Retirement plan

BLUE CROSS AND BLUE SHIELD OF MINNESOTA EMPLOYEE SAVINGS PLAN

Name: BLUE CROSS & BLUE SHIELD OF MINNESOTA - BLUE CROSS AND BLUE SHIELD OF MINNESOTA EMPLOYEE SAVINGS PLAN (2016) Form 5500
Creator: BLUE CROSS & BLUE SHIELD OF MINNESOTA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BLUE CROSS AND BLUE SHIELD OF MINNESOTA EMPLOYEE SAVINGS PLAN, BLUE CROSS & BLUE SHIELD OF MINNESOTA

BLUE CROSS & BLUE SHIELD OF MINNESOTAEIN 41-0984460Plan #002PY 2016

3535 BLUE CROSS ROAD - EAGAN, MN 55122651-662-8000LinkedIn1-10 employees

Other plans on this EIN

1 filing

#001Retirement-$199.8M assets

Prospect flagsFailed to provide benefitCorrective distributions

Top hat statement on fileNQDC

Filed January 31, 2005 (most recent of 7 filings on file)

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.

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Total assets (EOY)

$524.8M

-6.6% from 2016

Total participants

5,671

-1.0% from 2016

Average account balance

$100,355

-6.2% from 2016

Annual return

7.64%

-5.78 pp from 2016

Benchmarks

See 529 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort529 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$884.58M

Not enough data

1 years with asset history on file

Average account balance

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

$184K

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.

4,813

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.

98.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$45.55M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+17.11%

Not enough data

1 years with return on file

Admin fee / account holder

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

$105

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

Top 5 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Service code 37 · EIN 04-2647786	Loan Processing	$52,798
BCBSA NEBA2+ years Service code 13 · EIN 13-5656874	Contract Administrator	$35,476
KELLY PRESS INC2+ years Filed as: KELLY, HANNAFORD & B Service code 29 · EIN 41-1802551	Legal	$32,208
STRATEGIC ADVISORS, INC.2+ years Service code 27 · EIN 04-2654524	Advisory (Plan)	$22,480
ERNST & YOUNG LLP1 year Filed as: ERNST & YOUNG Service code 10 · EIN 34-6565596	Accounting	$8,150

Plan features & details

Pension benefit codes2E2G2J2K2S2T3D

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.
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.
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

ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$152K

$34 / participant

Investment mgmt$22K14.8%
Other / not subdivided$130K85.2%

% of EOY assets

0.029%

all-in expense ratio

Categories reported

1 / 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: ERNST & YOUNG LLP
Auditor EIN: 346565596
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$100,355

$80,354+24.9%

$133,975-25.1%

$63,975+56.9%

Participation rate

90.0%

87.5%+2.5pp

87.1%+2.9pp

71.1%+18.9pp

Annual return

7.64%

13.11%-5.5pp

29.29%-21.7pp

48.65%-41.0pp

Employer contribution / active EE

$2,344

$3,503-33.1%

$5,211-55.0%

$2,182+7.4%

Participant deferral / active EE

$5,690

$5,239+8.6%

$6,282-9.4%

$3,356+69.5%

Admin fee / account holder

$29

$69-58.0%

$9,324-99.7%

$70-58.6%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Service code 37 · EIN 04-2647786

Loan Processing

$52,798

BCBSA NEBA2+ years

Service code 13 · EIN 13-5656874

Contract Administrator

$35,476

KELLY PRESS INC2+ years

Filed as: KELLY, HANNAFORD & B

Service code 29 · EIN 41-1802551

Legal

$32,208

STRATEGIC ADVISORS, INC.2+ years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$22,480

ERNST & YOUNG LLP1 year

Filed as: ERNST & YOUNG

Service code 10 · EIN 34-6565596

Accounting

$8,150

BLUE CROSS AND BLUE SHIELD OF MINNESOTA EMPLOYEE SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BLUE CROSS AND BLUE SHIELD OF MINNESOTA EMPLOYEE SAVINGS PLAN

Top hat statement on fileNQDC

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