HomeMy WebLinkAboutReports - 2022.03.17 - 35412BPAS offices in Rochester, Syracuse, Utica & New York | Philadelphia & Pittsburgh, PA | Houston, TX | E. Hanover, NJ | San Juan, PR
Justin Kemmerlin, VEBA Plan Consultant |p: (713)744-3804 | 866-401-5272e: JKemmerlin@bpas.com | w: bpas.com
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Oakland County Retirement Health Savings Plan
2021 - 4Q Report
October 1 - December 31
Oakland County Retirement Health Savings Plan
As of 12/31/2021
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
$ 41,691,416 $ 16,865
Plan ID and Plan Name Ppts Plan Market Value Avg Ppt Balance
460112 - Oakland County Retirement Health Savings Plan 2472
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 12/31/2021
460112 - Oakland County Retirement Health Savings Plan
Your Plan's YTD Rate of Return as of 12/31/2021 13.90 %
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 4.99 % 13.90 % 13.90 % 19.47 % 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 20 25
Oakland County Retirement Health Savings Plan Asset Summary
Asset Reconciliation
As of 12/31/2021
460112 - Oakland County Retirement Health Savings Plan
Stable Value $615,264.11
Bonds $261,310.09
Equities $3,385,515.02
Balanced $37,429,326.44
Employer Stock $0.00
Collective Inv Trust $0.00
Participant Loans $0.00
Insurance $0.00
Other $0.00
Stable Value 1.48%
Bonds 0.63%
Equities 8.12%
Balanced 89.78%
Employer Stock 0%
Collective Inv Trust 0%
Participant Loans 0%
Insurance 0%
Other 0%
$ 64.26 $ 124,524.95
$66.34 $ 79,829.04
$47.94 $ 152,485.01
$21.50 $ 6,787.89
$42.03 $ 17,456.19
$83.48 $ 21,796.26
$35.27 $ 2,268.35
$13.31 $ 53,266.29
$165.32 $ 1,425,871.93
$22.88 $ 55,865.77
$49.29 $ 21,531.03
$27.56 $ 128,893.18
$13.75 $ 2.98
$23.87 $ 249,300.12
$64.84 $ 710,090.07
$52.50 $ 64,641.13
$5.50 $ 14,235.96
$14.47 $ 163,735.03
$11.94 $ 21,016.57
$76.81 $ 296,005.37
$20.44 $ 2,274,642.61
$22.44 $ 3,245,465.51
$24.45 $ 3,458,902.35
$26.37 $ 4,093,212.96
$27.93 $ 6,653,804.35
$29.00 $ 7,465,337.93
Fund Name Ticker Share Price Share Balance Market Value Pct of
Total Assets Ppt Count
AMERICAN FUNDS EUROPACFIC R5E RERHX 1,937.8299 0.30% 31
AMERICAN FUNDS NW PRSPCTV R5 RNPFX 1,203.3320 0.19% 25
BLACKROCK MID-CAP GR EQUITY I CMGIX 3,180.7471 0.37% 45
BNY MELLON GLBL FIXED INCOME A DHGAX 315.7159 0.02% 2
BNY MELLON NATURAL RESOURCES I DLDRX 415.3269 0.04% 8
COHEN & STEERS REALTY SHARES CSRSX 261.0956 0.05% 12
COLUMBIA FLOATING RATE I3 CFRYX 64.3139 0.01% 1
DFA INFLATPROTECT SECUR PORTFO DIPSX 4,001.9749 0.13% 12
FIDELITY 500 INDEX INST'L PREM FXAIX 8,624.9209 3.42% 87
FIDELITY GROWTH COMPANY K6 FGKFX 2,441.6859 0.13% 16
FIDELITY INT'L INDEX INSTL PRE FSPSX 436.8235 0.05% 8
FIDELITY SM CP IDX INSTL PREM FSSNX 4,676.8206 0.31% 44
GS INT'L SM CAP INSIGHTS INV GIRLX 0.2167 0.00% 1
JPMORGAN EQUITY INCOME R5 OIERX 10,444.0769 0.60% 36
JPMORGAN LRG CAP GROWTH JLGMX 10,951.4200 1.70% 67
MFS INT' L INTRINSIC VAL R3 MINGX 1,231.2597 0.16% 18
PGIM HIGH YIELD Z PHYZX 2,588.3560 0.03% 6
PGIM TOTAL RTRN BOND Z PDBZX 11,315.4826 0.39% 25
PIMCO INCOME A PONAX 1,760.1814 0.05% 10
T. ROWE PRICE NEW HORIZONS PRNHX 3,853.7348 0.71% 45
TIAA-CREF LIFECYCLE IDX 2020 I TLWIX 111,283.8850 5.46% 153
TIAA-CREF LIFECYCLE IDX 2025 I TLQIX 144,628.5878 7.78% 246
TIAA-CREF LIFECYCLE IDX 2030 I TLHIX 141,468.3987 8.30% 300
TIAA-CREF LIFECYCLE IDX 2035 I TLYIX 155,222.3347 9.82% 357
TIAA-CREF LIFECYCLE IDX 2040 I TLZIX 238,231.4482 15.96% 568
TIAA-CREF LIFECYCLE IDX 2045 I TLXIX 257,425.4460 17.91% 789
Total Plan Assets:
$ 41,691,415.66
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 12/31/2021
Oakland County Retirement Health Savings Plan
continued
$ 29.39 $ 4,177,497.31
$23.69 $ 4,028,133.08
$18.32 $ 384,034.97
$13.06 $ 41,447.83
$17.11 $ 1,606,847.54
$1.00 $ 615,264.11
$46.45 $ 4,502.07
$49.61 $ 32,719.92
$ 41,691,415.66
Fund Name Ticker Share Price Share Balance Market Value Pct of
Total Assets Ppt Count
TIAA-CREF LIFECYCLE IDX 2050 I TLLIX 142,140.0923 10.02% 580
TIAA-CREF LIFECYCLE IDX 2055 I TTIIX 170,035.1661 9.66% 582
TIAA-CREF LIFECYCLE IDX 2060 I TVIIX 20,962.6074 0.92% 219
TIAA-CREF LIFECYCLE IDX 2065 I TFITX 3,173.6469 0.10% 29
TIAA-CREF LIFECYCLE IDX RET IN TRILX 93,912.7728 3.85% 117
VANGUARD FEDERAL MONEY MARKET VMFXX 615,264.1100 1.48% 26
VANGUARD FTSE SOCIAL INDEX ADM VFTAX 96.9230 0.01% 5
VICTORY SYCAMORE ESTAB VALUE A VETAX 659.5428 0.08% 13
Oakland County Retirement Health Savings Plan Asset Reconciliation
Quarterly Fund Activity
As of 12/31/2021
460112 - Oakland County Retirement Health Savings Plan$124,296.55 $1,620.00 $-1,477.16 $0.00 $0.00 $117.46 $-31.90 $124,524.95 $73,070.54 $1,879.50 $4,930.53 $0.00 $0.00 $-21.22 $-30.31 $79,829.04 $146,998.86 $2,641.75 $3,771.79 $0.00 $0.00 $-871.99 $-55.40 $152,485.01 $6,820.42 $31.50 $-38.70 $0.00 $0.00 $-22.54 $-2.79 $6,787.89 $15,757.63 $325.50 $1,648.15 $0.00 $0.00 $-267.80 $-7.29 $17,456.19 $19,341.11 $194.00 $3,049.05 $0.00 $0.00 $-779.43 $-8.47 $21,796.26 $2,258.32 $0.00 $10.48 $0.00 $0.00 $0.00 $-0.45 $2,268.35 $49,729.89 $1,272.00 $1,003.10 $0.00 $0.00 $1,274.60 $-13.30 $53,266.29 $1,264,055.31 $16,607.50 $140,048.00 $0.00 $0.00 $5,542.71 $-381.59 $1,425,871.93 $33,616.10 $2,645.50 $1,640.75 $0.00 $0.00 $18,000.13 $-36.71 $55,865.77 $19,277.17 $639.00 $621.84 $0.00 $0.00 $1,000.85 $-7.83 $21,531.03 $122,261.91 $2,863.75 $2,500.55 $0.00 $0.00 $1,319.39 $-52.42 $128,893.18 $17.67 $0.00 $-0.44 $0.00 $0.00 $-11.67 $-2.58 $2.98 $227,372.13 $3,028.00 $19,869.92 $0.00 $0.00 $-896.38 $-73.55 $249,300.12 $651,214.52 $10,976.50 $53,767.85 $0.00 $0.00 $-5,659.83 $-208.97 $710,090.07 $59,691.57 $1,156.75 $4,096.10 $0.00 $0.00 $-278.29 $-25.00 $64,641.13 $13,917.26 $357.00 $87.32 $0.00 $0.00 $-118.70 $-6.92 $14,235.96 $165,835.52 $2,583.50 $477.16 $0.00 $0.00 $-5,117.33 $-43.82 $163,735.03 $21,264.30 $505.00 $13.93 $0.00 $0.00 $-758.64 $-8.02 $21,016.57 $293,666.88 $5,956.75 $-12,576.51 $0.00 $0.00 $9,067.63 $-109.38 $296,005.37 $2,190,082.82 $29,031.25 $71,605.61 $0.00 $0.00 $-15,187.25 $-889.82 $2,274,642.61 $3,073,382.49 $72,017.50 $115,101.68 $0.00 $0.00 $-13,578.89 $-1,457.27 $3,245,465.51 $3,268,808.76 $85,287.50 $139,466.46 $0.00 $0.00 $-32,903.27 $-1,757.10 $3,458,902.35 $3,812,629.10 $117,868.75 $181,865.15 $0.00 $0.00 $-17,165.21 $-1,984.83 $4,093,212.96 $6,214,025.37 $138,534.75 $328,298.94 $0.00 $0.00 $-24,102.94 $-2,951.77 $6,653,804.35 $6,940,867.32 $160,910.00 $405,655.20 $0.00 $0.00 $-38,553.17 $-3,541.42 $7,465,337.93 $3,752,853.63 $206,987.50 $228,577.34 $0.00 $0.00 $-8,241.69 $-2,679.47 $4,177,497.31 $3,677,761.19 $237,878.75 $226,074.82 $0.00 $0.00 $-110,020.16 $-3,561.52 $4,028,133.08 $248,355.24 $129,675.00 $17,438.14 $0.00 $0.00 $-10,441.60 $-991.81 $384,034.97
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
BLACKROCK MID-CAP GR EQUITY I
BNY MELLON GLBL FIXED INCOME A
BNY MELLON NATURAL RESOURCES I
COHEN & STEERS REALTY SHARES
COLUMBIA FLOATING RATE I3
DFA INFLATPROTECT SECUR PORTFO
FIDELITY 500 INDEX INST'L PREM
FIDELITY GROWTH COMPANY K6
FIDELITY INT'L INDEX INSTL PRE
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 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 2060 I
Oakland County Retirement Health Savings Plan Asset Reconciliation
Quarterly Fund Activity
As of 12/31/2021
460112 - Oakland County Retirement Health Savings Plan
continued$20,096.61 $16,537.50 $1,573.41 $0.00 $0.00 $3,410.63 $-170.32 $41,447.83 $1,579,337.49 $10,381.25 $41,986.58 $0.00 $0.00 $-24,143.38 $-714.40 $1,606,847.54 $1,336,005.90 $2,698.75 $24.49 $0.00 $0.00 $-723,360.72 $-104.31 $615,264.11 $3,718.92 $372.75 $415.34 $0.00 $0.00 $0.00 $-4.94 $4,502.07 $30,092.15 $660.25 $2,404.14 $0.00 $0.00 $-422.30 $-14.32 $32,719.92 $39,458,480.65 $1,264,125.00 $1,983,931.01 $0.00 $0.00 $-993,191.00 $-21,930.00 $41,691,415.66
Fund Name Beginning
Balance Contributions Earnings
Gain/Loss Withdrawals Loan Activity Transfers/Other Fees/Expenses Ending Balance
TIAA-CREF LIFECYCLE IDX 2065 I
TIAA-CREF LIFECYCLE IDX RET INV
ANGUARD FEDERAL MONEY MARKETV
ANGUARD FTSE SOCIAL INDEX ADM
VICTORY SYCAMORE ESTAB VALUE A
Oakland County Retirement Health Savings Plan Look Back Report
As of 12/31/2021
460112 - Oakland County Retirement Health Savings Plan
$ 20,474,648 $ 27,484,936 $ 33,861,796 $ 41,691,416
Total Plan Balance ($)
Average Participant Balance ($)
$ 8,927 $ 11,512 $ 14,699 $ 16,724
36 months
prior
24 months
prior
12 months
prior
As of
12/31/2021
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
36 months
prior
24 months
prior
12 months
prior
As of
12/31/2021
5,000
10,000
15,000
20,000
Oakland County Retirement Health Savings Plan Average Balances
Balance by Age and Service Groups
As of 12/31/2021
460112 - Oakland County Retirement Health Savings Plan
Percent of Total Balance By Service
$ 3,059,755 $ 7,947 8.51 %
$13,018,420 $ 17,545 36.23 %
$9,729,049 $ 19,536 27.07 %
$6,878,536 $ 18,491 19.14 %
$3,248,937 $ 19,111 9.04 %
$35,934,697 $ 16,583 100.00 %
Age
Group Nbr of Ppts Total
Balance
Avg
Balance
Pct by
Age
<30 385
30-39 742
40-49 498
50-59 372
60+ 170
Total 2,167
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 %
$25,641,149 $ 13,574 71.35 %
$9,955,898 $ 37,288 27.71 %
$337,649 $ 30,695 0.94 %
$35,934,697 $ 16,583 100 %
Yrs of Svc Nbr of Ppts Total Balance Avg Balance Pct by Svc
<1 0
1-9 1,889
10-19 267
20+ 11
Total 2,167
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 12/31/2021
460112 - Oakland County Retirement Health Savings Plan
Active 2,177 88.07% Terminated 298 12.06% Total 2,472 100%
Employees recently hired and others not reported as of 12/31/2021 are not included in the illustration below.
Active 87.96%
Terminated 12.04%
Oakland County Retirement Health Savings Plan Web Statistics
Breakdown of Web and Go Green Usage
As of 12/31/2021
460112 - Oakland County Retirement Health Savings Plan
Total Participants with a balance 2472
Count Percent
Total unique Ppt logins to the website 3 0.12 %
Total Ppts who have 'Gone Green' for Quarterly Statements 13 0.53 %
Total Ppts who have 'Gone Green' for Notices and Confirms 2,404 97.25 %
Total Ppts who have provided their e-mail address 2,457 99.39 %
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
Investment Election Change 5
Dollar to Percent 1
Percent to Percent Transfer 6
Rebalance 1