Industrial Bank 401(K) Profit Sharing Plan — Form 5500 plan (Industrial 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, Industrial Bank 401(K) Profit Sharing Plan is a benefit plan reported by Industrial Bank under EIN 53-0088120 and plan number 003. The latest loaded filing year is 2023. The filing reports 158 participants and $14,411,798 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Industrial Bank
- EIN
- 53-0088120
- Plan number
- 003
- Plan type
- 2
- Location
- Largo, MD
- Latest filing year
- 2023
- Participants
- 158
- End-of-year plan assets
- $14,411,798
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 158 | H, C | 20241015104914NAL0029308225001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $14,411,798
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $14,411,798
- Net assets (BOY)
- $12,811,139
Income & contributions
- Employer contributions
- $352,178
- Participant contributions
- $841,027
- Total contributions
- $1,239,773
- Total income / additions
- $3,052,237
Expenses & distributions
- Benefits paid
- $1,389,588
- Administrative expenses
- $61,819
- Total expenses
- $1,451,578
- Net increase / (decrease)
- $1,600,659
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Empower Annuity Insurance Company O | RECORDKEEPER | $54,862 | $0 | 2023 |
| Osaic Wealth, Inc | BROKER/ADVISER | $0 | $29,982 | 2023 |
| Empower Advisory Group, LLC | INVESTMENT MGMT | $6,957 | not reported in the loaded dataset | 2023 |