Retirement plan

TAX FAVORED SAVINGS PROGRAM

Name: BLUE CROSS AND BLUE SHIELD OF MISSISSIPPI, A MUTUAL INSURANCE COMPANY - TAX FAVORED SAVINGS PROGRAM (2023) Form 5500
Creator: BLUE CROSS AND BLUE SHIELD OF MISSISSIPPI, A MUTUAL INSURANCE COMPANY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TAX FAVORED SAVINGS PROGRAM, BLUE CROSS AND BLUE SHIELD OF MISSISSIPPI, A MUTUAL INSURANCE COMPANY

BLUE CROSS AND BLUE SHIELD OF MISSISSIPPI, A MUTUAL INSURANCE COMPANYEIN 64-0295748Plan #003PY 2023

3545 LAKELAND DRIVE EAST - FLOWOOD, MS 392328839800-245-7958LinkedIn1-10 employeesmedical practice

Other plans on this EIN

1 filing

#002Retirement-$163.3M assets

Prospect flagsNo flags tripped

Top hat statement on fileNQDC

Filed June 26, 2024 (most recent of 2 filings on file)

Plan administrator

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3545 Lakeland Drive

Flowood, MS 39232

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Plans declared (4)

Blue Cross & Blue Shield of Mississippi, A Mutual Insurance Company, Savings Restoration Program11 emp
Blue Cross & Blue Shield of Mississippi, A Mutual Insurance Company, Retirement Benefit Restoration Program6 emp
Blue Cross & Blue Shield of Mississippi, A Mutual Insurance Company, Deferred Compensation Program for Officers1 emp
Blue Cross & Blue Shield of Mississippi, A Mutual Insurance Company, Deferred Compensation Program for Directors4 emp

Total covered: 22 employees

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Total assets (EOY)

$106.5M

+21.1% from 2022

Total participants

733

+1.1% from 2022

Average account balance

$147,278

+20.1% from 2022

Annual return

20.95%

+40.22 pp from 2022

Benchmarks

See 1,521 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,521 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$121.95M

Not enough data

1 years with asset history on file

Average account balance

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

$168K

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.

727

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.

98.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$9.11M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+15.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$63

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 2 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL9+ years Service code 25 · EIN 04-2647786	Directed Trustee	$39,331
WEALTH MANAGEMENT SYSTEMS INC5 years Service code 49 · EIN 22-3734996	Other Services	$0

Plan features & details

Pension benefit codes2F2G2J2K2S2T3F2E

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.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$39K

$78 / participant

Recordkeeping$39K100.0%

% of EOY assets

0.037%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARR, RIGGS & INGRAM, LLC
Auditor EIN: 721396621
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$147,278

$100,272+46.9%

$170,057-13.4%

$74,473+97.8%

Participation rate

98.0%

87.4%+10.7pp

87.0%+11.0pp

70.7%+27.3pp

Annual return

20.95%

66.12%-45.2pp

53.42%-32.5pp

34.36%-13.4pp

Employer contribution / active EE

$9,840

$4,266+130.7%

$6,790+44.9%

$2,638+273.0%

Participant deferral / active EE

$6,896

$7,147-3.5%

$10,411-33.8%

$4,530+52.2%

Admin fee / account holder

$54

$235-76.8%

$12,826-99.6%

$347-84.3%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL9+ years

Service code 25 · EIN 04-2647786

Directed Trustee

$39,331

WEALTH MANAGEMENT SYSTEMS INC5 years

Service code 49 · EIN 22-3734996

Other Services

TAX FAVORED SAVINGS PROGRAM

Top hat statement on fileNQDC

Plan administrator

Plans declared (4)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TAX FAVORED SAVINGS PROGRAM

Top hat statement on fileNQDC

Plan administrator

Plans declared (4)

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