290,972
- Benefits paid$3,129,630
- Administrative expenses$199,574
- Total expenses$3,329,204
- Net income$5,961,768
- Net transfers$0
- Net assets, end of year$55,369,443
Participants
- Active participants254
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits46
- Total participants, end of year300
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Kravitz, LLC | Consulting (pension) | $81,525 | $0 |
| MG Trust Company d/b/a Matrix Trust | Recordkeeping and information management; Trustee (bank, trust company, or similar financial institution) | $61,336 | $0 |
| Matrix Financial Solutions (MFS) | Recordkeeping and information management | $27,322 | $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
- Actuarial fees$81,525
- Investment advisory and management fees$61,336
- Other administrative expenses$29,391
- Trustee and custodial fees$27,322
- Total administrative expenses$199,574
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.
- U.S. Government securities$54.3M · 98.0%
- Receivables$549K · 1.0%
- Cash (interest and non-interest bearing)$546K · 1.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- 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
1BBenefits are primarily flat dollar (includes dollars per year of service)1CCash balance or similar plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 621111: Offices of Physicians (except mental health specialists).
Other plans of Sharp Rees-Stealy Medical Group, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Sharp Rees-Stealy Medical Group, Inc. Retirement Savings Plan | 917 | $246M |
| Sharp Rees-Stealy Medical Group, Inc. Money Purchase Pension Plan | 396 | $307M |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Enloe Medical Center Pension Plan | Enloe Medical Center | 324 | $15.9M | $49,134 |
| Permanente Retirement Plan | The Permanente Federation, LLC | 281 | $59.9M | $213,290 |
| Defined Benefit Plan of Special Service for Groups, Inc. | Special Service for Groups, Inc. | 400 | $29.0M | $72,468 |
| Retirement Plan for Employees of South Coast Medical Center | South Coast Medical Center | 277 | $5.5M | $19,906 |
| Kaiser Permanente Optometrists Retirement Plan | The Permanente Medical Group, Inc. | 446 | $133M | $297,305 |
| Retirement Plan for Children's Hospital & Research Center at Oakland Unrepresented Employees | Children's Hospital & Research Center at Oakland | 262 | $133M | $506,265 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Sharp Rees-Stealy Medical Group, Inc. Cash Balance Pension Plan?
300 participants at the end of the plan year ending 31 Dec 2024, of whom 254 were active employees, with net assets of $55,369,443. Among defined benefit plans that places it in the 250 to 499 participants band, which held 873 plans in plan year 2024.
What does Sharp Rees-Stealy Medical Group, Inc. contribute per participant?
The filing reports $6,784,455 in employer contributions for the year, which is $26,710 per active participant; the median for plans of the same type and size was $11,032 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 $170,183 in compensation to service provider organisations, $567 per participant or 0.31% of net assets. The same-size median among plans reporting any Schedule C compensation was $413 per participant. Administrative expenses on Schedule H were $199,574. 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 Sharp Rees-Stealy Medical Group, Inc.. Recordkeeping or administration: MG Trust Company d/b/a Matrix Trust and Matrix Financial Solutions (MFS). Trustee or custodian: MG Trust Company d/b/a Matrix Trust. 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 33-0106028, plan 005, 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.