Defined Benefit (Pension) · DOL Form 5500 · 2024
Covenant Healthcare System Pension Plan
Data updated 2026-08-11
- $18M
- Total assets
- 36
- Participants
- 68th
- Percentile by assets
- $493,131
- Avg per participant
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.
- 68th percentile by assets (of 123,622 plans)
- #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.
- $18M
- total plan assets (2024 EOY)
- 36
- covered participants
- 68th
- percentile by assets (of 123,622 plans)
- $493,131
- avg assets per participant
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.
Where Saginaw Medical Center Pension Plan sits 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
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2024
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.
Defined Benefit (Pension) filing for Saginaw Medical Center Pension Plan
Defined Benefit (Pension) filing for plan year 2024: EIN 383369438 ; effective since 1978-01-01 ; filing status FILING RECEIVED. Verify the certified figures on DOL EFAST2.
Filing particulars (2024)
| Total Assets (Beginning of Year) | $19M |
|---|---|
| Net Assets (End of Year) | $18M |
| Net Income | -$1M |
| Employer EIN | 383369438 |
| Plan Effective Date | 1978-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Covenant Healthcare System)
| 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
- General Motors Hourly-Rate Employees Pension Plan $42.5B · 15,648
- Ford Motor Company UAW Retirement Plan $17.8B · 25,742
- Ford Motor Company General Retirement Plan $12.1B · 8,585
- Dow Employees' Pension Plan $10.9B · 6,888
- Fca US LLC UAW Pension Agreement $10.3B · 12,752
Similar-Sized Defined Benefit (Pension) Plans Nationally
Defined Benefit (Pension) plans in other states closest to Saginaw Medical Center Pension Plan by total assets, not by location.
Frequently Asked Questions
How did Saginaw Medical Center Pension Plan assets move in 2024? ▼
How have Covenant Healthcare System plan assets changed over time? ▼
Which Defined Benefit (Pension) plans are similar in size to Saginaw Medical Center Pension Plan? ▼
Next read for Saginaw Medical Center Pension Plan
Filing takeaways
Ways to act on Saginaw Medical Center Pension Plan's numbers.
- By total assets, Saginaw Medical Center Pension Plan ranks above the median plan by assets. See the largest plans
- Compare it side-by-side against 3 similar Defined Benefit (Pension) plans in Michigan. Compare plans
- Covenant Healthcare System's sponsor-wide assets have declined 9.8% since 2022 across 3 plan years on file. More Healthcare & Social Assistance plans