Plan Snapshot
- Plan Sponsor: Industrial Bank
- Sponsor EIN: 530088120
- Sponsor Address: 99 COMMERCE PLACE, LARGO, MD, 20774
- Plan Type: 401(k)
- Total Participants: 142
- Total Assets: $16.3M
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 | 142 | $16.3M | $368,151 | $875,615 |
| 2023 | 140 | $14.4M | $352,178 | $841,027 |
| 2022 | 133 | $12.8M | $278,641 | $722,623 |
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 |
|---|---|---|---|---|
| CLIFTONLARSONALLEN LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CLIFTONLARSONALLEN LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $69,802 | $8,742 | — | — | — |
| 2023 | $61,819 | $6,957 | — | — | — |
| 2022 | $61,090 | — | $61,090 | — | — |