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CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN 401k Plan overview

Plan NameCROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN
Plan identification number 001

CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

PROSPECT CROZER, LLC has sponsored the creation of one or more 401k plans.

Company Name:PROSPECT CROZER, LLC
Employer identification number (EIN):611178286
NAIC Classification:622000
NAIC Description: Hospitals

Form 5500 Filing Information

Submission information for form 5500 for 401k plan CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012016-07-01STEVE ALEMAN
0012016-01-01STEVE ALEMAN STEVE ALEMAN2017-10-16
0012015-01-01STEVE ALEMAN STEVE ALEMAN2016-10-14

Plan Statistics for CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN

401k plan membership statisitcs for CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN

Measure Date Value
2016: CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN 2016 401k membership
Market value of plan assets2016-12-31356,588,376
Acturial value of plan assets2016-12-31373,848,370
Funding target for retired participants and beneficiaries receiving payment2016-12-31187,917,373
Number of terminated vested participants2016-12-313,287
Fundng target for terminated vested participants2016-12-3179,282,163
Active participant vested funding target2016-12-31183,591,414
Number of active participants2016-12-313,286
Total funding liabilities for active participants2016-12-31187,175,937
Total participant count2016-12-318,735
Total funding target for all participants2016-12-31454,375,473
Balance at beginning of prior year after applicable adjustments2016-12-310
Prefunding balance at beginning of prior year after applicable adjustments2016-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2016-12-310
Prefunding balanced used to offset prior years funding requirement2016-12-310
Amount remaining of carryover balance2016-12-310
Amount remaining of prefunding balance2016-12-310
Present value of excess contributions2016-12-314,111
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2016-12-314,367
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2016-12-310
Reductions in caryover balances due to elections or deemed elections2016-12-310
Reductions in prefunding balances due to elections or deemed elections2016-12-310
Balance of carryovers at beginning of current year2016-12-310
Balance of prefunding at beginning of current year2016-12-310
Total employer contributions2016-12-31106,173,000
Total employee contributions2016-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2016-12-310
Contributions made to avoid restrictions adjusted to valuation date2016-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2016-12-31103,152,854
Liquidity shortfalls end of Q12016-12-310
Liquidity shortfalls end of Q22016-12-310
Liquidity shortfalls end of Q32016-12-310
Liquidity shortfalls end of Q42016-12-310
Unpaid minimum required contributions for all prior years2016-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2016-12-310
Remaining amount of unpaid minimum required contributions2016-12-310
Minimum required contributions for current year target normal cost2016-12-316,035,860
Net shortfall amortization installment of oustanding balance2016-12-3180,527,103
Waiver amortization installment2016-12-310
Total funding amount beforereflecting carryover/prefunding balances2016-12-3116,037,786
Additional cash requirement2016-12-3116,037,786
Contributions allocatedtoward minimum required contributions for current year2016-12-31103,152,854
Unpaid minimum required contributions for current year2016-12-310
Unpaid minimum required contributions for all years2016-12-310
Total participants, beginning-of-year2016-07-017
Total number of active participants reported on line 7a of the Form 55002016-07-015,861
Number of retired or separated participants receiving benefits2016-07-010
Number of other retired or separated participants entitled to future benefits2016-07-01111
Total of all active and inactive participants2016-07-015,972
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-07-011
Total participants2016-07-015,973
Number of participants with account balances2016-07-015,190
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-07-010
Total participants, beginning-of-year2016-01-018,589
Total number of active participants reported on line 7a of the Form 55002016-01-012,875
Number of retired or separated participants receiving benefits2016-01-012,070
Number of other retired or separated participants entitled to future benefits2016-01-011,605
Total of all active and inactive participants2016-01-016,550
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-01374
Total participants2016-01-016,924
Number of participants with account balances2016-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-01107
2015: CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN 2015 401k membership
Total participants, beginning-of-year2015-01-019,004
Total number of active participants reported on line 7a of the Form 55002015-01-013,286
Number of retired or separated participants receiving benefits2015-01-011,978
Number of other retired or separated participants entitled to future benefits2015-01-013,086
Total of all active and inactive participants2015-01-018,350
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-01382
Total participants2015-01-018,732
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-0165

Financial Data on CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN

Measure Date Value
2016 : CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN 2016 401k financial data
Unrealized appreciation/depreciation of real estate assets2016-12-31$0
Unrealized appreciation/depreciation of other (non real estate) assets2016-12-31$6,125,745
Total unrealized appreciation/depreciation of assets2016-12-31$6,125,745
Total transfer of assets to this plan2016-12-31$164,921
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$119,152
Expenses. Interest paid2016-12-31$0
Amount of participant contributions which was failed to transmit to the plan within the time period described in 29 CFR 251.3-1022016-12-31$0
Total income from all sources (including contributions)2016-12-31$81,442,737
Total loss/gain on sale of assets2016-12-31$-2,220,785
Total of all expenses incurred2016-12-31$356,530
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$314,897
Value of total corrective distributions2016-12-31$0
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$80,486,892
Value of total assets at end of year2016-12-31$81,251,128
Value of total assets at beginning of year2016-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$41,633
Total income from rents2016-12-31$0
Total interest from all sources2016-12-31$2,032
Total dividends received (eg from common stock, registered investment company shares)2016-12-31$1,313,249
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2016-12-31$1,313,249
Administrative expenses professional fees incurred2016-12-31$602,948
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$500,000
If this is an individual account plan, was there a blackout period2016-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2016-12-31$0
Were there any nonexempt tranactions with any party-in-interest2016-12-31No
Amount of non-exempt transactions with any party-in-interest2016-12-31$0
Contributions received from participants2016-12-31$6,403,394
Participant contributions at end of year2016-12-31$520,585
Participant contributions at beginning of year2016-12-31$0
Participant contributions at end of year2016-12-31$849,376
Participant contributions at beginning of year2016-12-31$0
Income. Received or receivable in cash from other sources (including rollovers)2016-12-31$68,681,617
Expenses. Other payments made (not to insurance carriers or or participants/beneficiaries)2016-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at end of year2016-12-31$945
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2016-12-31$0
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2016-12-31$119,152
Other income not declared elsewhere2016-12-31$244,818
Administrative expenses (other) incurred2016-12-31$41,633
Liabilities. Value of operating payables at beginning of year2016-12-31$0
Total non interest bearing cash at end of year2016-12-31$10,869
Total non interest bearing cash at beginning of year2016-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Income. Non cash contributions2016-12-31$0
Value of net income/loss2016-12-31$81,086,207
Value of net assets at end of year (total assets less liabilities)2016-12-31$81,251,128
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2016-12-31No
Amount of loans by the plan or fixed income obligations due to the plan which were in default/classified-as-uncollectible as of the close of the plan year2016-12-31$0
Were any leases to which the plan was party in default or uncollectible2016-12-31No
Amount of leases to which the plan was a party which were in default/classified-as-uncollectible during the year2016-12-31$0
Assets. partnership/joint venture interests at end of year2016-12-31$24,167,399
Assets. partnership/joint venture interests at beginning of year2016-12-31$63,738,810
Investment advisory and management fees2016-12-31$182,307
Value of interest in registered invesment companies (eg mutual funds) at end of year2016-12-31$72,863,931
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2016-12-31$0
Value of interest in pooled separate accounts at end of year2016-12-31$339,515,145
Value of interest in pooled separate accounts at beginning of year2016-12-31$10,064,157
Interest on participant loans2016-12-31$2,032
Income. Interest from loans (other than to participants)2016-12-31$0
Interest earned on other investments2016-12-31$20,316
Income. Interest from US Government securities2016-12-31$174,050
Income. Interest from corporate debt instruments2016-12-31$256,748
Value of interest in common/collective trusts at end of year2016-12-31$1,603,541
Value of interest in common/collective trusts at beginning of year2016-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2016-12-31$1,121,331
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2016-12-31$31,105,657
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2016-12-31$31,105,657
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2016-12-31$124,089
Assets. Value of investments in 103.12 investment entities at end of year2016-12-31$0
Assets. Value of investments in 103.12 investment entities at beginning of year2016-12-31$7,742,750
Expenses. Payments to insurance carriers foe the provision of benefits2016-12-31$0
Asset value of US Government securities at end of year2016-12-31$0
Asset value of US Government securities at beginning of year2016-12-31$7,392,286
Net investment gain/loss from registered investment companies (e.g. mutual funds)2016-12-31$-359,420
Net investment gain/loss from pooled separate accounts2016-12-31$-30,149,750
Net investment gain or loss from common/collective trusts2016-12-31$-16
Net gain/loss from 103.12 investment entities2016-12-31$0
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-12-31No
Was there a failure to transmit to the plan any participant contributions2016-12-31No
Has the plan failed to provide any benefit when due under the plan2016-12-31No
Contributions received in cash from employer2016-12-31$5,401,881
Employer contributions (assets) at end of year2016-12-31$5,401,881
Employer contributions (assets) at beginning of year2016-12-31$2,642,000
Income. Dividends from preferred stock2016-12-31$0
Income. Dividends from common stock2016-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$314,897
Asset. Corporate debt instrument debt (other) at end of year2016-12-31$0
Asset. Corporate debt instrument debt (other) at beginning of year2016-12-31$12,945,509
Contract administrator fees2016-12-31$729,415
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32016-12-31No
Liabilities. Value of benefit claims payable at beginning of year2016-12-31$0
Did the plan have assets held for investment2016-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-12-31No
Aggregate proceeds on sale of assets2016-12-31$584,585,199
Aggregate carrying amount (costs) on sale of assets2016-12-31$586,805,984
Liabilities. Value of acquisition indebtedness at beginning of year2016-12-31$0
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-12-31No
Opinion of an independent qualified public accountant for this plan2016-12-31Unqualified
Accountancy firm name2016-12-31TORRILLO & ASSOCIATES, LLC
Accountancy firm EIN2016-12-31830414789
2015 : CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN 2015 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2015-12-31$1,551,207
Total unrealized appreciation/depreciation of assets2015-12-31$1,551,207
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$119,152
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2015-12-31$327,864
Total income from all sources (including contributions)2015-12-31$19,710,083
Total loss/gain on sale of assets2015-12-31$-546,352
Total of all expenses incurred2015-12-31$49,287,580
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2015-12-31$44,035,481
Total contributions o plan (from employers,participants, others, non cash contrinutions)2015-12-31$18,152,014
Value of total assets at end of year2015-12-31$357,276,905
Value of total assets at beginning of year2015-12-31$387,063,114
Total of administrative expenses incurred including professional, contract, advisory and management fees2015-12-31$5,252,099
Total interest from all sources2015-12-31$820,159
Total dividends received (eg from common stock, registered investment company shares)2015-12-31$3,827,798
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2015-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2015-12-31$3,827,798
Administrative expenses professional fees incurred2015-12-31$382,724
Was this plan covered by a fidelity bond2015-12-31Yes
Value of fidelity bond cover2015-12-31$5,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2015-12-31$0
Were there any nonexempt tranactions with any party-in-interest2015-12-31No
Value of other receiveables (less allowance for doubtful accounts) at end of year2015-12-31$177,448
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2015-12-31$609,569
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2015-12-31$119,152
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2015-12-31$327,864
Administrative expenses (other) incurred2015-12-31$4,680,770
Total non interest bearing cash at end of year2015-12-31$15
Total non interest bearing cash at beginning of year2015-12-31$0
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Value of net income/loss2015-12-31$-29,577,497
Value of net assets at end of year (total assets less liabilities)2015-12-31$357,157,753
Value of net assets at beginning of year (total assets less liabilities)2015-12-31$386,735,250
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2015-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2015-12-31No
Were any leases to which the plan was party in default or uncollectible2015-12-31No
Assets. partnership/joint venture interests at end of year2015-12-31$63,738,810
Assets. partnership/joint venture interests at beginning of year2015-12-31$59,643,445
Investment advisory and management fees2015-12-31$188,605
Value of interest in registered invesment companies (eg mutual funds) at end of year2015-12-31$123,536,803
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2015-12-31$130,786,449
Value of interest in pooled separate accounts at end of year2015-12-31$10,064,157
Value of interest in pooled separate accounts at beginning of year2015-12-31$8,800,264
Interest earned on other investments2015-12-31$27,231
Income. Interest from US Government securities2015-12-31$299,475
Income. Interest from corporate debt instruments2015-12-31$428,864
Value of interest in common/collective trusts at end of year2015-12-31$97,931,470
Value of interest in common/collective trusts at beginning of year2015-12-31$139,116,937
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2015-12-31$31,105,657
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2015-12-31$9,182,890
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2015-12-31$9,182,890
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2015-12-31$64,589
Assets. Value of investments in 103.12 investment entities at end of year2015-12-31$7,742,750
Assets. Value of investments in 103.12 investment entities at beginning of year2015-12-31$9,903,091
Asset value of US Government securities at end of year2015-12-31$7,392,286
Asset value of US Government securities at beginning of year2015-12-31$6,434,280
Net investment gain/loss from registered investment companies (e.g. mutual funds)2015-12-31$-8,160,138
Net investment gain/loss from pooled separate accounts2015-12-31$1,339,812
Net investment gain or loss from common/collective trusts2015-12-31$2,555,924
Net gain/loss from 103.12 investment entities2015-12-31$169,659
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2015-12-31Yes
Was there a failure to transmit to the plan any participant contributions2015-12-31No
Has the plan failed to provide any benefit when due under the plan2015-12-31No
Contributions received in cash from employer2015-12-31$18,152,014
Employer contributions (assets) at end of year2015-12-31$2,642,000
Employer contributions (assets) at beginning of year2015-12-31$3,727,986
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2015-12-31$44,035,481
Asset. Corporate debt instrument debt (other) at end of year2015-12-31$12,945,509
Asset. Corporate debt instrument debt (other) at beginning of year2015-12-31$18,858,203
Did the plan have assets held for investment2015-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2015-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2015-12-31No
Aggregate proceeds on sale of assets2015-12-31$169,785,677
Aggregate carrying amount (costs) on sale of assets2015-12-31$170,332,029
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2015-12-31No
Opinion of an independent qualified public accountant for this plan2015-12-31Unqualified
Accountancy firm name2015-12-31TORRILLO & ASSOCIATES, LLC
Accountancy firm EIN2015-12-31830414789

Form 5500 Responses for CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN

2016: CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN 2016 form 5500 responses
2016-07-01Type of plan entitySingle employer plan
2016-07-01First time form 5500 has been submittedYes
2016-07-01This return/report is a short plan year return/report (less than 12 months)Yes
2016-07-01Plan funding arrangement – TrustYes
2016-07-01Plan benefit arrangement - TrustYes
2016-01-01Type of plan entitySingle employer plan
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planNo
2016-01-01Plan funding arrangement – InsuranceYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement – InsuranceYes
2016-01-01Plan benefit arrangement - TrustYes
2015: CROZER-KEYSTONE HEALTH SYSTEM EMPLOYEES RETIREMENT PLAN 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingNo
2015-01-01This return/report is a short plan year return/report (less than 12 months)No
2015-01-01Plan is a collectively bargained planYes
2015-01-01Plan funding arrangement – InsuranceYes
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes

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