Plan Snapshot
- Plan Sponsor: Independence Community Bank C/O Santander Holdings Usa, INC.
- Sponsor EIN: 111350490
- Sponsor Address: 75 STATE STREET, BOSTON, MA, 02109
- Plan Type: DB
- Total Participants: 7
- Total Assets: $60.5M
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 | 7 | $60.5M | $0 | $0 |
| 2023 | 53 | $79.4M | $0 | $0 |
| 2022 | 59 | $79.8M | $0 | $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 |
|---|---|---|---|---|
| WILLIS TOWERS WATSON US LLC | NONE | $712,705 | — | $712,705 |
| SEI PRIVATE TRUST CO | TRUSTEE | $151,550 | — | $151,550 |
| BALLARD SPAHR LLP | NONE | $26,428 | — | $26,428 |
| HERBEIN + COMPANY, INC. | NONE | $13,725 | — | $13,725 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- WILLIS TOWERS WATSON US LLC — NONE
- BALLARD SPAHR LLP — NONE
- HERBEIN + COMPANY, INC. — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $904,408
- Estimated Expense Ratio: 1.495% 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 | $1,061,938 | $130,552 | — | $13,725 | — |
| 2023 | $523,480 | $151,875 | — | $17,500 | — |
| 2022 | $557,629 | $188,964 | — | — | $226,809 |