Medical Center Employee Benefit

SUMMARY ANNUAL REPORT

For UNIVERSITY OF MARYLAND MEDICAL CENTER MIDTOWN CAMPUS 401(K) PROFIT

SHARING PLAN FOR UNION EMPLOYEES

This is a summary of the annual report Form 5500 Annual Return/Report of Employee Benefit Plan for

UNIVERSITY OF MARYLAND MEDICAL CENTER MIDTOWN CAMPUS 401(K) PROFIT

SHARING PLAN FOR UNION EMPLOYEES, EIN 52-0591667, Plan No. 006, for period January 1,

2023 through December 31, 2023. The Form 5500 annual report has been filed with the Employee

Benefits Security Administration, as required under the Employee Retirement Income Security Act of

1974 (ERISA). Your plan is a single-employer defined contribution plan.

Basic Financial Statement

Benefits under the plan are provided by a trust fund. Plan expenses were $648,173. These expenses

included $27,787 in administrative expenses, and $620,386 in benefits paid to participants and

beneficiaries. A total of 433 persons were participants in or beneficiaries of the plan at the end of the plan

year, although not all of these persons had yet earned the right to receive benefits.

The value of plan assets, after subtracting liabilities of the plan, was $6,907,396 as of December 31, 2023,

compared to $5,811,349 as of January 1, 2023. During the plan year the plan experienced an increase in

its net assets of $1,096,047. This increase includes unrealized appreciation and depreciation in the value

of plan assets; that is, the difference between the value of the plan's assets at the end of the year and the

value of the assets at the beginning of the year or the cost of assets acquired during the year. The plan had

total income of $1,744,220, including employer contributions of $348,759, employee contributions of

$342,379, earnings from investments of $902,497, and other income of $150,585.

Your Rights To Additional Information

You have the right to receive a copy of the full annual report, or any part thereof, on request. The items

listed below are included in that report:

• an accountant's report;

• financial information;

• information on payments to service providers;

• assets held for investment;

To obtain a copy of the full annual report, or any part thereof, write or call the office of MARYLAND

GENERAL HOSPITAL, INC. DBA UMMC MIDTOWN CAMPUS at 920 ELKRIDGE LANDING

ROAD, LINTHICUM, MD 21090, or by telephone at 443-***-****. The charge to cover copying costs

will be $0.00 for the full annual report, or $0.00 per page for any part thereof.

You also have the right to receive from the plan administrator, on request and at no charge, a statement of

the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the

plan and accompanying notes, or both. If you request a copy of the full annual report from the plan

administrator, these two statements and accompanying notes will be included as part of that report. The

charge to cover copying costs given above does not include a charge for the copying of these portions of

the report because these portions are furnished without charge.

You also have the legally protected right to examine the annual report at the main office of the plan

(MARYLAND GENERAL HOSPITAL, INC. DBA UMMC MIDTOWN CAMPUS, 920 ELKRIDGE

LANDING ROAD, LINTHICUM, MD 21090) and at the U.S. Department of Labor in Washington, D.C.,

or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the

Department should be addressed to: Public Disclosure Room, Room N-1513, Employee Benefits Security

Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.

The annual report is also available online at the Department of Labor website www.efast.dol.gov.

OMB Control Number 1210-0040 (expires 03/31/2026)

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