PlanOptica
Retirement plan

PROVIDENCE HEALTH & SERVICES 403(B) VALUE PLAN

PROVIDENCE HEALTH & SERVICESEIN 51-0216586Plan #002PY 2020
Sign in to saveView 5500 PDF
2001 LIND AVE SW - RENTON, WA 98057888-687-3753LinkedIn10001+ employeeshospital & health care
Other plans on this EIN
2 filings
#010Retirement-$4.39B assets#007Retirement-$54.9M assets
Prospect flagsHigh feesLow participationHigh assets / participantLow participant contributionCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(888) 687-3753
Plan administrator signer
REBECCA BROWN
Signed 03/23/2022
How to read this page

Summary metrics

Total assets (EOY)
$7215.9M
-13.5% from 2016
Total participants
75,623
-4.0% from 2016
Average account balance
$711,835
-13.1% from 2016
Annual return
19.76%
-5.97 pp from 2016

Benchmarks

See 228 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants>=10,000
Cohort228 peers
Snapshot2020
Participant deferral / active EE
$1,464
median $3,786
Employer contribution / active EE
$357
median $1,365
Participation rate
0.0%
median 83.8%
Avg account balance
$711,835
median $58,490
Admin fee / account holder
$457
median $46
Annual return
19.76%
median 16.84%
Overall peer rank
36th 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
ProviderService typeCompensation
SEVEN SIMPLE MACHINES6+ years
Service code 15 · EIN 20-4028622
Recordkeeping
$658,466
STRATEGIC ADVISORS, INC.3 years
Service code 27 · EIN 04-2654524
Advisory (Plan)
$603,258
MILLIMAN INC.1 year
Service code 16 · EIN 91-0675641
Consulting
$183,534
MERCER (US) INC.1 year
Service code 16 · EIN 13-2834414
Consulting
$175,714
KPMG LLP6+ years
Service code 10 · EIN 13-5565207
Accounting
$46,500

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
Email— Sign in and upgrade to viewPhone— Sign in and upgrade to view

Plans declared (1)

  • Providence Health & Services Executive Strategic Initiatives Plan125 emp
Open the filing PDF

Plan features & details

Pension benefit codes2F2G2J2K2E2R2S2T3H
Plan features
  • 2E
    Profit-sharing
    Profit-sharing plan.
  • 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 (shifting investment responsibility to participants).
  • 2G
    Total participant-directed account plan
    Participants 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.
  • 2J
    Code section 401(k) feature
    Cash 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.
  • 2K
    Code section 401(m) arrangement
    Employee 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.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 2S
    Automatic enrollment
    Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

5 tripped
  • OpportunityLow participation

    Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

  • OpportunityLow participant contribution

    Participant contribution per participant is in the bottom quintile of the peer cohort.

  • OpportunityHigh fees

    Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

  • ComplianceCorrective distributions

    Plan reported corrective distributions (failed ADP/ACP testing).

  • InformationalHigh assets / participant

    Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II
Admin total
$4.6M
$71 / participant
  • Other / not subdivided$5M100.0%
% of EOY assets
0.064%
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