Kentucky › Health care and social assistance › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Norton Healthcare, Inc. Retirement Plan
Sponsored by Norton Healthcare, Inc., Louisville, KY
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, Norton Healthcare, Inc. Retirement Plan covered 4,519 participants and held $169M in net assets. The plan is a cash balance pension plan sponsored by Norton Healthcare, Inc. of Louisville, Kentucky.
Net assets came to $37,324 per participant, well below the $87,935 median for defined benefit plans with 1,000 to 4,999 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.
Schedule C lists 6 service provider organisations paid $5,000 or more, with reported compensation of $1.1M: $245 per participant, well below the same-size median of $325. Administrative expenses charged to the plan were $1.6M. 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 $205M in 2009 to $169M in 2024 (down 18%), and participants from 11,355 to 4,519 (down 60%).
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 | $37,324 | $87,935 | $62,049 | $86,221 |
| Employer contributions per active participant | — | $10,593 | $7,491 | $10,244 |
| Schedule C compensation per participant | $245 | $325 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.66% | 0.41% | 0.39% | 0.42% |
| Administrative expenses per participant | $350 | $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 | 4,519 | $169M | $37,324 | — | — | $1.1M |
| 2023 | 4,719 | $170M | $36,003 | — | — | $1.1M |
| 2022 | 4,918 | $162M | $32,895 | — | — | $1.4M |
| 2021 | 5,204 | $209M | $40,139 | — | — | $900K |
| 2020 | 5,500 | $215M | $39,079 | $0 | $0 | $1.2M |
| 2019 | 5,741 | $207M | $36,085 | $0 | $0 | $1.2M |
| 2018 | 6,626 | $194M | $29,348 | $18.8M | $0 | $1.2M |
| 2017 | 7,133 | $200M | $27,979 | $165K | $0 | $1.2M |
| 2016 | 7,501 | $208M | $27,727 | $0 | $0 | $1.3M |
| 2015 | 7,966 | $217M | $27,259 | $0 | $0 | $1.4M |
| 2014 | 8,436 | $234M | $27,782 | $0 | $0 | $1.1M |
| 2013 | 9,224 | $231M | $25,001 | $0 | $0 | $814K |
| 2012 | 9,830 | $269M | $27,392 | $0 | $0 | $635K |
| 2011 | 10,482 | $258M | $24,613 | — | — | $596K |
| 2010 | 10,883 | $229M | $21,006 | $8.0M | — | $599K |
| 2009 | 11,355 | $205M | $18,060 | $12.0M | — | $282K |
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$169,899,404
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$11,396,420
- Benefits paid$11,043,904
- Administrative expenses$1,583,562
- Total expenses$12,627,466
- Net income−$1,231,046
- Net transfers$0
- Net assets, end of year$168,668,358
Participants
- Active participants2,345
- Retired or separated, receiving benefits545
- Retired or separated, entitled to future benefits1,569
- Participants with account balances0
- Total participants, end of year4,519
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Principal Life Insurance Company | Contract Administrator | $611,120 | $0 |
| Income Research and Mana | Contract Administrator; Investment advisory (plan) | $244,309 | $0 |
| Fiducient Advisors LLC | Investment advisory (plan) | $133,548 | $0 |
| BNY Mellon | Contract Administrator | $58,229 | $0 |
| Norton Healthcare Inc. | Accounting (including auditing) | $33,000 | $0 |
| Creative Planning | Contract Administrator | $25,000 | $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
- Contract administrator fees$694,349
- Other administrative expenses$478,336
- Investment advisory and management fees$377,877
- IQPA audit fees$33,000
- Total administrative expenses$1,583,562
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$79.2M · 46.9%
- Registered investment companies (mutual funds)$47.6M · 28.2%
- Common/collective trusts$29.7M · 17.6%
- U.S. Government securities$5.6M · 3.3%
- Pooled separate accounts$4.3M · 2.5%
- Other investments$1.3M · 0.8%
- Receivables$1.0M · 0.6%
- Cash (interest and non-interest bearing)$520 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmErnst & Young, LLP
- 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
1CCash 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 Norton Healthcare, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Norton Healthcare 403(b) Retirement Savings Plan | 26,534 | $2.27B |
Similar plans in Kentucky
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Appalachian Regional Healthcare, Inc. Pension Plan | Appalachian Regional Healthcare, Inc. | 4,356 | $166M | $38,222 |
| Appalachian Regional Healthcare, Inc. Retirement Plan | Appalachian Regional Healthcare, Inc. | 2,605 | $124M | $47,451 |
| Commonwealth Health Corporation Restated Retirement Plan | Commonwealth Health Corporation | 1,796 | $180M | $99,952 |
| Owensboro Health Retirement Plan | Owensboro Health, Inc. | 1,755 | $123M | $70,074 |
| Appalachian Regional Healthcare, Inc. Administrative Retirement Plan | Appalachian Regional Healthcare, Inc. | 1,013 | $53.0M | $52,328 |
| Pension Plan for Employees of Baptist Health Richmond | Baptist Healthcare System, Inc. | 578 | $17.5M | $30,235 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Norton Healthcare, Inc. Retirement Plan?
4,519 participants at the end of the plan year ending 31 Dec 2024, of whom 2,345 were active employees, with net assets of $168,668,358. 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 Norton Healthcare, 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 $1,105,206 in compensation to service provider organisations, $245 per participant or 0.66% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $1,583,562. 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 Norton Healthcare, Inc.. Recordkeeping or administration: Principal Life Insurance Company, Income Research and Mana and BNY Mellon. Investment advisory or management: Income Research and Mana and Fiducient Advisors LLC. The financial statements were audited by Ernst & Young, 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 10 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 61-1028725, plan 001, received 10 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.