Plan Snapshot
- Plan Sponsor: Iba Group Insurance Trust
- Sponsor EIN: 356259970
- Sponsor Address: 8425 WOODFIELD CROSSING BOULEVARD, INDIANAPOLIS, IN, 46254
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 1,499
- Total Assets: $11.5M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 1,499 | $11.5M | $48.5M | $124,937 |
| 2023 | 2,663 | $11.2M | $46.0M | $207,124 |
| 2022 | 2,663 | $10.9M | $38.9M | $181,143 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| UNITED HEALTHCARE SERVICES, INC. | Other Service Provider | $1,517,462 | — | $1,517,462 |
| NFP CORPORATE SERVICES, INC. | Other Service Provider | $772,835 | — | $772,835 |
| EXPRESS SCRIPT, INC. | Other Service Provider | $141,995 | — | $141,995 |
| WELLNESS IQ, INC. | Other Service Provider | $103,933 | — | $103,933 |
| ALERA GROUP INC DBA VITAL INCITE | Other Service Provider | $80,784 | — | $80,784 |
| BOSE MCKINNEY & EVANS LLP | ERISA Attorney | $75,000 | — | $75,000 |
| TAFT STETTINIUS & HOLLISTER LLP | Other Service Provider | $49,098 | — | $49,098 |
| THE HOWARD E NYHART COMPANY, INC | Other Service Provider | $37,300 | — | $37,300 |
| BRADY WARE & SCHOENFELD, INC. | Auditor | $23,110 | — | $23,110 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BOSE MCKINNEY & EVANS LLP — ERISA Attorney
- BRADY WARE & SCHOENFELD, INC. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,801,517
- Estimated Expense Ratio: 24.259% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $3,756,930 | $23,612 | $3,508,239 | $23,110 | — |
| 2023 | $3,775,376 | $21,333 | $3,300,955 | $22,420 | — |
| 2022 | $3,068,469 | $20,143 | $2,889,326 | — | $100,544 |