Ohio › Health care and social assistance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Summa Health Retirement Income Plan and Trust
Sponsored by Summa Health, Akron, OH
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, Summa Health Retirement Income Plan and Trust covered 5,603 participants and held $183M in net assets. The plan is a defined benefit pension plan sponsored by Summa Health of Akron, Ohio.
Net assets came to $32,694 per participant, well below the $87,623 median for defined benefit plans with 5,000 to 24,999 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 $0 for the year ($0 per active participant) and benefits paid were $16.6M. 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 5 service provider organisations paid $5,000 or more, with reported compensation of $530K: $94.53 per participant, well below the same-size median of $232. Administrative expenses charged to the plan were $587K. 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 $197M in 2013 to $183M in 2024 (down 7%), and participants from 9,167 to 5,603 (down 39%).
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 | $32,694 | $87,623 | $62,049 | $86,221 |
| Employer contributions per active participant | $0 | $9,468 | $7,491 | $10,244 |
| Schedule C compensation per participant | $94.53 | $232 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.29% | 0.30% | 0.39% | 0.42% |
| Administrative expenses per participant | $105 | $396 | $427 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 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 | 5,603 | $183M | $32,694 | $0 | $2.4M | $530K |
| 2023 | 5,869 | $193M | $32,910 | — | $66K | $438K |
| 2022 | 6,004 | $188M | $31,382 | — | $74K | $402K |
| 2021 | 6,127 | $243M | $39,600 | $0 | $148K | $463K |
| 2020 | 6,230 | $232M | $37,225 | — | $1,000 | $417K |
| 2019 | 6,428 | $222M | $34,597 | — | $1,000 | $422K |
| 2018 | 6,575 | $200M | $30,436 | $0 | $1,000 | $374K |
| 2017 | 6,684 | $222M | $33,226 | $0 | $3,000 | $419K |
| 2016 | 7,244 | $216M | $29,808 | $10.1M | $5,000 | $372K |
| 2015 | 8,092 | $208M | $25,684 | $20.0M | $6,000 | $378K |
| 2014 | 8,908 | $203M | $22,828 | — | $6,000 | $353K |
| 2013 | 9,167 | $197M | $21,456 | $10.0M | $17K | $279K |
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$193,146,629
- Employer contributions$0
- Participant contributions$2,378,899
- Rollovers and other contributions$309,775
- Total contributions$2,688,674
- Total income, including investment results$7,220,240
- Benefits paid$16,592,442
- Administrative expenses$587,430
- Total expenses$17,179,872
- Net income−$9,959,632
- Net transfers$0
- Net assets, end of year$183,186,997
Participants
- Active participants1,313
- Retired or separated, receiving benefits2,954
- Retired or separated, entitled to future benefits1,142
- Total participants, end of year5,603
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Robert W. Baird and Company | Trustee (bank, trust company, or similar financial institution) | $337,983 | $0 |
| Northern Trust Company | Trustee (bank, trust company, or similar financial institution) | $135,917 | $0 |
| Aetna Life Insurance Company | Claims processing | $35,057 | $0 |
| Equitable | Claims processing; Recordkeeping and information management | $13,581 | $0 |
| BlackRock | Trustee (bank, trust company, or similar financial institution) | $7,104 | $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$337,983
- Trustee and custodial fees$143,021
- Other administrative expenses$106,426
- Total administrative expenses$587,430
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.
- Corporate debt instruments$115M · 62.7%
- Common/collective trusts$41.8M · 22.7%
- Receivables$8.0M · 4.4%
- Insurance company general account$6.4M · 3.5%
- Partnership/joint venture interests$5.6M · 3.1%
- U.S. Government securities$4.0M · 2.2%
- Registered investment companies (mutual funds)$2.9M · 1.6%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmBDO USA, P.C.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- 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
1BBenefits are primarily flat dollar (includes dollars per year of service)
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 622000: Hospitals.
Other plans of Summa Health
| Plan | Participants | Net assets |
|---|---|---|
| Summa Health 403(b) Retirement Savings Plan | 8,038 | $855M |
Similar plans in Ohio
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| The Ohiohealth Cash Balance Retirement Plan | Ohiohealth Corporation | 14,079 | $743M | $52,744 |
| The Christ Hospital Pension Plan | The Christ Hospital | 5,270 | $281M | $53,253 |
| Premier Health Partners Employees Retirement Plan | Premier Health Partners | 14,944 | $411M | $27,490 |
| Uc Health Retirement Plan | Uc Health, LLC | 4,739 | $240M | $50,562 |
| Children's Hospital Medical Center Retirement Plan | Children's Hospital Medical Center | 23,634 | $1.21B | $51,134 |
| Southern Ohio Medical Center Cash Balance Pension Plan | Southern Ohio Medical Center | 3,472 | $74.7M | $21,516 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Summa Health Retirement Income Plan and Trust?
5,603 participants at the end of the plan year ending 31 Dec 2024, of whom 1,313 were active employees, with net assets of $183,186,997. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does Summa Health contribute per participant?
The filing reports $0 in employer contributions for the year, which is $0 per active participant; the median for plans of the same type and size was $9,468 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 $529,642 in compensation to service provider organisations, $94.53 per participant or 0.29% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $587,430. 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 Summa Health. Recordkeeping or administration: Equitable. Trustee or custodian: Robert W. Baird and Company, Northern Trust Company and BlackRock. The financial statements were audited by BDO USA, P.C.. 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 14 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 34-1887844, plan 010, received 14 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.