Retirement plan

BLUE CROSS AND BLUE SHIELD ASSOCIATION TAX-FAVORED SAVINGS PROGRAM

Name: BLUE CROSS AND BLUE SHIELD ASSOCIATION - BLUE CROSS AND BLUE SHIELD ASSOCIATION TAX-FAVORED SAVINGS PROGRAM (2023) Form 5500
Creator: BLUE CROSS AND BLUE SHIELD ASSOCIATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BLUE CROSS AND BLUE SHIELD ASSOCIATION TAX-FAVORED SAVINGS PROGRAM, BLUE CROSS AND BLUE SHIELD ASSOCIATION

BLUE CROSS AND BLUE SHIELD ASSOCIATIONEIN 13-5656874Plan #002PY 2023

200 EAST RANDOLPH, SUITE 1800 - CHICAGO, IL 606016400312-297-6000

Other plans on this EIN

1 filing

#001Retirement-$218.9M assets

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed April 16, 2021 (most recent of 2 filings on file)

Plan administrator

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225 North Michigan Avenue

Chicago, IL 60601

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Plans declared (1)

Executive 457(f) Plan1 emp

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Total assets (EOY)

$424.9M

+20.8% from 2022

Total participants

1,833

+0.5% from 2022

Average account balance

$235,951

+21.0% from 2022

Annual return

21.73%

+38.50 pp from 2022

Benchmarks

See 929 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants1,000-4,999

Cohort929 peers

Snapshot2023

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Analytics

Total assets (EOY)

Plan-year ending balance

$479.82M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$260K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

1,845

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

98.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$31.33M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$26K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+15.98%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$164

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
FINANCIAL ENGINES9+ years Service code 27 · EIN 94-3250323	Advisory (Plan)	$238,868
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 25 · EIN 04-2647786	Directed Trustee	$92,720
ADP BROKER-DEALER1 year Filed as: ADP, INC. Service code 16 PO BOX 842875 · BOSTON, MA 022842875	Consulting	$12,950
WEALTH MANAGEMENT SYSTEMS INC5 years Service code 49 · EIN 22-3734996	Other Services	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2R2S2T3F3J

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
3J
U.S.-based Puerto Rico dual-qualified plan
U.S.-based plan that covers residents of Puerto Rico and is qualified under both Code section 401 and section 1165 of the Internal Revenue Code of Puerto Rico.

Opportunity flags

1 tripped

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

Expense breakdown

Schedule H Part II

Admin total

$344K

$278 / participant

Recordkeeping$92K26.7%
Investment mgmt$239K69.5%
Other / not subdivided$13K3.8%

% of EOY assets

0.081%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: KPMG
Auditor EIN: 135565207
Audit fees: $0
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$235,951

$107,459+119.6%

$135,903+73.6%

$80,160+194.4%

Participation rate

97.4%

78.0%+19.4pp

81.9%+15.5pp

72.9%+24.5pp

Annual return

21.73%

91.91%-70.2pp

68.23%-46.5pp

40.38%-18.7pp

Employer contribution / active EE

$10,151

$3,877+161.8%

$4,856+109.0%

$2,978+240.9%

Participant deferral / active EE

$13,777

$8,195+68.1%

$7,758+77.6%

$5,017+174.6%

Admin fee / account holder

$191

$127+50.3%

$10,762-98.2%

$145+31.7%

Provider

Service type

Compensation

FINANCIAL ENGINES9+ years

Service code 27 · EIN 94-3250323

Advisory (Plan)

$238,868

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 25 · EIN 04-2647786

Directed Trustee

$92,720

ADP BROKER-DEALER1 year

Filed as: ADP, INC.

Service code 16

PO BOX 842875 · BOSTON, MA 022842875

Consulting

$12,950

WEALTH MANAGEMENT SYSTEMS INC5 years

Service code 49 · EIN 22-3734996

Other Services

BLUE CROSS AND BLUE SHIELD ASSOCIATION TAX-FAVORED SAVINGS PROGRAM

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BLUE CROSS AND BLUE SHIELD ASSOCIATION TAX-FAVORED SAVINGS PROGRAM

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion