# Independence Community Bank C/O Santander Holdings Usa, INC. DB Plan
Source: https://planprovider.pro/companies/independence-community-bank-c-o-santander-holdings-usa-inc-plan

> Independence Community Bank C/O Santander Holdings Usa, INC.'s DB plan: 7 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/lincoln-financial-group) — NONE

- [BALLARD SPAHR LLP](https://planprovider.pro/provider/ballard-spahr-llp) — NONE

- [HERBEIN + COMPANY, INC.](https://planprovider.pro/provider/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|

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