Plan Snapshot
- Plan Sponsor: Illinois Bankers Association
- Sponsor EIN: 363215107
- Sponsor Address: 3201 WEST WHITE OAKS DRIVE, SPRINGFIELD, IL, 62704
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 1,660
- Total Assets: $5.6M
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 | 1,660 | $5.6M | $22.8M | $0 |
| 2023 | 1,727 | $7.1M | $22.5M | $0 |
| 2022 | 1,817 | $7.2M | $22.1M | $0 |
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 |
|---|---|---|---|---|
| CLEMENS & ASSOCIATES LIFE AGENCY | Other Service Provider | $130,000 | — | $130,000 |
| ILLINOIS BANKERS ASSOCIATION | Recordkeeper | $106,253 | — | $106,253 |
| GIFFIN, WINNING, COHEN & BODEWES PC | Other Service Provider | $20,684 | — | $20,684 |
| KERBER, ECK & BRAECKEL | Auditor | $19,925 | — | $19,925 |
| GREAT LAKES ADVISORS | Other Service Provider | $18,553 | — | $18,553 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- KERBER, ECK & BRAECKEL — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $295,415
- Estimated Expense Ratio: 5.306% 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 | $668,289 | $18,553 | $106,253 | $19,925 | — |
| 2023 | $749,941 | $19,804 | $134,381 | $19,250 | — |
| 2022 | $688,039 | $19,087 | $146,108 | — | $169,636 |