401k Plan data: MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN plan

MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN 401k Plan overview

Plan Name	MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN
Plan identification number	003

MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN Benefits

401k Plan Type

Defined Contribution Pension

Plan Features/Benefits

Profit-sharing
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.
Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.
Plan sponsor(s) received services of leased employees, as defined in Code section 414(n), during the plan year.

401k Sponsoring company profile

MAGNOLIA REGIONAL HEALTH SYSTEM, INC. DBA MAGNOLIA REGIONAL MEDICAL CE has sponsored the creation of one or more 401k plans.

Company Name: MAGNOLIA REGIONAL HEALTH SYSTEM, INC. DBA MAGNOLIA REGIONAL MEDICAL CE

Employer identification number (EIN): 850512754

NAIC Classification: 622000
NAIC Description: Hospitals

Form 5500 Filing Information

Submission information for form 5500 for 401k plan MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
003 2022-01-01
003 2021-01-01
003 2020-01-01 ROXANE STEWART 2021-10-07

Plan Statistics for MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN

401k plan membership statisitcs for MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN

Measure Date Value
2022: MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year 2022-01-01 228
Total number of active participants reported on line 7a of the Form 5500 2022-01-01 206
Number of retired or separated participants receiving benefits 2022-01-01 2
Number of other retired or separated participants entitled to future benefits 2022-01-01 19
Total of all active and inactive participants 2022-01-01 227
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2022-01-01 0
Total participants 2022-01-01 227
Number of participants with account balances 2022-01-01 168
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2022-01-01 9
2021: MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year 2021-01-01 200
Total number of active participants reported on line 7a of the Form 5500 2021-01-01 205
Number of retired or separated participants receiving benefits 2021-01-01 1
Number of other retired or separated participants entitled to future benefits 2021-01-01 17
Total of all active and inactive participants 2021-01-01 223
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits 2021-01-01 0
Total participants 2021-01-01 223
Number of participants with account balances 2021-01-01 156
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 2021-01-01 18

Measure	Date	Value
2022: MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN 2022 401k membership
Total participants, beginning-of-year	2022-01-01	228
Total number of active participants reported on line 7a of the Form 5500	2022-01-01	206
Number of retired or separated participants receiving benefits	2022-01-01	2
Number of other retired or separated participants entitled to future benefits	2022-01-01	19
Total of all active and inactive participants	2022-01-01	227
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2022-01-01	0
Total participants	2022-01-01	227
Number of participants with account balances	2022-01-01	168
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2022-01-01	9
2021: MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN 2021 401k membership
Total participants, beginning-of-year	2021-01-01	200
Total number of active participants reported on line 7a of the Form 5500	2021-01-01	205
Number of retired or separated participants receiving benefits	2021-01-01	1
Number of other retired or separated participants entitled to future benefits	2021-01-01	17
Total of all active and inactive participants	2021-01-01	223
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits	2021-01-01	0
Total participants	2021-01-01	223
Number of participants with account balances	2021-01-01	156
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested	2021-01-01	18

Financial Data on MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN

Measure	Date	Value
2022 : MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets	2022-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2022-12-31	$0
Total income from all sources (including contributions)	2022-12-31	$-133,463
Total loss/gain on sale of assets	2022-12-31	$0
Total of all expenses incurred	2022-12-31	$504,158
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2022-12-31	$469,111
Value of total corrective distributions	2022-12-31	$9,227
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2022-12-31	$708,837
Value of total assets at end of year	2022-12-31	$5,242,597
Value of total assets at beginning of year	2022-12-31	$5,880,218
Total of administrative expenses incurred including professional, contract, advisory and management fees	2022-12-31	$25,820
Total interest from all sources	2022-12-31	$0
Total dividends received (eg from common stock, registered investment company shares)	2022-12-31	$1,285
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2022-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2022-12-31	$1,285
Was this plan covered by a fidelity bond	2022-12-31	Yes
Value of fidelity bond cover	2022-12-31	$500,000
If this is an individual account plan, was there a blackout period	2022-12-31	No
Were there any nonexempt tranactions with any party-in-interest	2022-12-31	No
Contributions received from participants	2022-12-31	$470,853
Income. Received or receivable in cash from other sources (including rollovers)	2022-12-31	$3,836
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Value of net income/loss	2022-12-31	$-637,621
Value of net assets at end of year (total assets less liabilities)	2022-12-31	$5,242,597
Value of net assets at beginning of year (total assets less liabilities)	2022-12-31	$5,880,218
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2022-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2022-12-31	No
Were any leases to which the plan was party in default or uncollectible	2022-12-31	No
Investment advisory and management fees	2022-12-31	$15,261
Value of interest in registered invesment companies (eg mutual funds) at end of year	2022-12-31	$77,278
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2022-12-31	$48,283
Value of interest in common/collective trusts at end of year	2022-12-31	$5,163,134
Value of interest in common/collective trusts at beginning of year	2022-12-31	$5,829,620
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2022-12-31	$1,590
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2022-12-31	$1,024
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2022-12-31	$1,024
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2022-12-31	$595
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2022-12-31	$1,291
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2022-12-31	$-12,520
Net investment gain or loss from common/collective trusts	2022-12-31	$-831,065
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2022-12-31	No
Was there a failure to transmit to the plan any participant contributions	2022-12-31	No
Has the plan failed to provide any benefit when due under the plan	2022-12-31	No
Contributions received in cash from employer	2022-12-31	$234,148
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2022-12-31	$469,111
Contract administrator fees	2022-12-31	$10,559
Did the plan have assets held for investment	2022-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2022-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2022-12-31	No
Opinion of an independent qualified public accountant for this plan	2022-12-31	Unqualified
Accountancy firm name	2022-12-31	FORVIS, LLP
Accountancy firm EIN	2022-12-31	440160260
2021 : MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets	2021-12-31	$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2021-12-31	$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)	2021-12-31	$0
Total income from all sources (including contributions)	2021-12-31	$1,323,316
Total loss/gain on sale of assets	2021-12-31	$0
Total of all expenses incurred	2021-12-31	$188,536
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others	2021-12-31	$153,504
Value of total corrective distributions	2021-12-31	$16,938
Total contributions o plan (from employers,participants, others, non cash contrinutions)	2021-12-31	$690,260
Value of total assets at end of year	2021-12-31	$5,880,218
Value of total assets at beginning of year	2021-12-31	$4,745,438
Total of administrative expenses incurred including professional, contract, advisory and management fees	2021-12-31	$18,094
Total interest from all sources	2021-12-31	$0
Total dividends received (eg from common stock, registered investment company shares)	2021-12-31	$636
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year	2021-12-31	No
Total dividends received from registered investment company shares (eg mutual funds)	2021-12-31	$636
Was this plan covered by a fidelity bond	2021-12-31	Yes
Value of fidelity bond cover	2021-12-31	$500,000
If this is an individual account plan, was there a blackout period	2021-12-31	No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities	2021-12-31	$0
Were there any nonexempt tranactions with any party-in-interest	2021-12-31	No
Contributions received from participants	2021-12-31	$461,142
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser	2021-12-31	No
Value of net income/loss	2021-12-31	$1,134,780
Value of net assets at end of year (total assets less liabilities)	2021-12-31	$5,880,218
Value of net assets at beginning of year (total assets less liabilities)	2021-12-31	$4,745,438
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)	2021-12-31	No
Were any loans by the plan or fixed income obligations due to the plan in default	2021-12-31	No
Were any leases to which the plan was party in default or uncollectible	2021-12-31	No
Investment advisory and management fees	2021-12-31	$13,890
Value of interest in registered invesment companies (eg mutual funds) at end of year	2021-12-31	$48,283
Value of interest in registered invesment companies (eg mutual funds) at beginning of year	2021-12-31	$2,527
Value of interest in common/collective trusts at end of year	2021-12-31	$5,829,620
Value of interest in common/collective trusts at beginning of year	2021-12-31	$4,741,824
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year	2021-12-31	$1,024
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year	2021-12-31	$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year	2021-12-31	$0
Value of funds held in insurance company general accounts (unallocated contracts) at end of year	2021-12-31	$1,291
Value of funds held in insurance company general accounts (unallocated contracts) at beginning of year	2021-12-31	$1,087
Net investment gain/loss from registered investment companies (e.g. mutual funds)	2021-12-31	$9,317
Net investment gain or loss from common/collective trusts	2021-12-31	$623,103
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets	2021-12-31	No
Was there a failure to transmit to the plan any participant contributions	2021-12-31	No
Has the plan failed to provide any benefit when due under the plan	2021-12-31	No
Contributions received in cash from employer	2021-12-31	$229,118
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers	2021-12-31	$153,504
Contract administrator fees	2021-12-31	$4,204
Did the plan have assets held for investment	2021-12-31	Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser	2021-12-31	No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC	2021-12-31	No
Opinion of an independent qualified public accountant for this plan	2021-12-31	Unqualified
Accountancy firm name	2021-12-31	FORVIS, LLP
Accountancy firm EIN	2021-12-31	440160260

Form 5500 Responses for MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN

2022: MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN 2022 form 5500 responses
2022-01-01	Type of plan entity	Single employer plan
2022-01-01	Submission has been amended	No
2022-01-01	This submission is the final filing	No
2022-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2022-01-01	Plan is a collectively bargained plan	No
2022-01-01	Plan funding arrangement – Insurance	Yes
2022-01-01	Plan funding arrangement – Trust	Yes
2022-01-01	Plan benefit arrangement – Insurance	Yes
2022-01-01	Plan benefit arrangement - Trust	Yes
2021: MAGNOLIA REGIONAL MEDICAL CENTER 401(K) PLAN 2021 form 5500 responses
2021-01-01	Type of plan entity	Single employer plan
2021-01-01	Submission has been amended	No
2021-01-01	This submission is the final filing	No
2021-01-01	This return/report is a short plan year return/report (less than 12 months)	No
2021-01-01	Plan is a collectively bargained plan	No
2021-01-01	Plan funding arrangement – Insurance	Yes
2021-01-01	Plan funding arrangement – Trust	Yes
2021-01-01	Plan benefit arrangement – Insurance	Yes
2021-01-01	Plan benefit arrangement - Trust	Yes

Insurance Providers Used on plan

STANDARD INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 69019 )

Policy contract number

814275A

Policy instance

Insurance contract or identification number	814275A
Number of Individuals Covered	2
Insurance policy start date	2022-01-01
Insurance policy end date	2022-12-31
Are there contracts with allocated funds for individual policies?	0
Are there contracts with allocated funds for group deferred annuity?	No
Are there contracts with allocated funds for types other than group deferred annuity or individual?	No
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Contracts With Unallocated Funds Deposit Administration	0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?	No
Are there contracts with unallocated funds for contracts of type guaranteed investment?	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	No
Health Insurance Welfare Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No

STANDARD INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 69019 )

Policy contract number

814275A

Policy instance

Insurance contract or identification number	814275A
Number of Individuals Covered	1
Insurance policy start date	2021-01-01
Insurance policy end date	2021-12-31
Are there contracts with allocated funds for individual policies?	0
Are there contracts with allocated funds for group deferred annuity?	No
Are there contracts with allocated funds for types other than group deferred annuity or individual?	No
Contract purchased, in whole or in part, to distribute benefits from a terminating plan	No
Contracts With Unallocated Funds Deposit Administration	0
Are there contracts with unallocated funds for contracts of type immediate participation guarantee?	No
Are there contracts with unallocated funds for contracts of type guaranteed investment?	No
Are there contracts with unallocated funds for contract types other than deposit administration, immediate participation guarantee or guaranteed investment?	No
Health Insurance Welfare Benefit	No
Dental Insurance Welfare Benefit	No
Vision Insurance Welfare Benefit	No
Life Insurance Welfare Benefit	No
Temporary Disability Insurance Welfare Benefit	No
Long Term Disability Insurance Welfare Benefit	No
Unemployment Insurance Welfare Benefit	No
Were dividends or retroactive rate refunds paid in cash?	No
Were dividends or retroactive rate refunds paid as a credit?	No
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No

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See full terms and conditions

Company Name:	MAGNOLIA REGIONAL HEALTH SYSTEM, INC. DBA MAGNOLIA REGIONAL MEDICAL CE
Employer identification number (EIN):	850512754
NAIC Classification:	622000
NAIC Description:	Hospitals

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed
003	2022-01-01
003	2021-01-01
003	2020-01-01	ROXANE STEWART	2021-10-07