Plan Snapshot
- Plan Sponsor: Independence Contract Drilling, INC.
- Sponsor EIN: 371653648
- Sponsor Address: 20475 STATE HIGHWAY 249 SUITE 300, HOUSTON, TX, 77070
- Plan Type: 401(k)
- Total Participants: 332
- Total Assets: $21.2M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 332 | $21.2M | $1.4M | $1.6M |
| 2023 | 446 | $20.0M | $1.5M | $1.8M |
| 2022 | 503 | $17.1M | $1.4M | $1.7M |
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 |
|---|---|---|---|---|
| CHARLES SCHWAB & CO. INC AND AFFIL | NONE | $24,357 | — | $24,357 |
| WEAVER AND TIDWELL LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CHARLES SCHWAB & CO. INC AND AFFIL — NONE
- WEAVER AND TIDWELL LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $24,357
- Estimated Expense Ratio: 0.115% 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 | $25,726 | — | — | — | — |
| 2023 | $11,588 | — | — | — | — |
| 2022 | $7,780 | — | — | — | — |