Defined Benefit (Pension) · DOL Form 5500 · 2023

Covenant Healthcare System Pension Plan

Data updated 2026-08-25

$19M
Total assets Small plan by assets
43
Participants Small participant base
72nd
Percentile by assets National rank
$443,529
Avg per participant High balance/head
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Official DOL plan name: Saginaw Medical Center Pension Plan · Sponsored by Covenant Healthcare System · Michigan · Healthcare & Social Assistance

$19M in assets, 43 participants

Covenant Healthcare System's Saginaw Medical Center Pension Plan reported $19M in total assets and 43 participants in its 2023 DOL Form 5500 filing, ranking in the 72nd percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #13,490 in Healthcare & Social Assistance (17,684 peers)

What the 2023 filing shows

Saginaw Medical Center Pension Plan holds $19M for 43 participants - about $443,529 per participant, above the median plan by assets.

#13,490
in Healthcare & Social Assistance (17,684 peers)
-3.1%
assets change YoY

The plan reported a net loss of $619K for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Saginaw Medical Center Pension Plan's outsized position by total assets

Saginaw Medical Center Pension Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$19,071,733 Top 28% higher than 72% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Saginaw Medical Center Pension Plan among smaller filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Saginaw Medical Center Pension Plan is a small filing (43 participants) on this national headcount ladder.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Saginaw Medical Center Pension Plan reported net income rose from -$5M in the plan year 2022 filing to -$619K in the plan year 2023 filing.
  • Saginaw Medical Center Pension Plan reported participants fell from 46 in the plan year 2022 filing to 43 in the plan year 2023 filing.
  • Saginaw Medical Center Pension Plan end-of-year assets fell from $20M in the plan year 2022 filing to $19M in the plan year 2023 filing.

See the national 2022→2023 release diff →

DOL schedule card

Filing strip 383369438 · Covenant Healthcare System PY 2023 · Defined Benefit (Pension)

Saginaw Medical Center Pension Plan · $19M · 43 · 72nd

  • PHOTO $19M
  • PHOTO 43
  • PHOTO 72nd
  • PHOTO Defined Benefit (Pension)
  • PHOTO near Financial Accounting Foundation Employees' Pension Plan
  • PHOTO ind #13490

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Healthcare & Social Assistance retirement plans → · Plans in Michigan →

Saginaw Medical Center Pension Plan in the asset neighbourhood

Mutual of Enumclaw Insurance Company Retirement PlanMutual of Enumclaw Insurance…$19MThe Retirement Plan of Flushing BankThe Retirement Plan of Flush…$19MSaginaw Medical Center Pension PlanSaginaw Medical Center Pensi…$19MFinancial Accounting Foundation Employees' Pension PlanFinancial Accounting Foundat…$19MThe Retirement Plan of Rhinebeck Savings BankThe Retirement Plan of Rhine…$19M
End-of-year total assets ($M) among Saginaw Medical Center Pension Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

Filing particulars (2023)

Total Assets (Beginning of Year)$20M
Net Assets (End of Year)$19M
Net Income-$619K
Employer EIN383369438
Plan Effective Date1978-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Covenant Healthcare System)

Sponsor-wide plan assets over time

All Covenant Healthcare System plans reported in each filing year

Latest sponsor-wide plan assets
$18M 9.843055325894902% vs 2022
2024 filing year
$17M$18M$19M$20M 202220232024 $19.7M $17.8M ▼ -9.9%
Year Plans Participants Total Assets
2022 1 46 $20M
2023 1 43 $19M
2024 1 36 $18M

Nearby Defined Benefit (Pension) Plans in Michigan

Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.

Saginaw Medical Center Pension Plan vs. nearby Defined Benefit (Pension) plans in Michigan, assets vs. participants Scatter plot of 6 data points. -100000100002000030000 -1001020304050 Total assets ($B) Participants Saginaw Medical Center Pension Plan, Total assets ($B): 0.019071733 · Participants: 43Saginaw Medical Center Pension PlanGeneral Motors Hourly-Rate Employees Pension Plan, Total assets ($B): 44.838918802 · Participants: 17959General Motors Hourly-Rate Employees Pension PlanFord Motor Company UAW Retirement Plan, Total assets ($B): 19.269442236 · Participants: 26442Ford Motor Company UAW Retirement PlanFord Motor Company General Retirement Plan, Total assets ($B): 12.705910161 · Participants: 10215Ford Motor Company General Retirement PlanDow Employees' Pension Plan, Total assets ($B): 11.529460215 · Participants: 14051Dow Employees' Pension PlanFca US LLC UAW Pension Agreement, Total assets ($B): 11.155705594 · Participants: 13635Fca US LLC UAW Pension Agreement
Saginaw Medical Center Pension Plan vs. nearby Defined Benefit (Pension) plans in Michigan, assets vs. participants
Compare Saginaw Medical Center Pension Plan side-by-side with 3 peers →

Saginaw Medical Center Pension Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside Michigan, the nearest Defined Benefit (Pension) by assets is Financial Accounting Foundation Employees' Pension Plan in CT ($19M); by covered participants it is Unholtz-Dickie Corporation Retirement Plan in CT (43 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (43 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Saginaw Medical Center Pension Plan assets move in 2023? ▼
Saginaw Medical Center Pension Plan edged down modestly - down 3.1% during 2023, from $20M to $19M. Reported net income was -$619K.
How have Covenant Healthcare System plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Covenant Healthcare System's sponsor-wide assets declined 9.8%, from $20M to $18M.
Which Defined Benefit (Pension) plans are similar in size to Saginaw Medical Center Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is Financial Accounting Foundation Employees' Pension Plan in CT ($19M, 39 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Saginaw Medical Center Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Unholtz-Dickie Corporation Retirement Plan in CT (43 participants, $28M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 383369438.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.