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Retirement plan

VALLEY HEALTH SYSTEM EMPLOYEE CONTRIBUTORY 403(B) PLAN

VALLEY HEALTH SYSTEMEIN 52-1357729Plan #002PY 2023
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333 WEST CORK STREET, SUITE 140 - WINCHESTER, VA 226015228540-536-5314valleyhealthlink.comLinkedIn5001-10000 employeeshospital & health care
Other plans on this EIN
1 filing
#003Retirement-$292.4M assets
Prospect flagsLow returnsCorrective distributions

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(540) 536-5314
Plan administrator signer
ROBERT M AMOS
Signed 10/15/2024
How to read this page

Summary metrics

Total assets (EOY)
$489.2M
-11.6% from 2016
Total participants
6,976
+11.8% from 2016
Average account balance
$74,180
-19.0% from 2016
Annual return
15.94%
-7.87 pp from 2016

Benchmarks

See 224 peers
Peer group
Industry62 - Health Care and Social Assistance
Plan typeDefined contribution
Participants5,000-9,999
Cohort224 peers
Snapshot2023
Participant deferral / active EE
$3,951
median $3,891
Employer contribution / active EE
$2,470
median $1,822
Participation rate
93.8%
median 84.7%
Avg account balance
$74,180
median $50,688
Admin fee / account holder
$58
median $57
Annual return
15.94%
median 18.52%
Overall peer rank
52nd 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
ProviderService typeCompensation
LINCOLN NATIONAL CORPORATION9+ years
Service code 13 · EIN 35-1140070
Contract Administrator
$366,555
CAPFINANCIAL PARTNERS, LLC6 years
Service code 27 · EIN 26-0058143
Advisory (Plan)
$31,377
BAKER TILLY US, LLP2 years
Service code 13 · EIN 39-0859910
Contract Administrator
$12,000
VARIABLE ANNUITY LIFE INSURANCE CO9+ years
Service code 13 · EIN 74-1625348
Contract Administrator
$205

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

Plans declared (3)

  • Enhanced Severance Agreement1 emp
  • Enhanced Severance Agreement1 emp
  • Enhanced Severance Agreement1 emp

Total covered: 3 employees

Open the filing PDF

Plan features & details

Pension benefit codes2F2G2L2M2T3D2S
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.
  • 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.
  • 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.
  • 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.

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
$385K
$62 / participant
  • Investment mgmt$31K8.2%
  • Contract admin$341K88.7%
  • Other / not subdivided$12K3.1%
% of EOY assets
0.079%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
BAKER TILLY US, LLP
Auditor EIN
390859910
Audit fees
$12,000
Opinion code
Unqualified