2023 Form 5500 filing — Independent Bank Corporation 401(K) Plan
Plain-English filing 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, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20240731091755NAL0033614672001) for Independent Bank Corporation 401(K) Plan, reported by Independent Bank Corporation under EIN 38-2032782 and plan number 003. It reports 1,323 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20240731091755NAL0033614672001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Independent Bank Corporation
- EIN
- 38-2032782
- Plan number
- 003
- Location
- Ionia, MI
- Participants
- 1,323
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $88,751,664
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $88,751,664
- Employer contributions
- $2,114,097
- Participant contributions
- $6,021,424
- Total income / additions
- $22,370,964
- Benefits paid
- $12,106,348
- Administrative expenses
- $216,439
- Total expenses
- $12,323,087
- Net increase / (decrease)
- $10,047,877
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $212,197 | $0 |
| Institutional Investment Consulting | INVESTMENT ADVISORY | $0 | $50,000 |
| Rehmann Robson | ACCOUNTANT | $4,242 | $8,508 |