Retirement plan

BLUE CROSS AND BLUE SHIELD OF AL 401(K) PLAN SALARY DEFERRAL PLAN

Name: BLUE CROSS BLUE SHIELD OF ALABAMA - BLUE CROSS AND BLUE SHIELD OF AL 401(K) PLAN SALARY DEFERRAL PLAN (2024) Form 5500
Creator: BLUE CROSS BLUE SHIELD OF ALABAMA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BLUE CROSS AND BLUE SHIELD OF AL 401(K) PLAN SALARY DEFERRAL PLAN, BLUE CROSS BLUE SHIELD OF ALABAMA

BLUE CROSS BLUE SHIELD OF ALABAMAEIN 63-0103830Plan #002PY 2024

450 RIVERCHASE PKWY E - BIRMINGHAM, AL 352442858205-220-7209bcbsal.orgLinkedIn1001-5000 employeesinsurance

Other plans on this EIN

1 filing

#001Retirement-$711.9M assets

Prospect flagsFailed to transmit contributions

Top hat statement on fileNQDC

Filed June 21, 2021 (most recent of 4 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

450 Riverchase Parkway East

Birmingham, AL 35244

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Plans declared (1)

Blue Cross and Blue Shield of Alabama Officer Service Benefit Plan4 emp

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Total assets (EOY)

$880.4M

+16.2% from 2023

Total participants

5,222

+3.4% from 2023

Average account balance

$170,718

+12.5% from 2023

Annual return

15.73%

-4.51 pp from 2023

Benchmarks

See 609 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort609 peers

Snapshot2024

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Analytics

Total assets (EOY)

Plan-year ending balance

$880.39M

Not enough data

1 years with asset history on file

Average account balance

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

$171K

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.

5,157

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

$46.81M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+15.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$90

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 3 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 15 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping	$299,963
AON CONSULTING3 years Filed as: AON INVESTMENTS USA INC Service code 27 39584 TREASURY CENTER · CHICAGO, IL 606949500	Advisory (Plan)	$134,162
WARREN AVERETT, LLC10+ years Service code 10 2500 ACTON RD · BIRMINGHAM, AL 35243	Accounting	$31,000

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3F3H

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.
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

1 tripped

ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$465K

$107 / participant

Recordkeeping$300K64.5%
Investment mgmt$134K28.8%
Other / not subdivided$31K6.7%

% of EOY assets

0.053%

all-in expense ratio

Categories reported

2 / 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: WARREN AVERETT
Auditor EIN: 454084397
Audit fees: $31,000
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$170,718

$122,854+39.0%

$184,200-7.3%

$199,768-14.5%

Participation rate

98.5%

87.0%+11.5pp

86.8%+11.7pp

72.0%+26.5pp

Annual return

15.73%

143.99%-128.3pp

28.80%-13.1pp

34.26%-18.5pp

Employer contribution / active EE

$3,948

$4,588-14.0%

$6,424-38.5%

$3,037+30.0%

Participant deferral / active EE

$6,794

$7,995-15.0%

$9,132-25.6%

$5,090+33.5%

Admin fee / account holder

$90

$120-25.0%

$13,907-99.4%

$269-66.5%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 15

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping

$299,963

AON CONSULTING3 years

Filed as: AON INVESTMENTS USA INC

Service code 27

39584 TREASURY CENTER · CHICAGO, IL 606949500

Advisory (Plan)

$134,162

WARREN AVERETT, LLC10+ years

Service code 10

2500 ACTON RD · BIRMINGHAM, AL 35243

Accounting

$31,000

BLUE CROSS AND BLUE SHIELD OF AL 401(K) PLAN SALARY DEFERRAL PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BLUE CROSS AND BLUE SHIELD OF AL 401(K) PLAN SALARY DEFERRAL PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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