Georgia › Health care and social assistance › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Retirement Plan for Employees of Phoebe Putney Health System, Inc.
Sponsored by Phoebe Putney Health System, Inc., Albany, GA
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, Retirement Plan for Employees of Phoebe Putney Health System, Inc. covered 2,343 participants and held $244M in net assets. The plan is a defined benefit pension plan sponsored by Phoebe Putney Health System, Inc. of Albany, Georgia.
Net assets came to $104,315 per participant, above the $87,935 median for defined benefit plans with 1,000 to 4,999 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.
Schedule C lists 8 service provider organisations paid $5,000 or more, with reported compensation of $616K: $263 per participant, below the same-size median of $325. Administrative expenses charged to the plan were $608K. 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 $116M in 2009 to $244M in 2024 (up 110%), and participants from 4,258 to 2,343 (down 45%).
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 | $104,315 | $87,935 | $62,049 | $86,221 |
| Employer contributions per active participant | — | $10,593 | $7,491 | $10,244 |
| Schedule C compensation per participant | $263 | $325 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.25% | 0.41% | 0.39% | 0.42% |
| Administrative expenses per participant | $259 | $513 | $427 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 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 | 2,343 | $244M | $104,315 | — | — | $616K |
| 2023 | 2,463 | $248M | $100,522 | $19.7M | — | $722K |
| 2022 | 2,606 | $220M | $84,405 | — | — | $686K |
| 2021 | 2,680 | $274M | $102,243 | $2.2M | — | $763K |
| 2020 | 2,748 | $249M | $90,688 | $6.2M | — | $762K |
| 2019 | 2,780 | $225M | $80,950 | $9.5M | — | $806K |
| 2018 | 2,797 | $190M | $68,084 | $6.5M | — | $770K |
| 2017 | 2,823 | $207M | $73,169 | $8.3M | — | $911K |
| 2016 | 3,061 | $184M | $60,238 | $2.5M | — | $1.3M |
| 2015 | 3,335 | $196M | $58,625 | $16.1M | — | $808K |
| 2014 | 3,394 | $192M | $56,532 | $14.8M | — | $1.3M |
| 2013 | 3,669 | $182M | $49,645 | $6.0M | — | $1.3M |
| 2012 | 3,775 | $159M | $42,011 | $18.0M | — | $1.3M |
| 2011 | 4,339 | $141M | $32,478 | $12.0M | — | $500K |
| 2010 | 4,287 | $138M | $32,223 | $11.0M | — | $820K |
| 2009 | 4,258 | $116M | $27,319 | $1.0M | — | $726K |
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$247,584,530
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions—
- Total income, including investment results$10,236,377
- Benefits paid$12,803,431
- Administrative expenses$607,943
- Total expenses$13,411,374
- Net income−$3,174,997
- Net transfers$0
- Net assets, end of year$244,409,533
Participants
- Active participants714
- Retired or separated, receiving benefits970
- Retired or separated, entitled to future benefits592
- Total participants, end of year2,343
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Transamerica Retirement Solutions | Actuarial; Claims processing; Recordkeeping and information management; Investment management; Participant communication | $160,570 | $0 |
| Aon Consulting | Actuarial; Consulting (pension) | $150,187 | $0 |
| Arrowstreet | Investment management | $101,332 | $0 |
| Silchester International | Investment management | $78,352 | $0 |
| State Street | Custodial (other than securities); Custodial (securities) | $67,955 | $0 |
| State Street Global Advisors | Investment management | $37,120 | $0 |
| Axiom International | Investment management | $13,756 | $0 |
| BlackRock | Investment management | $6,811 | $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$379,418
- Recordkeeping fees$160,570
- Trustee and custodial fees$67,955
- Total administrative expenses$607,943
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)$181M · 73.6%
- U.S. Government securities$42.7M · 17.4%
- Common/collective trusts$19.8M · 8.1%
- Cash (interest and non-interest bearing)$1.9M · 0.8%
- Receivables$484K · 0.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmDraffin and Tucker LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $5,000,000
- 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 plan3FPlan sponsor(s) received services of leased employees3HPlan 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.
Similar plans in Georgia
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| The Retirement Plan of Central Georgia Health Systems, Inc. | Navicent Health, Inc. | 3,255 | $276M | $84,728 |
| Northeast Georgia Health System, Inc. and Affiliated Companies Pension Plan | Northeast Georgia Health System, Inc. | 1,855 | $315M | $169,694 |
| Gwinnett Hospital System, Inc. Retirement Plan | Northside Hospital, Inc. | 3,907 | $215M | $55,080 |
| Houston Hospitals, Inc. Retirement Plan | Houston Hospitals, Inc. | 1,721 | $94.9M | $55,136 |
| Emory Healthcare, Inc. Retirement Plan | Emory Healthcare, Inc. | 6,637 | $261M | $39,306 |
| Floyd Healthcare Management, Inc. Retirement Plan | Floyd Healthcare Management, Inc. | 1,169 | $70.4M | $60,228 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Retirement Plan for Employees of Phoebe Putney Health System, Inc.?
2,343 participants at the end of the plan year ending 31 Dec 2024, of whom 714 were active employees, with net assets of $244,409,533. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Phoebe Putney Health System, 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 $616,083 in compensation to service provider organisations, $263 per participant or 0.25% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $607,943. 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 Phoebe Putney Health System, Inc.. Recordkeeping or administration: Transamerica Retirement Solutions. Investment advisory or management: Transamerica Retirement Solutions, Arrowstreet and Silchester International. Trustee or custodian: State Street. The financial statements were audited by Draffin and Tucker 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 58-2001014, plan 001, 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.