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VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN 401k Plan overview

Plan NameVALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN
Plan identification number 003

VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

VALLEY HEALTH has sponsored the creation of one or more 401k plans.

Company Name:VALLEY HEALTH
Employer identification number (EIN):521357729
NAIC Classification:622000
NAIC Description: Hospitals

Additional information about VALLEY HEALTH

Jurisdiction of Incorporation: Virginia Secretary of State
Incorporation Date: 1983-10-07
Company Identification Number: 0247308
Legal Registered Office Address: 220 CAMPUS BLVD STE 420

WINCHESTER
United States of America (USA)
22601

More information about VALLEY HEALTH

Form 5500 Filing Information

Submission information for form 5500 for 401k plan VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0032022-01-01
0032022-01-01
0032021-01-01
0032021-01-01

Plan Statistics for VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN

401k plan membership statisitcs for VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN

Measure Date Value
2022: VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN 2022 401k membership
Market value of plan assets2022-12-31361,172,207
Acturial value of plan assets2022-12-31365,460,425
Funding target for retired participants and beneficiaries receiving payment2022-12-31128,047,402
Number of terminated vested participants2022-12-311,365
Fundng target for terminated vested participants2022-12-3161,644,209
Active participant vested funding target2022-12-31104,681,988
Number of active participants2022-12-311,690
Total funding liabilities for active participants2022-12-31105,191,755
Total participant count2022-12-314,661
Total funding target for all participants2022-12-31294,883,366
Balance at beginning of prior year after applicable adjustments2022-12-310
Prefunding balance at beginning of prior year after applicable adjustments2022-12-310
Amount remaining of carryover balance2022-12-310
Amount remaining of prefunding balance2022-12-310
Present value of excess contributions2022-12-3112,507,321
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2022-12-3113,220,238
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2022-12-310
Reductions in caryover balances due to elections or deemed elections2022-12-310
Reductions in prefunding balances due to elections or deemed elections2022-12-310
Balance of carryovers at beginning of current year2022-12-310
Balance of prefunding at beginning of current year2022-12-310
Total employer contributions2022-12-3114,357,544
Total employee contributions2022-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2022-12-310
Contributions made to avoid restrictions adjusted to valuation date2022-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2022-12-3113,433,929
Unpaid minimum required contributions for all prior years2022-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2022-12-310
Remaining amount of unpaid minimum required contributions2022-12-310
Minimum required contributions for current year target normal cost2022-12-313,197,446
Net shortfall amortization installment of oustanding balance2022-12-310
Waiver amortization installment2022-12-310
Total funding amount beforereflecting carryover/prefunding balances2022-12-310
Carryover balance elected to use to offset funding requirement2022-12-310
Prefunding balance elected to use to offset funding requirement2022-12-310
Additional cash requirement2022-12-310
Contributions allocatedtoward minimum required contributions for current year2022-12-3113,433,929
Unpaid minimum required contributions for current year2022-12-310
Unpaid minimum required contributions for all years2022-12-310
Total participants, beginning-of-year2022-01-014,661
Total number of active participants reported on line 7a of the Form 55002022-01-011,512
Number of retired or separated participants receiving benefits2022-01-011,588
Number of other retired or separated participants entitled to future benefits2022-01-011,347
Total of all active and inactive participants2022-01-014,447
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2022-01-01171
Total participants2022-01-014,618
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2022-01-010
2021: VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN 2021 401k membership
Market value of plan assets2021-12-31361,210,657
Acturial value of plan assets2021-12-31329,476,283
Funding target for retired participants and beneficiaries receiving payment2021-12-31117,386,118
Number of terminated vested participants2021-12-311,300
Fundng target for terminated vested participants2021-12-3155,045,682
Active participant vested funding target2021-12-31110,852,487
Number of active participants2021-12-311,874
Total funding liabilities for active participants2021-12-31111,548,248
Total participant count2021-12-314,712
Total funding target for all participants2021-12-31283,980,048
Balance at beginning of prior year after applicable adjustments2021-12-310
Prefunding balance at beginning of prior year after applicable adjustments2021-12-310
Carryover balanced portion elected for use to offset prior years funding requirement2021-12-310
Prefunding balanced used to offset prior years funding requirement2021-12-310
Amount remaining of carryover balance2021-12-310
Amount remaining of prefunding balance2021-12-310
Present value of excess contributions2021-12-318,855,320
Total available prior years excess cotributions available at beginning of current plan year to add to prefunding balance2021-12-319,343,688
Total available prior years excess cotributions added at beginning of current plan year to add to prefunding balance2021-12-310
Reductions in caryover balances due to elections or deemed elections2021-12-310
Reductions in prefunding balances due to elections or deemed elections2021-12-310
Balance of carryovers at beginning of current year2021-12-310
Balance of prefunding at beginning of current year2021-12-310
Total employer contributions2021-12-3113,397,631
Total employee contributions2021-12-310
Contributions allocated toward unpaid minimum require contributions from prior years2021-12-310
Contributions made to avoid restrictions adjusted to valuation date2021-12-310
Contributions allocated toward minimum required contributions for current year adjusted to valuation date2021-12-3112,507,321
Unpaid minimum required contributions for all prior years2021-12-310
iDiscounted employer contributions allocated toward unpaid minimum required contributions from prior years2021-12-310
Remaining amount of unpaid minimum required contributions2021-12-310
Minimum required contributions for current year target normal cost2021-12-311,216,718
Net shortfall amortization installment of oustanding balance2021-12-310
Waiver amortization installment2021-12-310
Total funding amount beforereflecting carryover/prefunding balances2021-12-310
Additional cash requirement2021-12-310
Contributions allocatedtoward minimum required contributions for current year2021-12-3112,507,321
Unpaid minimum required contributions for current year2021-12-310
Unpaid minimum required contributions for all years2021-12-310
Total participants, beginning-of-year2021-01-014,765
Total number of active participants reported on line 7a of the Form 55002021-01-011,690
Number of retired or separated participants receiving benefits2021-01-011,493
Number of other retired or separated participants entitled to future benefits2021-01-011,312
Total of all active and inactive participants2021-01-014,495
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2021-01-01166
Total participants2021-01-014,661
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2021-01-010

Financial Data on VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN

Measure Date Value
2022 : VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN 2022 401k financial data
Total unrealized appreciation/depreciation of assets2022-12-31$0
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2022-12-31$0
Total income from all sources (including contributions)2022-12-31$-74,330,946
Total loss/gain on sale of assets2022-12-31$0
Total of all expenses incurred2022-12-31$16,852,011
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2022-12-31$12,887,227
Total contributions o plan (from employers,participants, others, non cash contrinutions)2022-12-31$14,357,544
Value of total assets at end of year2022-12-31$270,191,839
Value of total assets at beginning of year2022-12-31$361,374,796
Total of administrative expenses incurred including professional, contract, advisory and management fees2022-12-31$3,964,784
Total interest from all sources2022-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2022-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2022-12-31No
Was this plan covered by a fidelity bond2022-12-31Yes
Value of fidelity bond cover2022-12-31$10,000,000
If this is an individual account plan, was there a blackout period2022-12-31No
Were there any nonexempt tranactions with any party-in-interest2022-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Value of net income/loss2022-12-31$-91,182,957
Value of net assets at end of year (total assets less liabilities)2022-12-31$270,191,839
Value of net assets at beginning of year (total assets less liabilities)2022-12-31$361,374,796
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2022-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2022-12-31No
Were any leases to which the plan was party in default or uncollectible2022-12-31No
Investment advisory and management fees2022-12-31$3,964,784
Value of interest in master investment trust accounts at end of year2022-12-31$257,377,533
Value of interest in master investment trust accounts at beginning of year2022-12-31$346,857,127
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2022-12-31$1,864,306
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2022-12-31$4,295,037
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2022-12-31$4,295,037
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2022-12-31No
Was there a failure to transmit to the plan any participant contributions2022-12-31No
Has the plan failed to provide any benefit when due under the plan2022-12-31No
Contributions received in cash from employer2022-12-31$14,357,544
Employer contributions (assets) at end of year2022-12-31$10,950,000
Employer contributions (assets) at beginning of year2022-12-31$10,222,632
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2022-12-31$12,887,227
Did the plan have assets held for investment2022-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2022-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2022-12-31No
Opinion of an independent qualified public accountant for this plan2022-12-31Disclaimer
Accountancy firm name2022-12-31BAKER TILLEY US, LLP
Accountancy firm EIN2022-12-31390859910
2021 : VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN 2021 401k financial data
Total unrealized appreciation/depreciation of assets2021-12-31$0
Total transfer of assets to this plan2021-12-31$351,866,967
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2021-12-31$0
Total income from all sources (including contributions)2021-12-31$11,068,547
Total loss/gain on sale of assets2021-12-31$0
Total of all expenses incurred2021-12-31$11,783,350
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2021-12-31$11,783,350
Total contributions o plan (from employers,participants, others, non cash contrinutions)2021-12-31$12,699,996
Value of total assets at end of year2021-12-31$351,152,164
Value of total assets at beginning of year2021-12-31$0
Total of administrative expenses incurred including professional, contract, advisory and management fees2021-12-31$0
Total interest from all sources2021-12-31$452
Total dividends received (eg from common stock, registered investment company shares)2021-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2021-12-31No
Was this plan covered by a fidelity bond2021-12-31Yes
Value of fidelity bond cover2021-12-31$10,000,000
If this is an individual account plan, was there a blackout period2021-12-31No
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2021-12-31$0
Were there any nonexempt tranactions with any party-in-interest2021-12-31No
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Value of net income/loss2021-12-31$-714,803
Value of net assets at end of year (total assets less liabilities)2021-12-31$351,152,164
Value of net assets at beginning of year (total assets less liabilities)2021-12-31$0
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2021-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2021-12-31No
Were any leases to which the plan was party in default or uncollectible2021-12-31No
Investment advisory and management fees2021-12-31$1,848,398
Value of interest in master investment trust accounts at end of year2021-12-31$346,857,127
Value of interest in master investment trust accounts at beginning of year2021-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2021-12-31$4,295,037
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2021-12-31$0
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2021-12-31$0
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2021-12-31$452
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2021-12-31No
Was there a failure to transmit to the plan any participant contributions2021-12-31No
Has the plan failed to provide any benefit when due under the plan2021-12-31No
Contributions received in cash from employer2021-12-31$12,699,996
Employer contributions (assets) at end of year2021-12-31$0
Employer contributions (assets) at beginning of year2021-12-31$0
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2021-12-31$11,783,350
Did the plan have assets held for investment2021-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2021-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2021-12-31No
Opinion of an independent qualified public accountant for this plan2021-12-31Disclaimer
Accountancy firm name2021-12-31BAKER TILLEY US, LLP
Accountancy firm EIN2021-12-31390859910

Form 5500 Responses for VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN

2022: VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN 2022 form 5500 responses
2022-01-01Type of plan entitySingle employer plan
2022-01-01Submission has been amendedNo
2022-01-01This submission is the final filingNo
2022-01-01This return/report is a short plan year return/report (less than 12 months)No
2022-01-01Plan is a collectively bargained planNo
2022-01-01Plan funding arrangement – TrustYes
2022-01-01Plan benefit arrangement - TrustYes
2021: VALLEY HEALTH SYSTEM MERGED DEFINED BENEFIT PLAN 2021 form 5500 responses
2021-01-01Type of plan entitySingle employer plan
2021-01-01First time form 5500 has been submittedYes
2021-01-01Submission has been amendedNo
2021-01-01This submission is the final filingNo
2021-01-01This return/report is a short plan year return/report (less than 12 months)No
2021-01-01Plan is a collectively bargained planNo
2021-01-01Plan funding arrangement – TrustYes
2021-01-01Plan benefit arrangement - TrustYes

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