Retirement plan

BLUE CROSS BLUE SHIELD OF MICHIGAN EMPLOYEES' SAVINGS PLAN

Name: BLUE CROSS BLUE SHIELD OF MICHIGAN - BLUE CROSS BLUE SHIELD OF MICHIGAN EMPLOYEES' SAVINGS PLAN (2023) Form 5500
Creator: BLUE CROSS BLUE SHIELD OF MICHIGAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BLUE CROSS BLUE SHIELD OF MICHIGAN EMPLOYEES' SAVINGS PLAN, BLUE CROSS BLUE SHIELD OF MICHIGAN

BLUE CROSS BLUE SHIELD OF MICHIGANEIN 38-2069753Plan #003PY 2023

600 LAFAYETTE EAST, MAIL CODE 1801 - DETROIT, MI 482262998313-225-9000bcbsm.comLinkedIn5001-10000 employeesinsurance

Other plans on this EIN

3 filings

#001Retirement-$914.0M assets #002Retirement-$669.1M assets #004Retirement-$110.5M assets

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$1335.2M

+2.9% from 2016

Total participants

7,848

+10.4% from 2016

Average account balance

$173,470

-7.6% from 2016

Annual return

20.28%

+4.09 pp from 2016

Benchmarks

See 94 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants5,000-9,999

Cohort94 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$1.52B

Not enough data

1 years with asset history on file

Average account balance

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

$202K

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.

7,529

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.

98.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$97.86M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+14.49%

Not enough data

1 years with return on file

Admin fee / account holder

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

$59

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

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2G2J

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$376K

$60 / participant

Other / not subdivided$376K100.0%

% of EOY assets

0.028%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: GJC CPA'S & ADVISORS
Auditor EIN: 382029668
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$173,470

$129,756+33.7%

$170,055+2.0%

$103,657+67.3%

Participation rate

97.6%

91.3%+6.3pp

87.0%+10.6pp

73.4%+24.2pp

Annual return

20.28%

20.17%+0.1pp

53.43%-33.1pp

33.13%-12.8pp

Employer contribution / active EE

$4,116

$5,236-21.4%

$6,790-39.4%

$3,216+28.0%

Participant deferral / active EE

$11,158

$8,283+34.7%

$10,410+7.2%

$5,218+113.8%

Admin fee / account holder

$49

$73-33.0%

$12,828-99.6%

$114-57.2%

BLUE CROSS BLUE SHIELD OF MICHIGAN EMPLOYEES' SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BLUE CROSS BLUE SHIELD OF MICHIGAN EMPLOYEES' SAVINGS PLAN

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