Florida › Health care and social assistance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Shands Healthcare Pension Plan II
Sponsored by Shands Teaching Hospital and Clinics, Inc., Gainesville, FL
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.
Shands Teaching Hospital and Clinics, Inc. of Gainesville, Florida sponsors Shands Healthcare Pension Plan II, a cash balance pension plan. Its Form 5500 for the plan year ending 30 Jun 2025 shows 7,075 participants (2,133 active) and $936M in net assets.
Net assets came to $132,360 per participant, well above the $87,623 median for defined benefit plans with 5,000 to 24,999 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.
Employer contributions were $18.7M for the year ($8,750 per active participant) and benefits paid were $62.7M. 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 11 service provider organisations paid $5,000 or more, with reported compensation of $2.8M: $396 per participant, well above the same-size median of $232. Administrative expenses charged to the plan were $6.9M. 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 $979M in 2018 to $936M in 2024 (down 4%), and participants from 8,286 to 7,075 (down 15%).
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 | $132,360 | $87,623 | $62,049 | $86,221 |
| Employer contributions per active participant | $8,750 | $9,468 | $7,491 | $10,244 |
| Schedule C compensation per participant | $396 | $232 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.30% | 0.30% | 0.39% | 0.42% |
| Administrative expenses per participant | $969 | $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 | 7,075 | $936M | $132,360 | $18.7M | — | $2.8M |
| 2023 | 7,233 | $907M | $125,443 | $8.7M | — | $2.7M |
| 2022 | 7,487 | $914M | $122,137 | $16.2M | — | $2.6M |
| 2021 | 7,686 | $917M | $119,298 | $16.1M | — | $3.0M |
| 2020 | 7,849 | $1.19B | $151,564 | $16.8M | — | $3.0M |
| 2019 | 8,046 | $995M | $123,667 | $12.3M | — | $3.1M |
| 2018 | 8,286 | $979M | $118,171 | $26.2M | — | $2.6M |
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$907,329,320
- Employer contributions$18,664,252
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$18,664,252
- Total income, including investment results$98,716,460
- Benefits paid$62,748,320
- Administrative expenses$6,853,291
- Total expenses$69,601,611
- Net income$29,114,849
- Net transfers$0
- Net assets, end of year$936,444,169
Participants
- Active participants2,133
- Retired or separated, receiving benefits3,310
- Retired or separated, entitled to future benefits1,348
- Total participants, end of year7,075
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Pimco LLC | Investment management | $712,480 | $0 |
| Nottingham | Trustee (bank, trust company, or similar financial institution) | $531,247 | $0 |
| TCW Asset Management Company | Investment management fees paid directly by plan | $504,698 | $0 |
| The Bank of New York Mellon | Trustee (bank, trust company, or similar financial institution) | $343,799 | $0 |
| Baillie Gifford Overseas Ltd. | Securities brokerage | $342,362 | $0 |
| Lincoln National Corporation | Direct payment from the plan; Recordkeeping fees | $126,988 | $0 |
| Emerald Advisers,llc | Investment management | $94,243 | $0 |
| Mercer | Actuarial; Consulting (pension) | $72,411 | $0 |
| Mercer Investments LLC | Investment advisory (plan) | $24,755 | $0 |
| JP Morgan Investment Management Inc. | Insurance agents and brokers; Investment advisory (plan); Investment management | $24,069 | $0 |
| James Moore & Co. | Accounting (including auditing) | $21,450 | $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$4,038,409
- Investment advisory and management fees$1,718,402
- Trustee and custodial fees$875,046
- Contract administrator fees$126,988
- Actuarial fees$72,411
- IQPA audit fees$21,450
- Legal fees$585
- Total administrative expenses$6,853,291
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$339M · 35.4%
- Corporate debt instruments$226M · 23.6%
- U.S. Government securities$146M · 15.3%
- Registered investment companies (mutual funds)$115M · 12.0%
- Corporate stocks$84.8M · 8.9%
- Other investments$22.3M · 2.3%
- Cash (interest and non-interest bearing)$12.1M · 1.3%
- Receivables$6.5M · 0.7%
- Partnership/joint venture interests$6.1M · 0.6%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmJames Moore & Company P.L.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $15,000,000
- 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 related1CCash balance or similar plan1IFrozen 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 Shands Teaching Hospital and Clinics, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Shands Healthcare Matched Savings Account 403(b) | 15,926 | $625M |
| Shands Health Care Matched Savings Account 401(a) | 15,494 | $487M |
Similar plans in Florida
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Shriners Hospitals for Children Employees' Retirement Plan | Shriners Children's | 4,567 | $675M | $147,757 |
| Baptist Health System Retirement Plan | Baptist Health System, Inc. | 3,901 | $531M | $136,206 |
| The Nemours Foundation Pension Plan | The Nemours Foundation | 3,187 | $632M | $198,370 |
| Baptist Health Care, Inc. Pension Plan | Baptist Health Care, Inc. | 2,843 | $81.9M | $28,795 |
| Pension Plan of Tallahassee Memorial Healthcare, Inc. | Tallahassee Memorial Healthcare, Inc. | 2,119 | $250M | $117,816 |
| University Community Health System Consolidated Pension Plan | University Community Health System | 1,834 | $92.5M | $50,421 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Shands Healthcare Pension Plan II?
7,075 participants at the end of the plan year ending 30 Jun 2025, of whom 2,133 were active employees, with net assets of $936,444,169. 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 Shands Teaching Hospital and Clinics, Inc. contribute per participant?
The filing reports $18,664,252 in employer contributions for the year, which is $8,750 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 $2,798,502 in compensation to service provider organisations, $396 per participant or 0.30% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $6,853,291. 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 Shands Teaching Hospital and Clinics, Inc.. Recordkeeping or administration: Lincoln National Corporation. Investment advisory or management: Pimco LLC, Emerald Advisers,llc and Mercer Investments LLC. Trustee or custodian: Nottingham and The Bank of New York Mellon. The financial statements were audited by James Moore & Company P.L.. 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 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 15 Apr 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 59-1943502, plan 004, received 15 Apr 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.