HomeMy WebLinkAboutReports - 2020.11.19 - 33731BPAS offices in Rochester, Syracuse, Utica & New York | Philadelphia & Pittsburgh, PA | Houston, TX | E. Hanover, NJ | San Juan, PR
Justin Kemmerlin, Intern |p: @phone@ | 866-401-5272e: JKemmerlin@bpas.com | w: bpas.com
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Oakland County Retirement Health Savings Plan
2020 - 3Q Report
July 1 - September 30
Oakland County Retirement Health Savings Plan
As of 09/30/2020
460112 - Oakland County Retirement Health Savings Plan
Plan Review Report Introduction
"How is your employer-sponsored trust helping employees pay for eligible medical expenses?"
A Voluntary Employees' Beneficiary Association (VEBA) allows an employer to contribute money to a tax-exempt trust on behalf of their employees. The funds in
this account can be used to help pay for eligible medical expenses through a health reimbursement arrangement (HRA). The HRA gives employees more control
over health care purchase decisions by:
- Helping pay for eligible expenses
- Giving employees online access to information and tools to monitor their account and make more informed decisions
- Providing employees the convenience of debit cards for purchases, which means no extra paperwork
- Allowing employees to receive reimbursements tax-free
Plan Sponsors and VEBA plan committees spend a tremendous amount of time devoted to employees' day-to-day matters. This includes large plan level tasks
such as compliance testing, tax form preparation and plan audit support as well as routine daily activity such as contributions, reimbursements and of course,
helping participants with daily questions concerning the Plan.
Recognizing that the ultimate goal of your VEBA/HRA Plan is to allow for tax-free accumulation of assets to be used by the participant to pay for eligible medicale
xpenses now and into retirement, it is important for Plan Sponsors and VEBA plan committees to periodically review the day-to-day activity within their Plan.For example:
- What are the most common participant questions or concerns?
- What are average participant balances within the Plan?
- How many claims are being filed and what filing methods are being utilized?
- If multiple plans are offered, how do each of the Plan' activities compare?
- Are participants taking advantage of the debit card submission availability?
This Plan Review Report will present an itemized breakdown of participant inquiries received through our call center, a breakdown of claims statistics by source
and plan type, a summary of debit card substantiation and auto adjudication rates, and the average participant balances by age and service within the Plan.
Plan Summary
$ 29,354,563 $ 13,331
Plan ID and Plan Name Ppts Plan Market Value Avg Ppt Balance
460112 - Oakland County Retirement Health Savings Plan 2202
Please note, due to whole dollar amounts used throughout for reporting purposes, some slight variance may occur due to rounding ussues.
Oakland County Retirement Health Savings Plan Plan Rate of Return
As of 09/30/2020
460112 - Oakland County Retirement Health Savings Plan
Your Plan's YTD Rate of Return as of 9/30/2020 4.56 %
As fiduciaries oversee your VEBA plan, one factor they monitor is the plan-wide rate of return -- seeking to understand how the investment decisions
of participants are driving outcomes. This report (updated quarterly) shows the average rate of return for your entire VEBA plan, along with the
breakdown of the rate of return for one year, three years and five years.. For a more detailed report showing the YTD rate of return for each
participant, please see the YTD Rate of Return Report - Participant Level under the Demographics section of the Resource Center on the plan
sponsor website.
Qtr YTD 1 Year 3 Year 5 Year
Rate of Return 6.41 % 4.56 % 10.89 % N/A N/A
Please see the
YTD Rate of
Return Report -
Participant Level
in the Resource
Center for more
detailed break
down
QTR
YTD
1 Year
3 Year
5 Year
0 5 10 15
Oakland County Retirement Health Savings Plan Asset Summary
Asset Reconciliation
As of 09/30/2020
460112 - Oakland County Retirement Health Savings Plan
Stable Value $815,153.81
Bonds $237,375.18
Equities $2,162,156.72
Balanced $26,139,877.14
Employer Stock $0.00
Collective Inv Trust $0.00
Participant Loans $0.00
Insurance $0.00
Other $0.00
Stable Value 2.78%
Bonds 0.81%
Equities 7.37%
Balanced 89.05%
Employer Stock 0%
Collective Inv Trust 0%
Participant Loans 0%
Insurance 0%
Other 0%
$ 57.55 $ 98,839.20
$53.84 $ 51,167.58
$23.02 $ 4,901.23
$25.92 $ 9,522.97
$56.70 $ 10,894.82
$13.14 $ 35,392.04
$30.69 $ 86,753.03
$117.07 $ 939,670.10
$16.86 $ 12,666.25
$40.12 $ 4,083.89
$1.00 $ 815,153.81
$19.18 $ 75,104.80
$11.42 $ 365.36
$17.58 $ 149,505.43
$58.97 $ 442,859.84
$49.24 $ 46,957.78
$5.32 $ 12,994.22
$14.85 $ 149,943.35
$11.71 $ 34,144.34
$12.23 $ 0.00
$80.62 $ 214,785.62
$18.75 $ 1,870,923.85
$19.85 $ 2,582,891.35
$20.94 $ 2,564,920.37
$21.98 $ 2,873,163.87
$22.69 $ 4,731,988.14
Fund Name Ticker Share Price Share Balance Market Value Pct of
Total Assets Ppt Count
AMERICAN FUNDS EUROPACFIC R5E RERHX 1,717.4491 0.34% 31
AMERICAN FUNDS NW PRSPCTV R5 RNPFX 950.3636 0.17% 22
BNY MELLON GLBL FIXED INCOME A DHGAX 212.9117 0.02% 1
BNY MELLON NATURAL RESOURCES I DLDRX 367.3985 0.03% 6
COHEN & STEERS REALTY SHARES CSRSX 192.1485 0.04% 10
DFA INFLATPROTECT SECUR PORTFO DIPSX 2,693.4584 0.12% 8
EV ATLANTA CAPITAL SMID CAP A EAASX 2,826.7523 0.30% 37
FIDELITY 500 INDEX INST'L PREM FXAIX 8,026.5661 3.20% 85
FIDELITY GROWTH COMPANY K6 FGKFX 751.2602 0.04% 5
FIDELITY INT'L INDEX INSTL PRE FSPSX 101.7918 0.01% 2
FIDELITY INV MM GOV'T PORT III FCGXX 815,153.8100 2.78% 26
FIDELITY SM CP IDX INSTL PREM FSSNX 3,915.7875 0.26% 35
GS INT'L SM CAP INSIGHTS INV GIRLX 31.9928 0.00% 1
JPMORGAN EQUITY INCOME R5 OIERX 8,504.2906 0.51% 35
JPMORGAN LRG CAP GROWTH JLGMX 7,509.9177 1.51% 57
MFS INT' L INTRINSIC VAL R3 MINGX 953.6510 0.16% 18
PGIM HIGH YIELD Z PHYZX 2,442.5218 0.04% 6
PGIM TOTAL RTRN BOND Z PDBZX 10,097.1953 0.51% 24
PIMCO INCOME A PONAX 2,915.8277 0.12% 11
PIMCO REAL RETURN FUND A PRTNX 0.0000 0.00% 0
T. ROWE PRICE NEW HORIZONS PRNHX 2,664.1729 0.73% 33
TIAA-CREF LIFECYCLE IDX 2020 I TLWIX 99,782.6055 6.37% 139
TIAA-CREF LIFECYCLE IDX 2025 I TLQIX 130,120.4708 8.80% 219
TIAA-CREF LIFECYCLE IDX 2030 I TLHIX 122,489.0338 8.74% 254
TIAA-CREF LIFECYCLE IDX 2035 I TLYIX 130,717.1918 9.79% 284
TIAA-CREF LIFECYCLE IDX 2040 I TLZIX 208,549.4992 16.12% 509
Total Plan Assets:
$ 29,354,562.85
Note: The default fund for your
participants is based on their
age. Each participant who does
not make fund elections will be
invested by default in the Age
Based fund.
Oakland County Retirement Health Savings Plan Asset Summary
Asset Reconciliation
As of 09/30/2020
Oakland County Retirement Health Savings Plan
continued
$ 22.83 $ 5,253,262.13
$22.92 $ 2,456,830.98
$18.35 $ 2,309,982.80
$15.83 $ 1,495,913.65
$35.45 $ 18,980.05
$ 29,354,562.85
Fund Name Ticker Share Price Share Balance Market Value Pct of
Total Assets Ppt Count
TIAA-CREF LIFECYCLE IDX 2045 I TLXIX 230,103.4661 17.90% 735
TIAA-CREF LIFECYCLE IDX 2050 I TLLIX 107,191.5787 8.37% 529
TIAA-CREF LIFECYCLE IDX 2055 I TTIIX 125,884.6210 7.87% 475
TIAA-CREF LIFECYCLE IDX RET IN TRILX 94,498.6512 5.10% 122
VICTORY SYCAMORE ESTAB VALUE A VETAX 535.4035 0.06% 11
Oakland County Retirement Health Savings Plan Asset Reconciliation
Quarterly Fund Activity
As of 09/30/2020
460112 - Oakland County Retirement Health Savings Plan$88,627.19 $1,593.30 $8,567.41 $0.00 $0.00 $86.77 $-35.47 $98,839.20 $45,009.64 $1,278.00 $5,706.32 $0.00 $0.00 $-798.29 $-28.09 $51,167.58 $4,823.16 $0.00 $80.96 $0.00 $0.00 $0.00 $-2.89 $4,901.23 $8,997.63 $261.00 $460.65 $0.00 $0.00 $-192.67 $-3.64 $9,522.97 $9,980.63 $173.40 $275.72 $0.00 $0.00 $471.58 $-6.51 $10,894.82 $34,368.11 $910.50 $1,139.32 $0.00 $0.00 $-1,014.21 $-11.68 $35,392.04 $84,587.06 $2,934.90 $2,636.97 $0.00 $0.00 $-3,362.79 $-43.11 $86,753.03 $872,518.00 $15,286.95 $78,579.53 $0.00 $0.00 $-26,348.86 $-365.52 $939,670.10 $3,508.18 $382.50 $639.28 $0.00 $0.00 $8,140.87 $-4.58 $12,666.25 $6,657.61 $190.20 $307.35 $0.00 $0.00 $-3,068.60 $-2.67 $4,083.89 $791,875.73 $2,647.50 $17.64 $0.00 $0.00 $20,723.95 $-111.01 $815,153.81 $69,469.72 $2,117.85 $3,632.38 $0.00 $0.00 $-69.96 $-45.19 $75,104.80 $0.00 $7.50 $9.02 $0.00 $0.00 $349.15 $-0.31 $365.36 $137,173.04 $2,598.75 $9,470.66 $0.00 $0.00 $329.66 $-66.68 $149,505.43 $377,983.00 $8,120.00 $62,320.96 $0.00 $0.00 $-5,389.62 $-174.50 $442,859.84 $44,318.57 $1,056.30 $3,749.35 $0.00 $0.00 $-2,142.58 $-23.86 $46,957.78 $11,925.45 $367.50 $605.58 $0.00 $0.00 $103.40 $-7.71 $12,994.22 $144,537.87 $2,598.90 $2,528.56 $0.00 $0.00 $330.36 $-52.34 $149,943.35 $24,527.22 $420.00 $692.48 $0.00 $0.00 $8,518.46 $-13.82 $34,144.34 $0.92 $0.00 $0.00 $0.00 $0.00 $-0.92 $0.00 $0.00 $185,465.59 $4,603.05 $24,043.96 $0.00 $0.00 $773.18 $-100.16 $214,785.62 $1,765,159.69 $31,162.50 $78,819.09 $0.00 $0.00 $-3,330.01 $-887.42 $1,870,923.85 $2,418,670.83 $65,362.50 $123,024.09 $0.00 $0.00 $-22,748.65 $-1,417.42 $2,582,891.35 $2,368,234.87 $76,380.00 $134,446.77 $0.00 $0.00 $-12,473.28 $-1,667.99 $2,564,920.37 $2,641,449.12 $82,425.00 $167,385.30 $0.00 $0.00 $-16,323.84 $-1,771.71 $2,873,163.87 $4,340,951.58 $115,533.00 $299,326.97 $0.00 $0.00 $-21,060.64 $-2,762.77 $4,731,988.14 $4,814,256.94 $125,827.50 $361,827.37 $0.00 $0.00 $-45,129.61 $-3,520.07 $5,253,262.13 $2,170,233.16 $192,980.00 $165,503.08 $0.00 $0.00 $-69,407.62 $-2,477.64 $2,456,830.98 $1,946,841.10 $238,995.00 $150,646.85 $0.00 $0.00 $-22,982.58 $-3,517.57 $2,309,982.80 $1,433,306.94 $19,575.00 $54,405.65 $0.00 $0.00 $-10,578.93 $-795.01 $1,495,913.65 $18,070.54 $506.40 $959.76 $0.00 $0.00 $-544.99 $-11.66 $18,980.05 $26,863,529.09 $996,295.00 $1,741,809.03 $0.00 $0.00 $-227,141.27 $-19,929.00 $29,354,562.85
Fund Name Beginning
Balance Contributions Earnings
Gain/Loss Withdrawals Loan Activity Transfers/Other Fees/Expenses Ending Balance
AMERICAN FUNDS EUROPACFIC R5E
AMERICAN FUNDS NW PRSPCTV R5
BNY MELLON GLBL FIXED INCOME A
BNY MELLON NATURAL RESOURCES I
COHEN & STEERS REALTY SHARES
DFA INFLATPROTECT SECUR PORTFO
EV ATLANTA CAPITAL SMID CAP A
FIDELITY 500 INDEX INST'L PREM
FIDELITY GROWTH COMPANY K6
FIDELITY INT'L INDEX INSTL PRE
FIDELITY INV MM GOV'T PORT III
FIDELITY SM CP IDX INSTL PREM
GS INT'L SM CAP INSIGHTS INV
JPMORGAN EQUITY INCOME R5
JPMORGAN LRG CAP GROWTH
MFS INT' L INTRINSIC VAL R3
PGIM HIGH YIELD Z
PGIM TOTAL RTRN BOND Z
PIMCO INCO ME A
PIMCO REAL RETURN FUND AT
. ROWE PRICE NEW HORIZONS
TIAA-CREF LIFECYCLE IDX 2020 I
TIAA-CREF LIFECYCLE IDX 2025 I
TIAA-CREF LIFECYCLE IDX 2030 I
TIAA-CREF LIFECYCLE IDX 2035 I
TIAA-CREF LIFECYCLE IDX 2040 I
TIAA-CREF LIFECYCLE IDX 2045 I
TIAA-CREF LIFECYCLE IDX 2050 I
TIAA-CREF LIFECYCLE IDX 2055 I
TIAA-CREF LIFECYCLE IDX RET IN
VICTORY SYCAMORE ESTAB VALUE A
Oakland County Retirement Health Savings Plan Look Back Report
As of 09/30/2020
460112 - Oakland County Retirement Health Savings Plan
$ 0 $ 21,517,925 $ 26,004,847 $ 29,354,563
Total Plan Balance ($)
Average Participant Balance ($)
$ 0 $ 9,922 $ 10,736 $ 13,084
36 months
prior
24 months
prior
12 months
prior
As of
09/30/2020
0
10,000,000
20,000,000
30,000,000
40,000,000
36 months
prior
24 months
prior
12 months
prior
As of
09/30/2020
0
5,000
10,000
15,000
Oakland County Retirement Health Savings Plan Average Balances
Balance by Age and Service Groups
As of 09/30/2020
460112 - Oakland County Retirement Health Savings Plan
Percent of Total Balance By Service
$ 2,839,989 $ 7,065 11.18 %
$8,527,214 $ 12,900 33.58 %
$6,836,725 $ 15,159 26.92 %
$4,947,464 $ 14,813 19.48 %
$2,241,547 $ 16,981 8.83 %
$25,392,939 $ 12,825 100.00 %
Age
Group Nbr of Ppts Total
Balance
Avg
Balance
Pct by
Age
<30 402
30-39 661
40-49 451
50-59 334
60+ 132
Total 1,980
Average Balances by Age Group
The balance illustrated in the "Balance by Age" table below depicts the average balances by Age Group within the Plan. For purposes of the
illustration, the 'Nbr of Ppts" (Number of Participants) includes all employess with a balance. (See Additional Criteria).
Average Balances by Length of Service
The data illustrated in the "Balance by Service" table below depicts the average balances by Service Group wthin the Plan. For purposes of the
illustration, the "Nbr of Ppts" (Number of Participants) includes all employess with a balance. (See Additional Criteria).
$ 0 $ 0 0 %
$18,483,334 $ 10,460 72.79 %
$6,463,656 $ 31,841 25.45 %
$445,948 $ 44,595 1.76 %
$25,392,939 $ 12,825 100 %
Yrs of Svc Nbr of Ppts Total Balance Avg Balance Pct by Svc
<1 0
1-9 1,767
10-19 203
20+ 10
Total 1,980
Percent of Total Balance by Age
Additional Criteria used to
calculate Averages:
The total illustrated in the
sections above may differ
from other Plan level reports
based on the following
criteria. If applicable, those
differences are accounted for
below:
-Participants not Counted
-Misc Unallocated Balances
Oakland County Retirement Health Savings Plan Plan Participation
As of 09/30/2020
460112 - Oakland County Retirement Health Savings Plan
Active 1,985 90.15% Terminated 232 10.54% Total 2,202 100%
Employees recently hired and others not reported as of 09/30/2020 are not included in the illustration below.
Active 89.54%
Terminated 10.46%
Oakland County Retirement Health Savings Plan Web Statistics
Breakdown of Web and Go Green Usage
As of 09/30/2020
460112 - Oakland County Retirement Health Savings Plan
Total Participants with a balance 2202
Count Percent
Total unique Ppt logins to the website 22 1.00 %
Total Ppts who have 'Gone Green' for Quarterly Statements 8 0.36 %
Total Ppts who have 'Gone Green' for Notices and Confirms 2,152 97.73 %
Total Ppts who have provided their e-mail address 2,187 99.32 %
BPAS strongly encourages participant
activity through the website. It allows for
mor e immediate communication. The "Go
Green" initiative to increase participant
web activity includes data for the last 3
months.
Participant Web Go Green Statistics (Quarterly)
Participant Web Activity (this does not include IVR transactions)
Encourage your
plan p articipants
to join BPAS in
helping the
environment and
Go Green
Percent to Percent Transfer 11
Investment Election Change 7
Auto Rebalance Opt out 1
Auto Rebalance Opt-in 1
Rebalance 2