California › Health care and social assistance › 25,000 or more participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Sutter Health Retirement Plan
Sponsored by Sutter Health, Sacramento, CA
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.
Sutter Health Retirement Plan is a cash balance pension plan sponsored by Sutter Health of Sacramento, California. For the plan year ending 31 Dec 2024 it reported 66,154 participants, 40,026 of them active, and net assets of $5.87B.
Net assets came to $88,739 per participant, close to the $88,040 median for defined benefit plans with 25,000 or more 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 15 service provider organisations paid $5,000 or more, with reported compensation of $18.2M: $275 per participant, well above the same-size median of $143. Administrative expenses charged to the plan were $24.6M. 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 $1.67B in 2009 to $5.87B in 2024 (up 252%), and participants from 40,238 to 66,154 (up 64%).
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 | $88,739 | $88,040 | $62,049 | $86,221 |
| Employer contributions per active participant | — | $6,524 | $7,491 | $10,244 |
| Schedule C compensation per participant | $275 | $143 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.31% | 0.26% | 0.39% | 0.42% |
| Administrative expenses per participant | $371 | $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 | 66,154 | $5.87B | $88,739 | — | — | $18.2M |
| 2023 | 62,697 | $5.74B | $91,573 | — | — | $17.9M |
| 2022 | 60,900 | $5.56B | $91,307 | — | — | $17.6M |
| 2021 | 59,598 | $6.51B | $109,160 | — | — | $18.2M |
| 2020 | 59,991 | $5.95B | $99,252 | $225M | — | $17.2M |
| 2019 | 59,027 | $5.08B | $86,042 | $290M | — | $15.5M |
| 2018 | 57,796 | $4.20B | $72,585 | $257M | — | $16.9M |
| 2017 | 56,941 | $4.36B | $76,587 | $165M | — | $13.7M |
| 2016 | 55,127 | $3.64B | $65,944 | $310M | — | $11.2M |
| 2015 | 52,698 | $3.25B | $61,721 | $107M | — | $12.8M |
| 2014 | 50,756 | $3.36B | $66,150 | $240M | — | $12.2M |
| 2013 | 47,610 | $3.19B | $66,975 | $13.8M | — | $14.4M |
| 2012 | 46,564 | $2.76B | $59,250 | $193M | — | $6.1M |
| 2011 | 45,591 | $2.30B | $50,406 | $411M | — | $0 |
| 2010 | 41,086 | $1.98B | $48,094 | $120M | — | $0 |
| 2009 | 40,238 | $1.67B | $41,453 | — | — | $0 |
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$5,741,381,599
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$441,853,907
- Benefits paid$288,223,877
- Administrative expenses$24,554,225
- Total expenses$312,778,102
- Net income$129,075,805
- Net transfers$0
- Net assets, end of year$5,870,457,404
Participants
- Active participants40,026
- Retired or separated, receiving benefits9,635
- Retired or separated, entitled to future benefits15,914
- Total participants, end of year66,154
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Alight Solutions LLC | Recordkeeping and information management | $2,681,250 | $0 |
| Marathon-London | Investment management | $1,924,255 | $0 |
| The Northern Trust Company | Trustee (bank, trust company, or similar financial institution); Investment management; Securities brokerage | $1,636,131 | $0 |
| Deprince Race & Zollo Inc. | Investment management | $1,562,356 | $0 |
| Next Century Growth Inv, LLC | Investment management | $1,494,512 | $0 |
| Capital Guardian Trust Company | Investment management | $1,385,395 | $0 |
| Sands Capital MGMT, LLC | Investment management | $1,139,417 | $0 |
| Timessquare Capital MGMT, LLC | Investment management | $992,119 | $0 |
| Dodge & Cox | Investment management | $718,154 | $0 |
| Brandywine Global Inv. MGMT | Investment management | $645,885 | $0 |
| Verus | Consulting (pension) | $441,423 | $0 |
| Tremblant Capital LP | Investment management | $434,097 | $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$11,766,432
- Other administrative expenses$7,631,168
- Contract administrator fees$2,885,250
- Valuation and appraisal fees$1,244,377
- Trustee and custodial fees$553,064
- Actuarial fees$393,676
- IQPA audit fees$80,258
- Total administrative expenses$24,554,225
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$1.42B · 23.0%
- Other investments$1.42B · 23.0%
- Corporate stocks$1.06B · 17.2%
- Common/collective trusts$796M · 12.9%
- Registered investment companies (mutual funds)$339M · 5.5%
- U.S. Government securities$332M · 5.4%
- 103-12 investment entities$321M · 5.2%
- Receivables$272M · 4.4%
- Corporate debt instruments$197M · 3.2%
- Cash (interest and non-interest bearing)$13.8M · 0.2%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmErnst & Young LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $10,000,000
- 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 plan1ECode section 401(h) arrangement3HPlan 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 Sutter Health
| Plan | Participants | Net assets |
|---|---|---|
| Sutter Health 403(b) Savings Plan | 78,643 | $7.63B |
| Sutter Health Retirement Income Plan | 16,884 | $864M |
| Sutter Health 401(k) Savings Plan | 3,959 | $180M |
| Sutter Health Tax Deferred Annuity Employer Match Plan | 2,052 | $153M |
| Sutter Health 403(b) Legacy Retirement Plan | 689 | $60.9M |
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Kaiser Permanente Retirement Plan for Scpmg | Southern California Permanente Medical Group | 69,139 | $8.38B | $121,192 |
| Kaiser Permanente Employees Pension Plan | The Permanente Medical Group, Inc. | 55,868 | $5.63B | $100,724 |
| Kaiser Permanente Retirement Plan | Kaiser Foundation Health Plan, Inc. | 205,262 | $34.4B | $167,716 |
| Retirement Plan for Physicians and Salaried Employees of the Permanente Medical Group, Inc. | The Permanente Medical Group, Inc. | 30,132 | $11.4B | $379,602 |
| Sharpsaver Retirement Plan | Sharp Healthcare | 18,811 | $684M | $36,377 |
| Retirement Plan for Hospital Employees | Board of Trustees Retirement Plan for Hospital Employees | 17,381 | $1.20B | $69,146 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Sutter Health Retirement Plan?
66,154 participants at the end of the plan year ending 31 Dec 2024, of whom 40,026 were active employees, with net assets of $5,870,457,404. 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 Sutter Health 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 $18,211,594 in compensation to service provider organisations, $275 per participant or 0.31% of net assets. The same-size median among plans reporting any Schedule C compensation was $143 per participant. Administrative expenses on Schedule H were $24,554,225. 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 Sutter Health. Recordkeeping or administration: Alight Solutions LLC. Investment advisory or management: Marathon-London, The Northern Trust Company and Deprince Race & Zollo Inc.. Trustee or custodian: The Northern Trust Company. 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. 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 6 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 94-2788907, plan 333, received 6 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.