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Retirement plan

RIVERSIDE HEALTH SYSTEM 403(B) RETIREMENT PLAN

RIVERSIDE MANAGEMENT SERVICES, INC.EIN 52-1241840Plan #004PY 2018
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12420 WARWICK BLVD, BUILDING 6, SUITE 6B - NEWPORT NEWS, VA 23606757-534-5544
Other plans on this EIN
2 filings
#001Retirement-$457.3M assets#002Retirement-$179.0M assets
Prospect flagsLow employer contributionFailed to transmit contributionsCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(757) 534-5544
Plan administrator signer
JAIME COOK
Signed 10/11/2019
How to read this page

Summary metrics

Total assets (EOY)
$187.8M
-20.4% from 2016
Total participants
10,693
+3.2% from 2016
Average account balance
$23,288
-14.8% from 2016
Annual return
-4.43%
-4.31 pp from 2016

Benchmarks

See 232 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants5,000-9,999
Cohort232 peers
Snapshot2018
Participant deferral / active EE
$3,032
median $2,876
Employer contribution / active EE
$65
median $1,293
Participation rate
70.4%
median 80.3%
Avg account balance
$23,288
median $35,476
Admin fee / account holder
$86
median $48
Annual return
-4.43%
median -4.49%
Overall peer rank
35th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$463.16M
Average account balance
Total assets / participants with a balance (line 6g)
$54K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
8,595
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
57.6%
Contributions (total)
Employer and participant dollars contributed each year
$45.19M
Contributions per participant
Average employer and participant contribution per enrolled participant
$4K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+14.61%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$72
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 8 by compensation
ProviderService typeCompensation
TRANSAMERICA RETIREMENT SOLUTIONS4+ years
Service code 12 · EIN 13-3689044
Participant loan processing; Float re...
$619,672
MERCER4+ years
Service code 16 · EIN 61-0736136
Consulting
$69,852
NATIONWIDE4+ years
Service code 13 · EIN 31-4156830
Contract Administrator
$8,180
CHARLES SCHWAB & CO, INC.4+ years
Service code 33 · EIN 94-1737782
Securities brokerage; Securities brok...
$230
VARIABLE ANNUITY LIFE INSURANCE CO.4+ years
Service code 13 · EIN 31-4156830
Contract Administrator
$150
LINCOLN NATIONAL CORPORATION4+ years
Service code 13 · EIN 35-1140070
Contract Administrator
$50
CHARLES SCHWAB & CO., INC.4+ years
Service code 33
Securities brokerage; Securities brok...
$0
NATIONAL FINANCIAL SERVICES4+ years
Service code 33 · EIN 04-3523567
Securities brokerage; Securities brok...
$0

Top hat statement on fileNQDC

Filed November 29, 2005

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

Open the filing PDF

Plan features & details

Pension benefit codes2F2G2K2L2M2R2T3D3H
Plan features
  • 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.
  • 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.
  • 2L
    Code section 403(b)(1) arrangement
    Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
  • 2M
    Code section 403(b)(7) accounts
    Plan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
  • 2R
    Participant-directed brokerage accounts
    Participant-directed brokerage accounts provided as an investment option under the plan.
  • 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.
  • 3D
    Pre-approved pension plan
    A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
  • 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

3 tripped
  • OpportunityLow employer contribution

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

  • ComplianceFailed to transmit contributions

    Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

  • ComplianceCorrective distributions

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

Expense breakdown

Schedule H Part II
Admin total
$690K
$78 / participant
  • Investment mgmt$70K10.1%
  • Other / not subdivided$620K89.9%
% of EOY assets
0.367%
all-in expense ratio
Categories reported
1 / 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
DIXON HUGHES GOODMAN LLP
Auditor EIN
560747981
Audit fees
(not subdivided)
Opinion code
Disclaimer