Defined Benefit (Pension) · DOL Form 5500 · 2024

Covenant Healthcare System Pension Plan

Data updated 2026-08-25

$18M
Total assets Small plan by assets
36
Participants Small participant base
68th
Percentile by assets National rank
$493,131
Avg per participant High balance/head
PlainRetire home → About this data RSS: change history

Official DOL plan name: Saginaw Medical Center Pension Plan · Sponsored by Covenant Healthcare System · Michigan · Healthcare & Social Assistance

$18M in assets, 36 participants

Covenant Healthcare System's Saginaw Medical Center Pension Plan reported $18M in total assets and 36 participants in its 2024 DOL Form 5500 filing, ranking in the 68th 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.

  • #12,302 in Healthcare & Social Assistance (16,916 peers)

What the 2024 filing shows

Saginaw Medical Center Pension Plan holds $18M for 36 participants - about $493,131 per participant, above the median plan by assets.

#12,302
in Healthcare & Social Assistance (16,916 peers)
-6.9%
assets change YoY

The plan reported a net loss of $1M 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 2024 · DOL Form 5500

$17,752,703 Top 32% higher than 68% of 123,620 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 2024

Saginaw Medical Center Pension Plan among smaller filed plans by headcount

Plan-year 2024 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Saginaw Medical Center Pension Plan is a small filing (36 participants) on this national headcount ladder.

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Saginaw Medical Center Pension Plan reported net income fell from -$619K in the plan year 2023 filing to -$1M in the plan year 2024 filing.
  • Saginaw Medical Center Pension Plan reported participants fell from 43 in the plan year 2023 filing to 36 in the plan year 2024 filing.
  • Saginaw Medical Center Pension Plan end-of-year assets fell from $19M in the plan year 2023 filing to $18M in the plan year 2024 filing.

See the national 2023→2024 release diff →

Plan-year Form 5500 strip

Filing strip 383369438 · Covenant Healthcare System PY 2024 · Defined Benefit (Pension)

Saginaw Medical Center Pension Plan · $18M · 36 · 68th

  • PART $18M
  • TYPE 36
  • NET 68th
  • BOOK Defined Benefit (Pension)
  • VS-ST near Ridley USA Inc Hourly Pension Plan
  • BOY ind #12302

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

Pension Plan for the Staff of the Ct Laborers FundPension Plan for the Staff o…$18MRidley USA Inc Hourly Pension PlanRidley USA Inc Hourly Pensio…$18MSaginaw Medical Center Pension PlanSaginaw Medical Center Pensi…$18MThe Gradall Company Employees' Retirement PlanThe Gradall Company Employee…$18MPension Plan of Metallurg, Inc.Pension Plan of Metallurg, I…$18M
End-of-year total assets ($M) among Saginaw Medical Center Pension Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2024.

Filing particulars (2024)

Total Assets (Beginning of Year)$19M
Net Assets (End of Year)$18M
Net Income-$1M
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): 0.017752703 · Participants: 36Saginaw Medical Center Pension PlanGeneral Motors Hourly-Rate Employees Pension Plan, Total assets ($B): 42.453822995 · Participants: 15648General Motors Hourly-Rate Employees Pension PlanFord Motor Company UAW Retirement Plan, Total assets ($B): 17.842898898 · Participants: 25742Ford Motor Company UAW Retirement PlanFord Motor Company General Retirement Plan, Total assets ($B): 12.116125366 · Participants: 8585Ford Motor Company General Retirement PlanDow Employees' Pension Plan, Total assets ($B): 10.930410978 · Participants: 6888Dow Employees' Pension PlanFca US LLC UAW Pension Agreement, Total assets ($B): 10.255300049 · Participants: 12752Fca 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 Ridley USA Inc Hourly Pension Plan in MN ($18M); by covered participants it is Defined Benefit Plan for Employees of Epic in IL (36 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (36 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. 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 2024? ▼
Saginaw Medical Center Pension Plan pulled back noticeably - down 6.9% during 2024, from $19M to $18M. Reported net income was -$1M.
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 Ridley USA Inc Hourly Pension Plan in MN ($18M, 62 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 Defined Benefit Plan for Employees of Epic in IL (36 participants, $9M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

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.