Retirement plan

PENN STATE HEALTH TAX SHELTERED ANNUITY PROGRAM

Name: PENN STATE HEALTH - PENN STATE HEALTH TAX SHELTERED ANNUITY PROGRAM (2021) Form 5500
Creator: PENN STATE HEALTH
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PENN STATE HEALTH TAX SHELTERED ANNUITY PROGRAM, PENN STATE HEALTH

PENN STATE HEALTHEIN 47-3769205Plan #002PY 2021

100 CRYSTAL A DRIVE PO BOX 804 - HERSHEY, PA 170330804717-531-6222pennstatehealth.orgLinkedIn10001+ employeeshospital & health care

Other plans on this EIN

1 filing

#001Retirement-$2.50B assets

Prospect flagsLow participationLow employer contributionCorrective distributions

Top hat statement on fileNQDC

Filed April 4, 2018

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Total assets (EOY)

$430.1M

-19.0% from 2019

Total participants

17,487

-4.8% from 2019

Average account balance

$135,053

-11.4% from 2019

Annual return

25.77%

+166253.61 pp from 2019

Benchmarks

See 230 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants>=10,000

Cohort230 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$532.45M

Not enough data

1 years with asset history on file

Average account balance

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

$133K

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.

4,007

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.

15.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$37.68M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+18.69%

Not enough data

1 years with return on file

Admin fee / account holder

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

$38

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 10 of 13 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: ADVISED ASSET GROUP, LLC Service code 28 8515 E. ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$37,430
FORVIS, LLP1 year Service code 10 · EIN 44-0160260	Accounting	$9,880
JP MORGAN INVESTMENT MANAGEMENT INC3 years Filed as: HANLON INVESTMENT MANAGEMENT Service code 26 · EIN 22-3723068	Advisory (Participants)	$5,445
VALIC RETIREMENT SERVICES COMPANY2 years Filed as: VARIABLE ANNUITY LIFE INSURANCE CO. Service code 64 · EIN 74-1625348	Recordkeeping Fees	$4,006
AMERICAN FUNDS3 years Filed as: FORT PITT CAPITAL GROUP LLC Service code 26 · EIN 47-5006020	Advisory (Participants)	$2,212
LARSON FINANCIAL GROUP LLC4+ years Service code 26 · EIN 20-4773945	Advisory (Participants)	$1,984
SIGNATURE ESTATE & INVESTMENT4+ years Service code 26 · EIN 95-4806910	Advisory (Participants)	$1,359
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB & CO.,INC. Service code 33 · EIN 94-1737782	Securities brokerage	$836
FLEXIBLE PLAN INVESTMENTS LTD1 year Service code 26 · EIN 38-2340348	Advisory (Participants)	$166
PROCOURSE FIDUCIARY ADVISORS, LLC4+ years Filed as: VESTIA ADVISORS LLC Service code 26 · EIN 82-1828832	Advisory (Participants)	$118

Plan features & details

Pension benefit codes2F2G2L2M2T2R3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant 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

$63K

$4 / participant

Investment mgmt$50K78.1%
Contract admin$4K6.3%
Other / not subdivided$10K15.6%

% of EOY assets

0.015%

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: FORVIS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$135,053

$68,062+98.4%

$185,854-27.3%

$106,520+26.8%

Participation rate

14.8%

75.2%-60.4pp

81.7%-66.9pp

71.3%-56.5pp

Annual return

25.77%

18.20%+7.6pp

122.12%-96.4pp

19.28%+6.5pp

Employer contribution / active EE

$1,997-100.0%

$5,169-100.0%

$2,840-100.0%

Participant deferral / active EE

$1,855

$3,990-53.5%

$5,569-66.7%

$4,948-62.5%

Admin fee / account holder

$20

$53-62.2%

$16,246-99.9%

$75-73.3%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: ADVISED ASSET GROUP, LLC

Service code 28

8515 E. ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$37,430

FORVIS, LLP1 year

Service code 10 · EIN 44-0160260

Accounting

$9,880

JP MORGAN INVESTMENT MANAGEMENT INC3 years

Filed as: HANLON INVESTMENT MANAGEMENT

Service code 26 · EIN 22-3723068

Advisory (Participants)

$5,445

VALIC RETIREMENT SERVICES COMPANY2 years

Filed as: VARIABLE ANNUITY LIFE INSURANCE CO.

Service code 64 · EIN 74-1625348

Recordkeeping Fees

$4,006

AMERICAN FUNDS3 years

Filed as: FORT PITT CAPITAL GROUP LLC

Service code 26 · EIN 47-5006020

Advisory (Participants)

$2,212

LARSON FINANCIAL GROUP LLC4+ years

Service code 26 · EIN 20-4773945

Advisory (Participants)

$1,984

SIGNATURE ESTATE & INVESTMENT4+ years

Service code 26 · EIN 95-4806910

Advisory (Participants)

$1,359

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB & CO.,INC.

Service code 33 · EIN 94-1737782

Securities brokerage

$836

FLEXIBLE PLAN INVESTMENTS LTD1 year

Service code 26 · EIN 38-2340348

Advisory (Participants)

$166

PROCOURSE FIDUCIARY ADVISORS, LLC4+ years

Filed as: VESTIA ADVISORS LLC

Service code 26 · EIN 82-1828832

Advisory (Participants)

$118

PENN STATE HEALTH TAX SHELTERED ANNUITY PROGRAM

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PENN STATE HEALTH TAX SHELTERED ANNUITY PROGRAM

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