# Independent Bank Corporation DC Plan
Source: https://planprovider.pro/companies/independent-bank-corporation-plan-004

> Independent Bank Corporation's DC plan: 715 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Independent Bank Corporation

- **Sponsor EIN:** 382032782

- **Sponsor Address:** 227 W MAIN STREET, IONIA, MI, 488468438

- **Plan Type:** DC

- **Total Participants:** 715

- **Total Assets:** $19.2M

## Key Plan Design Features

- **Auto-Enrollment:** No

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** Yes

- **ERISA Section 404(c) Fiduciary Safe Harbor:** No

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|715|$19.2M|$1.1M|$0|

| 2023|751|$14.8M|$1.1M|$0|

| 2022|719|$13.4M|$981,397|$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|

| PRINCIPAL LIFE INSURANCE COMPANY|CONTRACT ADMINISTRATOR|$27,097|—|$27,097|

| REHMANN ROBSON|ACCOUNTANT|$14,463|—|$14,463|

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $41,560

- **Estimated Expense Ratio:** 0.216% 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|$41,560|—|$27,097|$14,463|—|

| 2023|$42,790|—|$25,040|$17,750|—|

| 2022|$37,475|$12,000|$25,475|—|—|

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