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Retirement plan

RIVERSIDE HEALTH SYSTEM 403(B) RETIREMENT PLAN

RIVERSIDE MANAGEMENT SERVICES, INC.EIN 52-1241840Plan #004PY 2020
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12420 WARWICK BLVD., BLDG 6, SUITE 6G - NEWPORT NEWS, VA 236063001757-534-5544
Other plans on this EIN
2 filings
#001Retirement-$630.1M assets#002Retirement-$255.2M assets
Prospect flagsLow participationLow employer contributionCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor & administrator signer
JAIME COOK
Signed 10/13/2021
(757) 534-5544
How to read this page

Summary metrics

Total assets (EOY)
$307.5M
-20.4% from 2016
Total participants
11,642
+3.2% from 2016
Average account balance
$38,419
-14.8% from 2016
Annual return
19.88%
-4.31 pp from 2016

Benchmarks

See 223 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants5,000-9,999
Cohort223 peers
Snapshot2020
Participant deferral / active EE
$3,399
median $3,401
Employer contribution / active EE
$72
median $1,441
Participation rate
61.2%
median 85.9%
Avg account balance
$38,419
median $52,876
Admin fee / account holder
$70
median $49
Annual return
19.88%
median 16.21%
Overall peer rank
39th 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 6 by compensation
ProviderService typeCompensation
PRINCIPAL LIFE INSURANCE COMPANY2 years
Service code 13 · EIN 42-0127290
Contract Administrator
$514,227
LOCKTON1 year
Service code 27 · EIN 20-8874282
Advisory (Plan)
$18,751
WILCOX SAVAGE1 year
Service code 27 · EIN 54-0976999
Advisory (Plan)
$10,745
MERCER6+ years
Service code 16 · EIN 61-0736136
Consulting
$9,000
TRANSAMERICA RETIREMENT SOLUTIONS6+ years
Service code 15 · EIN 13-3689044
Recordkeeping
$3,805
TAYLORED PRINTING1 year
Service code 36
234 REDOUBT ROAD · YORKTOWN, VA 236924894
Direct payment from the plan; Copying...
$2,268

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 participation

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

  • OpportunityLow employer contribution

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

  • ComplianceCorrective distributions

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

Expense breakdown

Schedule H Part II
Admin total
$559K
$60 / participant
  • Investment mgmt$18K3.3%
  • Contract admin$526K94.2%
  • Other / not subdivided$14K2.6%
% of EOY assets
0.182%
all-in expense ratio
Categories reported
2 / 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
HANTZMON WIEBEL, LLP
Auditor EIN
540618213
Audit fees
(not subdivided)
Opinion code
Disclaimer