Independent Bank 401(K) Plan — Form 5500 plan (Independent Bank)
Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Independent Bank 401(K) Plan is a benefit plan reported by Independent Bank under EIN 62-1730983 and plan number 001. The latest loaded filing year is 2023. The filing reports 261 participants and $21,644,711 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Independent Bank
- EIN
- 62-1730983
- Plan number
- 001
- Plan type
- 2
- Location
- Memphis, TN
- Latest filing year
- 2023
- Participants
- 261
- End-of-year plan assets
- $21,644,711
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 261 | H, C | 20241015133459NAL0014731571001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $21,644,711
- Total liabilities (EOY)
- $2,768
- Net assets (EOY)
- $21,641,943
- Net assets (BOY)
- $17,727,718
Income & contributions
- Employer contributions
- $524,697
- Participant contributions
- $1,386,031
- Total contributions
- $1,959,004
- Total income / additions
- $4,978,494
Expenses & distributions
- Benefits paid
- $1,004,019
- Administrative expenses
- $60,250
- Total expenses
- $1,064,269
- Net increase / (decrease)
- $3,914,225
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| John Hancock Retirement Plan Servic | CUSTODIAN, RECORDKEEPER | $38,811 | not reported in the loaded dataset | 2023 |
| Pinpoint Financial, LLC | TPA | $9,248 | not reported in the loaded dataset | 2023 |
| Culver Pllc | CPA | $8,000 | not reported in the loaded dataset | 2023 |