OnlyBoth : Benchmarking Hartford Healthcare 401(K) Retirement Plan in Farmington, CT

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Benchmarking Hartford Healthcare 401(K) Retirement Plan in Farmington, CT against

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Hartford Healthcare 401(K) Retirement Plan in Farmington, CT has the lowest average account balance ($55,276) of the 399 plans with as high an average employer cash contribution per active participant ($4,934).

That is, among those 399 plans that do well or OK on one measure, Hartford Healthcare 401(K) Retirement Plan does least well on a related measure. That $55,276 compares to an average of $219,829 across those 399 plans.

Reaching the average of $219,829 would imply an extra $5,306,997,760 in total assets.

Note: average account balance = total assets ÷ total participants

Hartford Healthcare 401(K) Retirement Plan has these standings among those 399 peer plans:

average account balance = $55,276 (the lowest)

total assets = $1,782,723,216 (163rd-least)

total participants = 32,251 (77th-most)

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Peers

trailed Peraton Corp. Retirement Savings Plan in Reston, VA ($65,355), SS&C Technologies, Inc. 401(K) Retirement Savings Plan in Windsor, CT ($77,633), Consumers Energy Company Employees' Savings Plan in Jackson, MI ($80,340), and Intuit Inc. 401(K) Plan in Mountain View, CA ($81,533), and 394 others, ending with Performance Contracting Group, Inc. ESOP/401(K) Plan in Lenexa, KS ($1,310,768).

Taking Action

Read the article A Unique Way to Get Others to Improve to understand the reasoning underlying such benchmarking insights.

References

average account balance. Higher values are better. Average account balance equals total assets, in Line 1f(b) from Schedule H, divided by total participants, in Line 6f of Form 5500. Except where noted, all data come from the 25-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.
average employer cash contribution per active participant. Higher values are better. Average employer cash contribution per active participant equals cash contributions from employers, Line 2a(1)(A) from Schedule H, divided by active participants at the end of the plan year, Line 6a(2), Form 5500. Except where noted, all data come from the 25-July-2024 updates to the year-2022 5500 Forms and Schedule H from the public websites at the Department of Labor, Employee Benefits Security Administration.

Profile

Hartford Healthcare 401(K) Retirement Plan in Farmington, CT is in Connecticut, its EIN is 222672834, its industry group is Hospitals, is a profit-sharing plan, covered by a fidelity bond, an ERISA section 404(c) plan, self-administered by the plan sponsor, provides for automatic enrollment, is a single-employer plan, its business code is 622000, has 25,000 or more total participants, is better than the overall plan medians in each of total income, net income, corrective distributions, and yield on beginning-of-plan-year total assets (4 total), is worse than the overall participant averages in each of average account balance, active-participant contributions per head, and employer contributions per active participant, and is higher than the overall administrative medians in each of investment advisory and management fees, other administrative expenses, total administrative expenses, and total administrative expense ratio.

Numeric values:

total assets at beginning of plan year ($1,872,874,039)
total assets ($1,782,723,216)
net assets (assets minus liabilities) ($1.783B)
value of interest in registered investment companies (e.g., mutual funds) ($1.653B)
total contributions ($320,795,883)
cash contributions from participants ($169,399,078)
cash contributions from employers ($128,597,531)
total expenses ($112,805,316)
value of funds held in insurance company general account (unallocated contracts) ($58,616,761)
receivables employer contributions ($39,761,423)
participant loans ($25,494,844)
total income ($23,148,207)
receivables participant contributions ($5,730,347)
total administrative expenses ($2,284,992)
other administrative expenses ($1,874,831)
asset transfers from the plan ($493,714)
investment advisory and management fees ($410,161)
average account balance ($55,276)
average employer+participant cash contribution per active participant ($11,433)
average participant cash contribution per active participant ($6,499)
average employer cash contribution per active participant ($4,934)
total administrative expense per participant ($70.85)
total noninterest-bearing cash ($0)
other receivables (not employer nor participant contributions) ($0)
interest-bearing cash (e.g., money market accounts, certificates of deposit) ($0)
U.S. government securities ($0.0K)
corporate debt instruments (preferred & other than employer securities) ($0)
corporate debt instruments (below preferred & other than employer securities) ($0)
corporate preferred stocks (other than employer securities) ($0)
corporate common stocks (other than employer securities) ($0)
partnership/joint venture interests ($0)
real estate (other than employer real property) ($0)
loans (other than to participants) ($0)
value of interest in common/collective trusts ($0)
value of interest in pooled separate accounts ($0)
value of interest in master trust investment accounts ($0.0K)
value of interest in 103-12 investment entities ($0)
other general investments ($0)
employer-related securities investments ($0)
employer-related real-property investments ($0)
buildings and other property used in plan operation ($0)
corrective distributions ($0)
professional fees ($0)
contract administrator fees ($0)
asset transfers to the plan ($0)
net income per total participant (-$2,780)
net income (-$89,657,109)
earnings on investments (-$297,647,676)
net earnings on investments (-$298,057,837)
percentage of active participants (80.8%)
diversity of asset types (10.9%)
participant loans as a percentage of plan assets (1.43%)
total administrative expense ratio (0.130%)
total cash as a percentage of plan assets (0.00%)
employer securities as a percentage of plan assets (0.00%)
growth in total assets during the plan year (-4.8%)
yield on beginning-of-plan-year total assets (-15.91%)
active participants (26,064)
deceased participants whose beneficiaries receive or are entitled to benefits (61)
living participants (32,190)
other retired or separated participants entitled to future benefits (6,035)
retired or separated participants receiving benefits (91)
total participants (32,251)

Global References

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	in region
	in state
	average account balance
	other administrative expenses
	total administrative expenses
	diversity of asset types
	total administrative expense ratio
	whose economic sector is
	provide for automatic enrollment, or not
	average employer cash contribution per active participant
	average participant cash contribution per active participant
	are higher than the overall administrative medians in

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Benchmarking Hartford Healthcare 401(K) Retirement Plan in Farmington, CT against

most-similar plans

a group of plans you select