Retirement plan

RIVERSIDE HEALTH SYSTEM 403(B) RETIREMENT PLAN

Name: RIVERSIDE MANAGEMENT SERVICES, INC. - RIVERSIDE HEALTH SYSTEM 403(B) RETIREMENT PLAN (2016) Form 5500
Creator: RIVERSIDE MANAGEMENT SERVICES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RIVERSIDE HEALTH SYSTEM 403(B) RETIREMENT PLAN, RIVERSIDE MANAGEMENT SERVICES, INC.

RIVERSIDE MANAGEMENT SERVICES, INC.EIN 52-1241840Plan #004PY 2016

12420 WARWICK BLVD, BUILDING 6, SUITE 6B - NEWPORT NEWS, VA 23606757-534-5544

Other plans on this EIN

2 filings

#001Retirement-$459.4M assets #002Retirement-$164.5M assets

Prospect flagsLow assets / participantLow employer contributionFailed to transmit contributionsCorrective distributions

Top hat statement on fileNQDC

Filed November 29, 2005

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)

$147.4M

-20.4% from 2016

Total participants

13,378

+3.2% from 2016

Average account balance

$13,635

-14.8% from 2016

Annual return

10.84%

-4.31 pp from 2016

Benchmarks

See 236 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants5,000-9,999

Cohort236 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$463.16M

Not enough data

1 years with asset history on file

Average account balance

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

$54K

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.

8,595

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.

57.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$45.19M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+14.61%

Not enough data

1 years with return on file

Admin fee / account holder

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

$72

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 7 by compensation

Provider	Service type	Compensation
TRANSAMERICA RETIREMENT SOLUTIONS2+ years Service code 12 · EIN 13-3689044	Claims processing; Participant commun...	$449,716
MERCER2+ years Service code 16 · EIN 61-0736136	Consulting	$29,548
NATIONWIDE2+ years Service code 13 · EIN 31-4156830	Contract Administrator	$9,001
CHARLES SCHWAB & CO., INC.2+ years Filed as: CHARLES SCHWAB & CO, INC. Service code 33 · EIN 94-1737782	Securities brokerage; Securities brok...	$850
VALIC RETIREMENT SERVICES COMPANY2+ years Filed as: VARIABLE ANNUITY LIFE INSURANCE CO. Service code 13 · EIN 31-4156830	Contract Administrator	$199
LINCOLN NATIONAL CORPORATION2+ years Service code 13 · EIN 35-1140070	Contract Administrator	$0
NATIONAL FINANCIAL SERVICES2+ years Service code 33 · EIN 04-3523567	Securities brokerage commissions and ...	$0

Plan features & details

Pension benefit codes2F2G2L2M2R2T3H

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

4 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$479K

$48 / participant

Investment mgmt$30K6.2%
Other / not subdivided$450K93.8%

% of EOY assets

0.325%

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: DIXON HUGHES GOODMAN LLP
Auditor EIN: 560747981
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$13,635

$43,110-68.4%

$156,551-91.3%

$65,292-79.1%

Participation rate

74.1%

69.3%+4.8pp

84.0%-9.9pp

72.4%+1.7pp

Annual return

10.84%

11.24%-0.4pp

32.23%-21.4pp

11.84%-1.0pp

Employer contribution / active EE

$85

$1,702-95.0%

$5,501-98.4%

$2,302-96.3%

Participant deferral / active EE

$2,590

$2,520+2.8%

$4,871-46.8%

$3,579-27.6%

Admin fee / account holder

$44

$47-6.1%

$13,028-99.7%

$57-22.7%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS2+ years

Service code 12 · EIN 13-3689044

Claims processing; Participant commun...

$449,716

MERCER2+ years

Service code 16 · EIN 61-0736136

Consulting

$29,548

NATIONWIDE2+ years

Service code 13 · EIN 31-4156830

Contract Administrator

$9,001

CHARLES SCHWAB & CO., INC.2+ years

Filed as: CHARLES SCHWAB & CO, INC.

Service code 33 · EIN 94-1737782

Securities brokerage; Securities brok...

$850

VALIC RETIREMENT SERVICES COMPANY2+ years

Filed as: VARIABLE ANNUITY LIFE INSURANCE CO.

Service code 13 · EIN 31-4156830

Contract Administrator

$199

LINCOLN NATIONAL CORPORATION2+ years

Service code 13 · EIN 35-1140070

Contract Administrator

NATIONAL FINANCIAL SERVICES2+ years

Service code 33 · EIN 04-3523567

Securities brokerage commissions and ...

RIVERSIDE HEALTH SYSTEM 403(B) RETIREMENT PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

RIVERSIDE HEALTH SYSTEM 403(B) RETIREMENT 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