Home   >   Albert Lea Medical Center Money Purchase Plan  >  Form 5500
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Company:
Albert Lea Medical Center-Mayo Health System

Plan:
Albert Lea Medical Center Money Purchase Plan
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Plan Information
Plan Year 01/01/2010 — 12/31/2010
Effective Date of Plan 01/01/1974
Net Assets as of 12/31/2010 $60,121,718
Plan Number 1
Plan Type Single Employer
Is the plan collectively bargained? Yes
Did the plan file for an extension of time or the DFVC Program? Yes
Plan Funding Arrangement Trust
Plan Benefit Arrangement Trust

Participant Information as of 12/31/2010
Active (Eligible) Participants 1,341
Retired or separated participants receiving benefits 45
Other retired or separated participants entitled to future benefits 160
Subtotal 1,546
Deceased participants whose beneficiaries are receiving or are entitled to receive benefits 0
Total 1,546
Total number of participants as of 01/01/2010 1,547
Number of participants with account balances 1,366
Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested 27

Plan Sponsor Information
Address 404 West Fountain Street
Albert Lea, MN 56007
Telephone (507) 373-2384
EIN 41-1404075
Industry Code 622000
Named Administrator Monica Fleegel

Plan Administrator Information
Administrator Name Albert Lea Medical Center -Mayo Health System
Address 404 West Fountain Street
Albert Lea, MN 56007
Telephone (507) 373-2384
Administrator EIN 41-1404075

Audit Information
Audit Status Audited
Auditor Mcgladrey & Pullen, LLP
Auditor EIN 42-0714325
Audit Opinion Disclaimer
Audit Type Limited Scope Audit

Benefits Provided Under the Plan
Code Benefit Description
2C Money purchase A pension plan, other than a target benefit plan that requires a fixed percentage of compensation to be contributed to each eligible employee.
2D Offset plan Plan benefits are subject to offset for retirement benefits provided in another plan or arrangement of the employer.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

  Question Answer Amount
1. During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No  
2. Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No  
3. Were any leases to which the plan was a party in default or classified during the year as uncollectible? No  
4. Were there any nonexempt transactions with any party-in-interest? No  
5. Was this plan covered by a fidelity bond? Yes $5,000,000
6. Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No  
7. Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No  
8. Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No  
9. Did the plan have assets held for investment? Yes  
10. Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No  
11. Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No  
12. Has the plan failed to provide any benefit when due under the plan? No  
13. If this is an individual account plan, was there a blackout period? No  
14. If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No