Retirement plan

BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC. 401(K) RETIREMENT SAVINGS PLAN

Name: BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC. - BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC. 401(K) RETIREMENT SAVINGS PLAN (2021) Form 5500
Creator: BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC. 401(K) RETIREMENT SAVINGS PLAN, BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC.

BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC.EIN 59-2015694Plan #002PY 2021

4800 DEERWOOD CAMPUS PARKWAY - JACKSONVILLE, FL 322466498904-791-6111LinkedIn1-10 employeesinvestment management

Other plans on this EIN

1 filing

#001Retirement-$708.6M assets

Prospect flagsLow returnsCorrective distributions

Top hat statement on fileNQDC

Filed July 28, 2006 (most recent of 3 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)

$1418.8M

+16.8% from 2020

Total participants

10,396

+1.3% from 2020

Average account balance

$139,280

+15.9% from 2020

Annual return

14.39%

-6.80 pp from 2020

Benchmarks

See 97 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants5,000-9,999

Cohort97 peers

Snapshot2021

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Analytics

Total assets (EOY)

Plan-year ending balance

$1.67B

Not enough data

1 years with asset history on file

Average account balance

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

$156K

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.

10,730

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

$103.84M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+15.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$178

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 ENGINES7+ years Service code 27 · EIN 94-3250323	Advisory (Plan)	$1,166,781
BCBSA NEBA7+ years Service code 14 · EIN 13-5656874	Plan Administrator	$109,660
WEALTH MANAGEMENT SYSTEMS INC3 years Service code 49 · EIN 22-3734996	Other Services	$0
FIDELITY INVESTMENTS INSTITUTIONAL7+ years Service code 25 · EIN 04-2647786	Directed Trustee	-$188,947

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3F3H2R

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.
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

2 tripped

OpportunityLow returns
Annual investment return 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

$1.1M

$127 / participant

Other / not subdivided$1M100.0%

% of EOY assets

0.076%

all-in expense ratio

Categories reported

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

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$139,280

$136,780+1.8%

$189,513-26.5%

$101,517+37.2%

Participation rate

97.5%

90.9%+6.7pp

87.8%+9.7pp

74.6%+23.0pp

Annual return

14.39%

37.00%-22.6pp

555.15%-540.8pp

21.00%-6.6pp

Employer contribution / active EE

$6,034

$4,857+24.3%

$6,162-2.1%

$2,973+103.0%

Participant deferral / active EE

$7,084

$7,572-6.4%

$8,221-13.8%

$4,873+45.4%

Admin fee / account holder

$106

$64+65.2%

$12,045-99.1%

$139-24.0%

Provider

Service type

Compensation

FINANCIAL ENGINES7+ years

Service code 27 · EIN 94-3250323

Advisory (Plan)

$1,166,781

BCBSA NEBA7+ years

Service code 14 · EIN 13-5656874

Plan Administrator

$109,660

WEALTH MANAGEMENT SYSTEMS INC3 years

Service code 49 · EIN 22-3734996

Other Services

FIDELITY INVESTMENTS INSTITUTIONAL7+ years

Service code 25 · EIN 04-2647786

Directed Trustee

-$188,947

BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC. 401(K) RETIREMENT 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 FLORIDA, INC. 401(K) RETIREMENT 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