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Adventist Health System Sunbelt Healthcare Corporation

Plan Rating
FORM 5500 DATA

Adventist Health System Consolidated ERISA 403(b) Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan01/01/2006
  • Net Assets as of 12/31/2019 $81,375,831
  • Plan Number2
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants3,189
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits0
  • Subtotal3,189
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total3,189
  • Total number of participants as of 01/01/20192,430
  • Number of participants with account balances3,189
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address900 Hope Way
  • CityAltamonte Springs
  • StateFL
  • Zip32714
  • Telephone(407) 975-1435
  • EIN59-2170012
  • Industry Code622000
  • Named AdministratorRena Freeman

Audit Information

  • Audit StatusAudited
  • AuditorPkf O'Connor Davies, LLP
  • Auditor EIN27-1728945
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
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.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all 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 A 403(b) plan, also known as a tax-sheltered annuity (TSA) plan, is a retirement plan for certain employees of public schools, employees of certain tax-exempt organizations, and certain ministers.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $10,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $14,370,184
Contributions $0
Cash Contributions $0
Cash from Employers $0
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $14,370,184
Total Interest $568,508
Interest-Bearing Cash $630
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $37,533
Interest from Other Investments $530,345
Total Dividends $4,209,640
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $9,592,036
Other Income $0
Expenses $6,332,047
Total Benefit Payments $6,106,517
Directly to participants or beneficiaries, including direct rollovers $6,106,517
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $65,827
Interest expense $0
Total Administrative Expenses $159,703
Professional Fees $0
Contract Administrator Fees $159,478
Investment Advisory and management fees $0
Other Administrative Fees $225
Net Income $8,038,137
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $81,375,831 $70,465,326 15.48%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $753,913 $653,179 15.42%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $60,217,091 $49,204,097 22.38%
Value of funds held in insurance co. general account $20,404,827 $20,608,050 -0.99%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $81,375,831 $70,465,326 15.48%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Voya Retirement Ins and Annuity Co.

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Valic Retirement Services Company Custodial (securities), Investment advisory (participants), Investment management, Legal, Securities brokerage, Participant loan processing, Other services, Investment management fees paid indirectly by plan, Shareholder servicing fees, Sub-transfer agency fees, Finders' fees/placement fees, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees, Other investment fees and expenses, Other fees No Relationship $158,100 $0 $158,100
Variable Annuity Life Insurance Co Custodial (other than securities), Custodial (securities), Investment advisory (participants), Legal, Securities brokerage, Participant loan processing, Other services, Investment management fees paid indirectly by plan, Product termination fees (surrender charges, etc.), Shareholder servicing fees, Sub-transfer agency fees, Finders' fees/placement fees, Distribution (12b-1) fees, Recordkeeping fees, Insurance mortality and expense charge, Other investment fees and expenses, Other fees No Relationship $1,591 $0 $1,591
Fidelity Inv Inst Operations Co Inc Recordkeeping fees, Account maintenance fees Recordkeeper $220 $0 $220
Total $159,911 $0 $159,911

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Variable Annuity Life Insurance Co. 3,113
EIN 74-1625348
Industry Code 70238
Contract Number 29000
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $18,361,735
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Deposit Administration
Balance at the end of the previous year $18,357,451
Additions $1,692,607
Contributions Deposited during the year $238,559
Dividends and credits $0
Interest credited during the year $464,074
Transferred from separate account $989,974
Other $0
Total of Balance and Additions $20,050,058
Deductions $1,688,323
Disbursed from fund to pay benefits or purchase annuities during the year $1,629,202
Administration charge made by carrier $0
Transferred to Separate Account $34,525
Other $24,596
Balance at the end of the current year $18,361,735
Voya Retirement Insurance and Annuity Co. 119
EIN 71-0294708
Industry Code 86509
Contract Number VF6953
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $708,673
Value in Separate Accounts at Year End $57,714
Insurance Fees and Commissions $886
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Holway, Christopher M Po Box 13286 Tampa, FL 33681 Insurance Agent or Broker $684 $0
Corbett, Edward J 1870 Aloma Ave Ste 120 Winter Park, FL 32789 Insurance Agent or Broker $121 $0
Petitta, Diane E 1715 N West Shore Blvd Ste 300 Tampa, FL 33607 Insurance Agent or Broker $81 $0
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Guaranteed Investment
Balance at the end of the previous year $861,574
Additions $29,631
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $24,289
Transferred from separate account $0
Other $5,342
Total of Balance and Additions $891,205
Deductions $182,532
Disbursed from fund to pay benefits or purchase annuities during the year $182,532
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $708,673
Variable Annuity Life Insurance Co. 82
EIN 74-1625348
Industry Code 70238
Contract Number 29000
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $1,334,419
Value in Separate Accounts at Year End $1,222,730
Insurance Fees and Commissions $387
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Crowell, Christopher 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $277 $0
Blair, Kyle C 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $28 $0
Brown, Chris 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $27 $0
Mc Tiernan, Jeffrey J 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $27 $0
Yarnall, Gary 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $18 $0
Evans, Dawn 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $10 $0
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Deposit Administration
Balance at the end of the previous year $1,389,027
Additions $110,018
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $41,983
Transferred from separate account $68,035
Other $0
Total of Balance and Additions $1,499,045
Deductions $164,626
Disbursed from fund to pay benefits or purchase annuities during the year $160,234
Administration charge made by carrier $0
Transferred to Separate Account $3,010
Other $1,382
Balance at the end of the current year $1,334,419