Blue Cross and Blue Shield Association 401(k) Review & Grade
Blue Cross and Blue Shield Association Tax-Favored Savings Program
Chicago, ILProfessional, Scientific & Technical Services1,226 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$10,693Employer $ per active participant
$14,859Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$479.8MNet plan assets, end of year
$260,062Average balance per account
Score breakdown
- Employer generosity46.1 / 5092th percentile for employer $ per participant
- Low cost20.6 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving13.1 / 1588th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score87 / 100 · Grade A
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 82th |
| Employee saving | 88th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Corrective distributions: the plan refunded $12,802 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Blue Cross and Blue Shield Association put in about $10,693 per active participant, more than the typical peer ($3,082). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $13,109,242 |
| Participant (employee) contributions | $18,216,823 |
| Other contributions (incl. rollovers in) | $4,277,208 |
| Administrative expenses paid from the plan | $302,277 |
| Investment advisory & management fees | $261,426 |
| Benefits paid out | $44,377,451 |
| Net assets, start / end of year | $424.9M / $479.8M |
| Active participants, start / end of year | 1,238 / 1,214 |
| Participants with account balances | 1,845 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | KPMG |
Largest service providers (Schedule C)
| Financial Engines | $261,426 reported compensation |
| Fidelity Investments Institutional | $41,709 reported compensation |
| Ss&c | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250925112519NAL0009117424001, received 2025-09-25, EIN 13-5656874, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.