Galen Medical Group Employees Retirement Savings Plan — Form 5500 plan (Galen Medical Group Employees)
Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Galen Medical Group Employees Retirement Savings Plan is a benefit plan reported by Galen Medical Group Employees under EIN 62-1508884 and plan number 001. The latest loaded filing year is 2023. The filing reports 607 participants and $55,570,461 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Galen Medical Group Employees
- EIN
- 62-1508884
- Plan number
- 001
- Plan type
- 2
- Location
- Hixson, TN
- Latest filing year
- 2023
- Participants
- 607
- End-of-year plan assets
- $55,570,461
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 607 | H, C | 20241015102315NAL0014394467001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $55,570,461
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $55,570,461
- Net assets (BOY)
- $48,185,520
Income & contributions
- Employer contributions
- $2,507,666
- Participant contributions
- $2,556,998
- Total contributions
- $5,161,044
- Total income / additions
- $12,287,560
Expenses & distributions
- Benefits paid
- $4,777,096
- Administrative expenses
- $125,523
- Total expenses
- $4,902,619
- Net increase / (decrease)
- $7,384,941
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $125,542 | $0 | 2023 |
| Principal Securities Inc | OTHER SERVICES | $0 | $39,952 | 2023 |
| Wilshire Advisors LLC | INVESTMENT ADVISORY | $0 | $0 | 2023 |