Retirement plan
VALLEY HEALTH SYSTEM EMPLOYEE CONTRIBUTORY 403(B) PLAN
VALLEY HEALTH SYSTEMEIN 52-1357729Plan #002PY 2017
333 WEST CORK STREET, SUITE 140 - WINCHESTER, VA 226015228540-536-5311valleyhealthlink.comLinkedIn5001-10000 employeeshospital & health care
Other plans on this EIN
1 filingProspect flagsLow returnsCorrective distributions
Filing contacts
From the Form 5500, federal recordPlan administrator signer
PETER F. GALLAGHER
Signed 10/12/2018
Summary metrics
Total assets (EOY)
$292.6M
-11.6% from 2016
Total participants
7,218
+11.8% from 2016
Average account balance
$44,893
-19.0% from 2016
Annual return
14.10%
-7.87 pp from 2016
Benchmarks
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants5,000-9,999
Cohort231 peers
Snapshot2017
43
Participant deferral / active EE
$2,525
median $2,750
52
Employer contribution / active EE
$1,893
median $1,397
57
Participation rate
88.2%
median 83.7%
58
Avg account balance
$44,893
median $39,423
70
Admin fee / account holder
$18
median $40
12
Annual return
14.10%
median 17.88%
Overall peer rank
48of 100
48th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$541.98M
Average account balance
Total assets / participants with a balance (line 6g)
$57K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
9,530
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
94.1%
Contributions (total)
Employer and participant dollars contributed each year
$42.05M
Contributions per participant
Average employer and participant contribution per enrolled participant
$7K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+12.11%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$53
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 4 by compensation
| Provider | Service type | Compensation |
|---|---|---|
LINCOLN NATIONAL CORPORATION3+ years Service code 13 · EIN 35-1140070 | Contract Administrator | $67,953 |
Service code 27 · EIN 26-0058143 | Advisory (Plan) | $25,000 |
Service code 13 · EIN 74-1625348 | Contract Administrator | $11,605 |
Service code 10 · EIN 54-1149263 | Accounting | $10,800 |
Top hat statement on fileNQDC
Filed August 20, 2019 (most recent of 8 filings on file)
Plan administrator
Plan administrator name— Sign in and upgrade to view
220 Campus Boulevard, Suite 420
Winchester, VA 22601
Plans declared (3)
- Enhanced Severance Agreement1 emp
- Enhanced Severance Agreement1 emp
- Enhanced Severance Agreement1 emp
Total covered: 3 employees
Plan features & details
Pension benefit codes2F2G2L2M2T2A
Plan features
- 2AAge/service weighted or new comparability planAge/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
- 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.
- 2LCode section 403(b)(1) arrangementPlan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
- 2MCode section 403(b)(7) accountsPlan uses Code section 403(b)(7) custodial accounts as a funding vehicle.
- 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.
Opportunity flags
2 tripped
- OpportunityLow returns
Annual investment return 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
$115K
$19 / participant
- Investment mgmt$36K31.0%
- Contract admin$80K69.0%
% of EOY assets
0.039%
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
- YOUNT, HYDE, & BARBOUR, PC
- Auditor EIN
- 541149263
- Audit fees
- (not subdivided)
- Opinion code
- Disclaimer