Utah › Health care and social assistance › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Intermountain Healthcare Pension Plan
Sponsored by Intermountain Health Care, Inc., Salt Lake City, UT
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.
Intermountain Health Care, Inc. of Salt Lake City, Utah sponsors Intermountain Healthcare Pension Plan, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 40,022 participants (25,307 active) and $3.04B in net assets.
Net assets came to $75,979 per participant, below the $88,040 median for defined benefit plans with 25,000 or more participants and 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 15 service provider organisations paid $5,000 or more, with reported compensation of $19.2M: $480 per participant, well above the same-size median of $143. Administrative expenses charged to the plan were $23.4M. 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 $1.31B in 2009 to $3.04B in 2024 (up 132%), and participants from 40,855 to 40,022 (down 2%).
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 | $75,979 | $88,040 | $62,049 | $86,221 |
| Employer contributions per active participant | — | $6,524 | $7,491 | $10,244 |
| Schedule C compensation per participant | $480 | $143 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.63% | 0.26% | 0.39% | 0.42% |
| Administrative expenses per participant | $585 | $306 | $427 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 25,000 or more participants (215 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 | 40,022 | $3.04B | $75,979 | — | — | $19.2M |
| 2023 | 41,911 | $3.07B | $73,336 | — | — | $17.7M |
| 2022 | 43,114 | $2.89B | $67,028 | — | — | $10.3M |
| 2021 | 44,933 | $3.57B | $79,433 | $173M | — | $11.2M |
| 2020 | 45,909 | $3.31B | $71,993 | $197M | — | $11.0M |
| 2019 | 44,384 | $2.98B | $67,090 | $162M | — | $10.6M |
| 2018 | 43,076 | $2.67B | $61,965 | $119M | — | $11.9M |
| 2017 | 43,813 | $2.86B | $65,285 | $115M | — | $11.7M |
| 2016 | 42,263 | $2.62B | $61,885 | $120M | — | $12.4M |
| 2015 | 45,936 | $2.56B | $55,797 | $111M | — | $11.8M |
| 2014 | 44,821 | $2.63B | $58,613 | $320M | — | $10.6M |
| 2013 | 44,096 | $2.31B | $52,396 | $67.6M | — | $11.1M |
| 2012 | 43,457 | $2.09B | $47,979 | $218M | — | $6.1M |
| 2011 | 42,608 | $1.77B | $41,478 | $288M | — | $6.3M |
| 2010 | 41,818 | $1.59B | $37,932 | $175M | — | $6.6M |
| 2009 | 40,855 | $1.31B | $32,130 | $114M | — | $5.6M |
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$3,073,579,000
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$191,582,000
- Benefits paid$200,929,000
- Administrative expenses$23,403,000
- Total expenses$224,332,000
- Net income−$32,750,000
- Net transfers$0
- Net assets, end of year$3,040,829,000
Participants
- Active participants25,307
- Retired or separated, receiving benefits7,505
- Retired or separated, entitled to future benefits6,479
- Total participants, end of year40,022
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Hig Capital | Investment management | $2,259,000 | $0 |
| Catterton Management Company, LLC | Investment management | $2,014,000 | $0 |
| Charlesbank Capital Partners | Investment management | $1,964,000 | $0 |
| Silchester International Investors | Investment management | $1,326,000 | $0 |
| Walter Scott & Partners Limited | Investment management | $812,000 | $0 |
| Willis Towers Watson | Actuarial; Consulting (pension) | $703,000 | $0 |
| Athyrium Capital Management, LP | Investment management | $684,000 | $0 |
| Brightstar Capital Partners | Investment management fees paid directly by plan | $671,000 | $0 |
| Levine Leichtman Capital Partners | Investment management | $658,000 | $0 |
| Sands Capital Management, LLC | Investment management fees paid directly by plan; 'Soft dollars' commissions | $652,000 | $0 |
| Pacific Investment Management Co. | Investment management | $629,000 | $0 |
| Ae Industrial Partners, LLC | Investment management | $622,000 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 3 smaller rows are not shown. 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$17,564,000
- Other administrative expenses$4,237,000
- Actuarial fees$853,000
- Trustee and custodial fees$532,000
- IQPA audit fees$139,000
- Legal fees$78,000
- Total administrative expenses$23,403,000
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$778M · 22.9%
- Corporate stocks$720M · 21.2%
- U.S. Government securities$393M · 11.5%
- Registered investment companies (mutual funds)$367M · 10.8%
- Corporate debt instruments$281M · 8.3%
- Other investments$274M · 8.1%
- 103-12 investment entities$208M · 6.1%
- Receivables$157M · 4.6%
- Common/collective trusts$147M · 4.3%
- Cash (interest and non-interest bearing)$77.6M · 2.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmKPMG LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- 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 related1BBenefits are primarily flat dollar (includes dollars per year of service)1CCash balance or similar 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 Intermountain Health Care, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Intermountain Health 401(k) Plan | 86,655 | $6.83B |
| Intermountain Health 403(b) Plan | 47,089 | $342M |
Similar plans in Utah
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Utah Valley Pediatrics, PLLC Cash Balance Pension Plan | Utah Valley Pediatrics, PLLC | 244 | $7.1M | $29,059 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Intermountain Healthcare Pension Plan?
40,022 participants at the end of the plan year ending 31 Dec 2024, of whom 25,307 were active employees, with net assets of $3,040,829,000. Among defined benefit plans that places it in the 25,000 or more participants band, which held 215 plans in plan year 2024.
What does Intermountain Health Care, 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 $19,199,000 in compensation to service provider organisations, $480 per participant or 0.63% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $23,403,000. 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 Intermountain Health Care, Inc.. Investment advisory or management: Hig Capital, Catterton Management Company, LLC and Charlesbank Capital Partners. The financial statements were audited by KPMG 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 11 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 87-0269232, plan 001, received 11 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.