# Industry Bancshares INC 401(k) Plan
Source: https://planprovider.pro/companies/industry-bancshares-inc-401k-plan

> Industry Bancshares INC's 401(k) plan: 421 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Industry Bancshares INC

- **Sponsor EIN:** 742679367

- **Sponsor Address:** 7910 ERNST PARKWAY, INDUSTRY, TX, 789440087

- **Plan Type:** 401(k)

- **Total Participants:** 421

- **Total Assets:** $31.8M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **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|421|$31.8M|$1.5M|$2.0M|

| 2023|475|$29.2M|$1.6M|$2.2M|

| 2022|459|$44.3M|$1.5M|$2.1M|

## 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|$73,273|—|$73,273|

| JAYNES, REITMEIER, BOYD & THERRELL|Auditor|—|—|$0|

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $73,273

- **Estimated Expense Ratio:** 0.231% 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|$73,273|—|$73,273|—|—|

| 2023|$82,507|—|$71,317|$11,190|—|

| 2022|$67,872|—|$67,070|—|—|

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