Retirement plan
PROVIDENCE HEALTH & SERVICES 403(B) VALUE PLAN
PROVIDENCE HEALTH & SERVICESEIN 51-0216586Plan #002PY 2019
Other plans on this EIN
2 filingsProspect flagsCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
REBECCA BROWN
Signed 03/23/2022
Summary metrics
Total assets (EOY)
$6446.6M
-13.5% from 2016
Total participants
97,247
-4.0% from 2016
Average account balance
$67,254
-13.1% from 2016
Annual return
23.97%
-5.97 pp from 2016
Benchmarks
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort230 peers
Snapshot2019
85
Participant deferral / active EE
$6,230
median $3,454
43
Employer contribution / active EE
$1,522
median $1,544
88
Participation rate
98.0%
median 83.1%
74
Avg account balance
$67,254
median $50,526
31
Admin fee / account holder
$63
median $44
64
Annual return
23.97%
median 22.63%
Overall peer rank
64of 100
64th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$6.55B
Average account balance
Total assets / participants with a balance (line 6g)
$109K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
60,131
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
99.8%
Contributions (total)
Employer and participant dollars contributed each year
$9.67M
Contributions per participant
Average employer and participant contribution per enrolled participant
$183
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+15.28%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$31
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 5 by compensation
| Provider | Service type | Compensation |
|---|---|---|
SEVEN SIMPLE MACHINES5+ years Service code 15 · EIN 20-4028622 5429 RUSSELL AVE NW · SEATTLE, WA 98107 | Recordkeeping | $541,541 |
MILLIMAN, INC1 year Service code 11 · EIN 91-0675641 1455 SW BROADWAY STREET · PORTLAND, OR 97201 | Actuarial | $442,993 |
STRATEGIC ADVISORS, INC.2 years Service code 27 · EIN 04-2654524 | Advisory (Plan) | $370,623 |
PAVILION ADVISORY GROUP3 years Service code 16 · EIN 04-3831795 227 W. MONROE STREET · CHICAGO, IL 60606 | Consulting | $132,749 |
KPMG LLP5+ years Service code 10 · EIN 13-5565207 DEPT 0922 · DALLAS, TX 75312 | Accounting | $52,150 |
Top hat statement on fileNQDC
Filed July 6, 2015 (most recent of 4 filings on file)
Plan administrator
Plan administrator name— Sign in and upgrade to view
1801 Lind Avenue, SW
Renton State: WA Zip Code: 98057
Plans declared (1)
- Providence Health & Services Executive Strategic Initiatives Plan125 emp
Plan features & details
Pension benefit codes2F2G2J2K2L2R2S2T3H2E
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
- 2JCode section 401(k) featureCash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
- 2KCode section 401(m) arrangementEmployee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
- 2LCode section 403(b)(1) arrangementPlan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
- 2RParticipant-directed brokerage accountsParticipant-directed brokerage accounts provided as an investment option under the plan.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
1 tripped
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
Expense breakdown
Schedule H Part II
Admin total
$6.0M
$85 / participant
- Other / not subdivided$6M100.0%
% of EOY assets
0.093%
all-in expense ratio
Categories reported
0 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Disclaimer opinion
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
- Auditor firm
- KPMG LLP
- Auditor EIN
- 135565207
- Audit fees
- (not subdivided)
- Opinion code
- Disclaimer