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FORM 5500 DATA

Wake Forest Baptist Medical Center 403(b) Retirement Savings Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan07/01/1989
  • Net Assets as of 12/31/2018 $1,852,345,691
  • 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 12/31/2018

  • Active (Eligible) Participants18,912
  • Retired or separated participants receiving benefits179
  • Other retired or separated participants entitled to future benefits7,735
  • Subtotal26,826
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits88
  • Total26,914
  • Total number of participants as of 01/01/201822,375
  • Number of participants with account balances26,745
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested1,023

Expenses

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

Sponsor Information

  • AddressMedical Center Boulevard
  • CityWinston-Salem
  • StateNC
  • Zip27157
  • Telephone(336) 716-8979
  • EIN51-0190238
  • Industry Code622000
  • Named AdministratorKathy Bumgarner

Audit Information

  • Audit StatusAudited
  • AuditorButler and Burke, LLP
  • Auditor EIN56-1138530
  • 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.
2M Code section 403(b)(7) accounts A 403(b)(7) plan is a tax-deferred retirement plan often available to employees of public schools or non-profit organizations.
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.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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 $87,964,244
Contributions $185,639,627
Cash Contributions $185,639,627
Cash from Employers $81,865,833
Cash from Participants $86,810,719
Others (including rollovers) $16,963,075
Noncash Contributions $0
Total Earnings on Investments $-98,359,342
Total Interest $511,133
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $511,133
Interest from Other Investments $0
Total Dividends $49,384,904
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 $-148,255,379
Other Income $683,959
Expenses $132,214,399
Total Benefit Payments $131,135,520
Directly to participants or beneficiaries, including direct rollovers $128,461,559
To insurance carriers for the provision of benefits $2,673,961
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $852,320
Interest expense $0
Total Administrative Expenses $226,559
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $226,559
Other Administrative Fees $0
Net Income $-44,250,155
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $1,852,345,691 $1,674,695,302 10.61%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $78,992 $15,946 395.37%
Employer Contributions $0 $15,946 -100.00%
Participant Contributions $0 $0 0.0%
Other Contributions $78,992 $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 $15,758,631 $10,749,393 46.60%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $14,686,472 $14,736,741 -0.34%
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 $1,431,380,468 $1,318,927,671 8.53%
Value of funds held in insurance co. general account $390,441,128 $330,265,551 18.22%
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 $1,852,345,691 $1,674,695,302 10.61%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Transamerica Retirement Solutions
  • Tiaa Cref

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
Transamerica Retirement Solutions Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management, Participant loan processing, Participant communication, Direct payment from the plan, Sales loads (front end and deferred), Shareholder servicing fees, Finders' fees/placement fees, Float revenue, Distribution (12b-1) fees, Recordkeeping fees, Account maintenance fees Record Keeper $1,607,899 $0 $1,607,899
Tiaa Cref Claims processing, Recordkeeping and information management (computing, tabulating, data processing, etc.), Investment management Record Keeper $264,775 $0 $264,775
Morgan Stanley Investment advisory (plan), Direct payment from the plan Investment Advisor $100,000 $0 $100,000
National Financial Services Securities brokerage, Securities brokerage commissions and fees Securities Broker $0 $0 $0
Mid Atlantic Captial Corporation Securities brokerage, Securities brokerage commissions and fees Securities Broker $0 $0 $0
Total $1,972,674 $0 $1,972,674

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
National Financial Services American Beacon Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services American Funds Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Blackrock Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Cohen & Steers Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Federated Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Fidelity Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Goldman Sachs Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Janus Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Legg Mason Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Loomis Sayles Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services MFS Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Neuberger Berman Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services T Rowe Price Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
National Financial Services Virtus Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
Mid Atlantic Capital Corporation New York Life Securities brokerage, Securities brokerage commissions and fees Revenue Sharing See Attachment To Line 2(H) $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

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

Name of Investment Investment Manager Type of Investment Dollar Value
Tiaa Real Estate Tiaa Cref DFE: Pooled Separate Account $14,686,472
Total $14,686,472

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Transamerica Financial Life Insurance Company 22,174
EIN 36-6071399
Industry Code 70688
Contract Number TT069340
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $644,743
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 Guaranteed Investment
Balance at the end of the previous year $75,886
Additions $1,930,185
Contributions Deposited during the year $32,616
Dividends and credits $0
Interest credited during the year $3,620
Transferred from separate account $0
Other $1,893,949
Total of Balance and Additions $2,006,071
Deductions $1,361,328
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $1,361,328
Balance at the end of the current year $644,743
NYL 22,174
EIN 13-5582869
Industry Code 66915
Contract Number TT069340
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $167,109,352
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 Guaranteed Investment
Balance at the end of the previous year $156,562,585
Additions $35,498,640
Contributions Deposited during the year $12,893,466
Dividends and credits $0
Interest credited during the year $3,267,362
Transferred from separate account $0
Other $19,337,812
Total of Balance and Additions $192,061,225
Deductions $24,951,873
Disbursed from fund to pay benefits or purchase annuities during the year $13,527,062
Administration charge made by carrier $213,892
Transferred to Separate Account $0
Other $11,210,919
Balance at the end of the current year $167,109,352
Tiaa-Cref 3,622
EIN 13-1624203
Industry Code 69345
Contract Number 405780
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $173,798,901
Value in Separate Accounts at Year End $14,686,472
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 Guaranteed Investment
Balance at the end of the previous year $29,484,833
Additions $165,762,183
Contributions Deposited during the year $2,085,880
Dividends and credits $0
Interest credited during the year $6,724,527
Transferred from separate account $16,031,189
Other $140,920,587
Total of Balance and Additions $195,247,016
Deductions $21,448,115
Disbursed from fund to pay benefits or purchase annuities during the year $9,536,940
Administration charge made by carrier $0
Transferred to Separate Account $11,810,289
Other $100,886
Balance at the end of the current year $173,798,901
Variable Annuity Life Insurance Company 279
EIN 74-1625348
Industry Code 70238
Contract Number 06030
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $2,778,815
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $721
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Matthew Howard 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $400 $0
Evangeline Lodwick 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $99 $0
Michael J Schultz 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $68 $0
Amber A Cornwell 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $66 $0
David W Dupont 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $54 $0
Janet Stratton 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $19 $0
Gregory Calvert 2929 Allen Parkway Houston, TX 77019 Insurance Agent or Broker $15 $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 $3,202,877
Additions $115,551
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $112,519
Transferred from separate account $0
Other $3,032
Total of Balance and Additions $3,318,428
Deductions $539,613
Disbursed from fund to pay benefits or purchase annuities during the year $539,613
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $2,778,815
Variable Annuity Life Insurance Co 28
EIN 74-1625348
Industry Code 70238
Contract Number 64428
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $382,260
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 $385,160
Additions $11,580
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $10,372
Transferred from separate account $0
Other $1,208
Total of Balance and Additions $396,740
Deductions $14,480
Disbursed from fund to pay benefits or purchase annuities during the year $14,148
Administration charge made by carrier $332
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $382,260
Hartford Life Insurance Company 16
EIN 06-0974148
Industry Code 88072
Contract Number GA-751706
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $50,391
Value in Separate Accounts at Year End $78,701
Insurance Fees and Commissions $308
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Wells Fargo Advisors LLC 1 N Jefferson Ave St. Louis, MO 63103 Insurance Agent or Broker $308 $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 GROUP VARIABLE ANNUITY
Balance at the end of the previous year $49,071
Additions $1,470
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $1,470
Transferred from separate account $0
Other $0
Total of Balance and Additions $50,541
Deductions $150
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $150
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $50,391
Tiaa-Cref 0
EIN 13-1624203
Industry Code 69345
Contract Number 101028
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $0
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 Guaranteed Investment
Balance at the end of the previous year $140,505,139
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $140,505,139
Deductions $140,505,139
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $140,505,139
Balance at the end of the current year $0