Texas › Health care and social assistance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jul 2024 to 30 Jun 2025
Memorial Hermann Pension Plan
Sponsored by Memorial Hermann Health System, Houston, TX
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.
Memorial Hermann Pension Plan is a cash balance pension plan sponsored by Memorial Hermann Health System of Houston, Texas. For the plan year ending 30 Jun 2025 it reported 11,377 participants, 5,208 of them active, and net assets of $648M.
Net assets came to $56,983 per participant, well below the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and 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 $40.5M. 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 $2.1M: $182 per participant, well below the same-size median of $232. Administrative expenses charged to the plan were $3.6M. 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 $559M in 2012 to $648M in 2024 (up 16%), and participants from 20,746 to 11,377 (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 | $56,983 | $87,623 | $62,049 | $86,221 |
| Employer contributions per active participant | $0 | $9,468 | $7,491 | $10,244 |
| Schedule C compensation per participant | $182 | $232 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.32% | 0.30% | 0.39% | 0.42% |
| Administrative expenses per participant | $314 | $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 | 11,377 | $648M | $56,983 | $0 | $0 | $2.1M |
| 2023 | 11,882 | $638M | $53,730 | $0 | $0 | $1.8M |
| 2022 | 12,460 | $635M | $51,001 | $11.2M | $0 | $1.4M |
| 2021 | 13,049 | $621M | $47,567 | $0 | $0 | $2.4M |
| 2020 | 14,290 | $745M | $52,128 | $0 | $0 | $2.2M |
| 2019 | 14,888 | $622M | $41,763 | — | — | $2.2M |
| 2018 | 15,360 | $654M | $42,579 | $72.0M | — | $2.2M |
| 2017 | 16,168 | $598M | $36,990 | $1.2M | — | $4.1M |
| 2016 | 16,881 | $599M | $35,497 | — | — | $3.1M |
| 2015 | 17,557 | $576M | $32,807 | $60.0M | — | $3.1M |
| 2014 | 18,365 | $575M | $31,312 | $10.0M | — | $3.4M |
| 2013 | 19,370 | $602M | $31,082 | $0 | — | $2.7M |
| 2012 | 20,746 | $559M | $26,968 | $30.0M | — | $2.8M |
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$638,425,300
- Employer contributions$0
- Participant contributions$0
- Rollovers and other contributions$0
- Total contributions$0
- Total income, including investment results$53,939,409
- Benefits paid$40,494,606
- Administrative expenses$3,571,977
- Total expenses$44,066,583
- Net income$9,872,826
- Net transfers$0
- Net assets, end of year$648,298,126
Participants
- Active participants5,208
- Retired or separated, receiving benefits2,227
- Retired or separated, entitled to future benefits3,646
- Total participants, end of year11,377
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Willis Towers Watson | Actuarial | $1,388,926 | $0 |
| Locust Wood | Investment management | $252,709 | $0 |
| Northern Trust Company | Trustee (directed) | $248,247 | $0 |
| McConnell & Jones LLLP | Accounting (including auditing) | $43,550 | $0 |
| Seyfarth Shaw LLP | Legal | $32,417 | $0 |
| Jacobs Levy Equity Management Inc. | Investment management | $24,938 | $0 |
| Pacific Ridge | Accounting (including auditing) | $22,134 | $0 |
| Montrusco | Investment management | $21,407 | $0 |
| The Bank of New York | Investment management | $15,726 | $0 |
| Harvey Partners LLC | Investment management | $13,128 | $0 |
| Putnam | Investment management | $7,633 | $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$1,437,632
- Actuarial fees$1,388,926
- Other administrative expenses$257,811
- Trustee and custodial fees$248,247
- Contract administrator fees$206,944
- Legal fees$32,417
- Total administrative expenses$3,571,977
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.
- Partnership/joint venture interests$243M · 37.4%
- Other investments$136M · 20.9%
- Registered investment companies (mutual funds)$110M · 16.9%
- Corporate stocks$67.7M · 10.4%
- Corporate debt instruments$54.9M · 8.4%
- Common/collective trusts$18.7M · 2.9%
- U.S. Government securities$16.0M · 2.5%
- Receivables$3.1M · 0.5%
- Cash (interest and non-interest bearing)$963K · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmMcConnell & Jones LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $20,000,000
- 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
1ABenefits are primarily pay related1CCash balance or similar plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 622000: Hospitals.
Other plans of Memorial Hermann Health System
| Plan | Participants | Net assets |
|---|---|---|
| Memorial Hermann Health System Employees' Retirement Savings Plan | 40,140 | $3.32B |
| Memorial Hermann Health System 401(k) Retirement Savings Plan and Trust | 3,059 | $106M |
Similar plans in Texas
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Texas Children's Hospital Cash Balance Pension Plan | Texas Children's | 19,315 | $713M | $36,915 |
| Retirement Plan for Employees of Texas Scottish Rite Hospital for Children | Texas Scottish Rite Hospital for Children | 657 | $221M | $336,763 |
| New England Sinai Hospital Pension Plan | New England Sinai Hospital, a Steward Family Hospital, Inc. | 380 | $15.5M | $40,737 |
| Texas Oncology P.A. Cash Balance Pension Plan | Texas Oncology, P.A. | 328 | $89.9M | $274,054 |
| Texas Heart Institute Retirement Plan | Texas Heart Institute | 164 | $7.5M | $45,829 |
| Pension Plan for Employees of Pediatric Associates of Dallas | Pediatric Associates of Dallas | 127 | — | — |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Memorial Hermann Pension Plan?
11,377 participants at the end of the plan year ending 30 Jun 2025, of whom 5,208 were active employees, with net assets of $648,298,126. 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 Memorial Hermann Health System 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 $2,070,815 in compensation to service provider organisations, $182 per participant or 0.32% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $3,571,977. 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 Memorial Hermann Health System. Investment advisory or management: Locust Wood, Jacobs Levy Equity Management Inc. and Montrusco. Trustee or custodian: Northern Trust Company. The financial statements were audited by McConnell & Jones 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 Jul 2024 to 30 Jun 2025, received by the Department of Labor on 13 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 74-1152597, plan 001, received 13 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.