Blue Cross and Blue Shield of Mississippi, a Mutual Insurance Company 401(k) Review & Grade
Tax Favored Savings Program
Flowood, MSFinance & Insurance508 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$10,640Employer $ per active participant
$7,296Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$121.9MNet plan assets, end of year
$167,743Average balance per account
Score breakdown
- Employer generosity46.2 / 5092th percentile for employer $ per participant
- Low cost22.6 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving7.9 / 1553th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score87 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 92th |
| Lower admin cost | 90th |
| Employee saving | 53th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Blue Cross and Blue Shield of Mississippi, a Mutual Insurance put in about $10,640 per active participant, more than the typical peer ($3,606). 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 | $5,405,169 |
| Participant (employee) contributions | $3,706,115 |
| Other contributions (incl. rollovers in) | $41,487 |
| Administrative expenses paid from the plan | $45,630 |
| Benefits paid out | $10,568,825 |
| Net assets, start / end of year | $106.5M / $121.9M |
| Active participants, start / end of year | 504 / 512 |
| Participants with account balances | 727 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Carr, Riggs & Ingram, LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $45,630 reported compensation |
| Ss&c | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014154621NAL0006659202001, received 2025-10-14, EIN 64-0295748, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.