Florida › Health care and social assistance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Nov 2024 to 31 Dec 2024
Lee Health System 403(b) Retirement Plan
Sponsored by Lee Health System, Inc., Fort Myers, FL
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.
Lee Health System, Inc. of Fort Myers, Florida sponsors Lee Health System 403(b) Retirement Plan, a 403(b) plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 19,783 participants (17,223 active) and $1.28B in net assets.
Net assets came to $64,736 per participant, close to the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and well above the $30,764 median for defined contribution 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.
The employer contributed $5.4M during the year, or $313 per active participant against a same-size median of $2,424; participants contributed $10.2M and $48.4M arrived as rollovers and other contributions. Benefits paid out totalled $30.7M.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $185K: $9.36 per participant, well below the same-size median of $53.38. Administrative expenses charged to the plan were $186K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $64,736 | $64,499 | $30,764 | $53,102 |
| Employer contributions per active participant | $313 | $2,424 | $1,536 | $2,175 |
| Schedule C compensation per participant | $9.36 | $53.38 | $93.85 | $123 |
| Schedule C compensation, share of net assets | 0.01% | 0.09% | 0.31% | 0.26% |
| Administrative expenses per participant | $9.39 | $54.85 | $86.53 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 5,000 to 24,999 participants (2,605 plans), health care and social assistance (9,402) and all US plans (63,460). Fee medians cover plans that report an amount.
Statement for the year
- Net assets, beginning of year$0
- Employer contributions$5,397,317
- Participant contributions$10,233,847
- Rollovers and other contributions$48,359,392
- Total contributions$63,990,556
- Total income, including investment results$80,499,678
- Benefits paid$30,653,412
- Administrative expenses$185,721
- Total expenses$30,839,133
- Net income$49,660,545
- Net transfers$1,231,015,903
- Net assets, end of year$1,280,676,448
Participants
- Active participants17,223
- Retired or separated, receiving benefits208
- Retired or separated, entitled to future benefits2,287
- Participants with account balances12,176
- Total participants, end of year19,783
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Transamerica Retirement Solutions | Claims processing; Recordkeeping and information management; Investment management; Participant loan processing; Participant communication | $184,455 | $0 |
| Charles Schwab & Co., Inc. | Securities brokerage | $674 | $0 |
| National Financial Services | Securities brokerage | $0 | $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
- Recordkeeping fees$184,455
- Investment advisory and management fees$1,266
- Total administrative expenses$185,721
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.
- Registered investment companies (mutual funds)$1.13B · 88.0%
- Insurance company general account$132M · 10.3%
- Participant loans$10.8M · 0.8%
- Other investments$10.4M · 0.8%
- Receivables$272K · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionNot stated
- Audit scope limited under ERISA section 103(a)(3)(C)—
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondNo
- 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
2FERISA section 404(c) plan2GTotal participant-directed account plan2KCode section 401(m) arrangement2LCode section 403(b)(1) arrangement (annuity contracts)2MCode section 403(b)(7) accounts (custodial accounts for regulated investment company stock)2RParticipant-directed brokerage accounts provided as an investment option under the plan2TTotal or partial participant-directed account plan with a default investment account3DPre-approved pension plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 621399: Offices of all Other Miscellaneous Health Practitioners.
Other plans of Lee Health System, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Retirement Plan for Former Employees of Cape Coral Medical Center, Inc. | 868 | $27.8M |
Similar plans in Florida
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Baptist Health South Florida, Inc. 403(b) Employee Retirement Plan | Baptist Health South Florida, Inc. | 35,472 | $2.66B | $75,091 |
| Baptist Health System, Inc. Matched Savings Plan | Baptist Health System, Inc. | 18,620 | $783M | $42,042 |
| Baycare Health System Retirement Plan | Baycare Health System | 40,015 | $3.11B | $77,799 |
| Florida Health Sciences Center 403(b) Savings Plan | Florida Health Sciences Center, Inc. | 17,449 | $768M | $44,030 |
| Orlando Health Retirement Savings Plan 403(b) | Orlando Health, Inc. | 55,514 | $1.91B | $34,484 |
| The Nemours Foundation Section 403(b) Plan | The Nemours Foundation | 16,384 | $1.31B | $80,195 |
Defined contribution plans in health care and social assistance closest in size.
Questions and answers
How big is Lee Health System 403(b) Retirement Plan?
19,783 participants at the end of the plan year ending 31 Dec 2024, of whom 17,223 were active employees, with net assets of $1,280,676,448. Among defined contribution plans that places it in the 5,000 to 24,999 participants band, which held 2,605 plans in plan year 2024.
What does Lee Health System, Inc. contribute per participant?
The filing reports $5,397,317 in employer contributions for the year, which is $313 per active participant; the median for plans of the same type and size was $2,424 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 $185,129 in compensation to service provider organisations, $9.36 per participant or 0.01% of net assets. The same-size median among plans reporting any Schedule C compensation was $53.38 per participant. Administrative expenses on Schedule H were $185,721. 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 Lee Health System, Inc.. Recordkeeping or administration: Transamerica Retirement Solutions. Investment advisory or management: Transamerica Retirement 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 does not state an accountant's opinion type.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Nov 2024 to 31 Dec 2024, received by the Department of Labor on 23 Jun 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 99-2646504, plan 001, received 23 Jun 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.