California › Health care and social assistance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Retirement Plan for Hospital Employees
Sponsored by Board of Trustees Retirement Plan for Hospital Employees, San Francisco, 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.
Retirement Plan for Hospital Employees is a cash balance pension plan sponsored by Board of Trustees Retirement Plan for Hospital Employees of San Francisco, California. For the plan year ending 31 Dec 2024 it reported 17,381 participants, 2,043 of them active, and net assets of $1.20B. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $69,146 per participant, well below the $87,623 median for defined benefit plans with 5,000 to 24,999 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.
Employer contributions were $16.6M for the year ($8,109 per active participant) and benefits paid were $207M. 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 12 service provider organisations paid $5,000 or more, with reported compensation of $4.6M: $267 per participant, above the same-size median of $232. Administrative expenses charged to the plan were $5.5M. 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 $662M in 2009 to $1.20B in 2024 (up 82%), and participants from 23,519 to 17,381 (down 26%).
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 | $69,146 | $87,623 | $62,049 | $86,221 |
| Employer contributions per active participant | $8,109 | $9,468 | $7,491 | $10,244 |
| Schedule C compensation per participant | $267 | $232 | $248 | $344 |
| Schedule C compensation, share of net assets | 0.39% | 0.30% | 0.39% | 0.42% |
| Administrative expenses per participant | $316 | $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 | 17,381 | $1.20B | $69,146 | $16.6M | — | $4.6M |
| 2023 | 19,412 | $1.27B | $65,332 | $15.3M | — | $4.1M |
| 2022 | 19,837 | $1.21B | $61,035 | $20.8M | — | $5.1M |
| 2021 | 20,183 | $1.52B | $75,120 | $13.0M | — | $4.7M |
| 2020 | 20,412 | $1.42B | $69,436 | $27.5M | — | $4.7M |
| 2019 | 20,962 | $1.34B | $63,823 | $21.8M | — | $4.6M |
| 2018 | 21,244 | $1.17B | $55,167 | $19.6M | — | $4.6M |
| 2017 | 21,290 | $1.30B | $61,195 | $31.8M | — | $4.4M |
| 2016 | 21,658 | $1.13B | $52,228 | $47.5M | — | $3.9M |
| 2015 | 21,778 | $1.06B | $48,786 | $48.5M | — | $3.4M |
| 2014 | 21,839 | $1.08B | $49,572 | $32.4M | — | $3.5M |
| 2013 | 22,187 | $1.07B | $48,192 | $44.2M | — | $3.4M |
| 2012 | 22,502 | $884M | $39,302 | $40.6M | — | $3.2M |
| 2011 | 22,585 | $772M | $34,165 | $36.8M | — | $3.2M |
| 2010 | 23,227 | $781M | $33,606 | $55.5M | — | $3.0M |
| 2009 | 23,519 | $662M | $28,147 | $59.5M | — | $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$1,268,222,087
- Employer contributions$16,567,397
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$16,567,397
- Total income, including investment results$146,590,316
- Benefits paid$207,486,463
- Administrative expenses$5,498,525
- Total expenses$212,984,988
- Net income−$66,394,672
- Net transfers$0
- Net assets, end of year$1,201,827,415
Participants
- Active participants2,043
- Retired or separated, receiving benefits9,479
- Retired or separated, entitled to future benefits5,423
- Participants with account balances0
- Total participants, end of year17,381
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Towers Watson Investment Services | Investment advisory (plan) | $1,638,991 | $0 |
| Principal Custody Solutions | Trustee (bank, trust company, or similar financial institution) | $966,788 | $0 |
| Sangus Ltd. DBA Retirement Plan | Contract Administrator | $586,386 | $0 |
| Trucker-Huss | Legal | $527,933 | $0 |
| Willis Towers Watson | Actuarial | $315,774 | $0 |
| Dodge & Cox | Investment management | $281,768 | $0 |
| Iron Mountain | Other services | $109,217 | $0 |
| Brandywine Global Investment Manag | Investment management | $79,051 | $0 |
| Communication Services Center Inc. | Participant communication | $59,204 | $0 |
| Eide Bailly LLP | Accounting (including auditing) | $41,172 | $0 |
| RV Kuhns & Associates | Investment advisory (plan) | $17,000 | $0 |
| Pension Benefit Information | Other services | $9,545 | $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$2,066,485
- Contract administrator fees$1,491,790
- Other administrative expenses$869,804
- Legal fees$544,498
- Actuarial fees$315,774
- Other trustee fees and expenses$169,002
- IQPA audit fees$41,172
- Total administrative expenses$5,498,525
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$919M · 76.4%
- U.S. Government securities$98.5M · 8.2%
- 103-12 investment entities$90.0M · 7.5%
- Corporate debt instruments$53.4M · 4.4%
- Cash (interest and non-interest bearing)$22.8M · 1.9%
- Receivables$17.9M · 1.5%
- Corporate stocks$1.6M · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- 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.
Similar plans in California
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Sharpsaver Retirement Plan | Sharp Healthcare | 18,811 | $684M | $36,377 |
| John Muir Health Retirement Plan | John Muir Health | 7,089 | $630M | $88,904 |
| Retirement Plan for Physicians and Salaried Employees of the Permanente Medical Group, Inc. | The Permanente Medical Group, Inc. | 30,132 | $11.4B | $379,602 |
| Cedars-Sinai Defined Benefit Retirement Plan | Cedars-Sinai | 6,006 | $823M | $137,099 |
| Kaiser Permanente Employees Pension Plan | The Permanente Medical Group, Inc. | 55,868 | $5.63B | $100,724 |
| El Camino Hospital Cash Balance Plan | El Camino Hospital | 5,610 | $391M | $69,785 |
Defined benefit plans in health care and social assistance closest in size.
Questions and answers
How big is Retirement Plan for Hospital Employees?
17,381 participants at the end of the plan year ending 31 Dec 2024, of whom 2,043 were active employees, with net assets of $1,201,827,415. 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 Board of Trustees Retirement Plan for Hospital Employees contribute per participant?
The filing reports $16,567,397 in employer contributions for the year, which is $8,109 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 $4,632,829 in compensation to service provider organisations, $267 per participant or 0.39% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $5,498,525. 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 Board of Trustees Retirement Plan for Hospital Employees. Recordkeeping or administration: Sangus Ltd. DBA Retirement Plan. Investment advisory or management: Towers Watson Investment Services, Dodge & Cox and Brandywine Global Investment Manag. Trustee or custodian: Principal Custody Solutions. 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 14 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 94-2995676, plan 001, received 14 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.