Independence Bancshares 401(k) match, vesting and fees
What Independence Bancshares' 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Riney Hancock Cpas Psc (unmodified opinion) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2024 medians for 655 defined-contribution plans in finance and insurance with 500 to 999 participants.
| Independence Bancshares: employer contribution per participant | $1,413 | |
| Peer median | $2,935 |
| Independence Bancshares: average balance | $134,369 | |
| Peer median | $92,770 |
| Independence Bancshares: admin expenses ÷ assets | 0.15% | |
| Peer median | 0.15% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $93.2M at the end of plan year 2021 to $81.8M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 649 | $81.8M | $860K | $1,413 | 0.15% | Not published | Form 5500 ↗ |
| 2023 | 615 | $80.3M | $863K | $1,533 | 0.15% | Not published | Form 5500 ↗ |
| 2022 | 612 | $87.5M | $796K | $1,437 | 0.15% | Not published | Form 5500 ↗ |
| 2021 | 468 | $93.2M | $711K | $1,606 | 0.12% | Not published | Form 5500 ↗ |
Common questions
Does Independence Bancshares match 401(k) contributions?
The match terms for the Independence Bancshares, Inc. Employee Stock Ownership Plan (With 401(k) Provisions) have not been published from its filing yet. The plan year 2024 filing reports $860K in employer contributions, about $1,413 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Independence Bancshares 401(k) match vested?
The vesting schedule for the Independence Bancshares, Inc. Employee Stock Ownership Plan (With 401(k) Provisions) is not in the data published so far. Your Summary Plan Description states it.
Who manages the Independence Bancshares 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Principal Life Insurance Company. The plan administrator is Independence Bancshares, Inc..
I left Independence Bancshares. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Independence Bancshares, Inc., (270) 686-1776) or the recordkeeper, Principal Life Insurance Company. The Independence Bancshares old 401(k) page lists the contacts from every plan filing. Find an old Independence Bancshares 401(k)
Data from the public Form 5500 annual reports Independence Bancshares filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Independence Bancshares. Not financial advice. Report a correction · Methodology