Bank Independent Pension Plan
ERISA Form 5500 plan record drawn from DOL EBSA — verify with linked source filings below.
Sponsored by Bank Independent · Alabama · Finance & Insurance
What the 2023 filing shows
Bank Independent Pension Plan holds $35M for 497 participants — about $70,455 per participant, down 3.2% over the 2022 plan year.
- $35M
- total plan assets (2022 EOY)
- 497
- covered participants
- $70,455
- avg assets per participant
- -3.2%
- assets change YoY
The plan reported a net loss of $1M for the year — a single-year figure driven by markets and benefit payments, not a measure of plan health.
What the Filing Says About Bank Independent Pension Plan
Bank Independent Pension Plan is a Defined Benefit (Pension) retirement plan sponsored by Bank Independent, headquartered in Alabama. As of the 2022 Form 5500 filing, the plan reports $35M in total end-of-year assets and covers 497 participants across the Finance & Insurance industry. The sponsor's EIN on file with the U.S. Department of Labor is 630260951, and the plan has been effective since 1989-07-01. Its filing status is currently FILING RECEIVED.
Year over year, total assets moved from $36M at the beginning of 2022 to $35M at year-end — a decline of 3.2%. Net assets (after liabilities) closed the year at $35M, with reported net income of $-1,157,768 driven by investment returns, contributions received, and benefit payments during the period. These figures reflect what the plan administrator certified on Schedule H or Schedule I of the Form 5500 annual return and can be compared against 2 prior plan-year filings from the same sponsor shown below.
Asset totals and participant counts reflect a single plan year snapshot and can change materially with market conditions, plan mergers, or workforce changes. Fields such as "net income" include both realized investment performance and contribution/distribution flows — a single-year figure does not by itself indicate plan health or participant outcomes. This page summarizes public DOL disclosures for research and educational purposes only and is not retirement, tax, legal, or financial advice. Before making decisions about your own retirement benefits or evaluating an employer's plan, verify the underlying filing directly via the DOL EFAST2 system and consult a qualified professional.
Financial Summary (2023)
| Total Assets (Beginning of Year) | $36M |
| Total Assets (End of Year) | $35M |
| Net Assets (End of Year) | $35M |
| Net Income | $-1,157,768 |
| Plan Type | Defined Benefit (Pension) |
| Employer EIN | 630260951 |
| Plan Effective Date | 1989-07-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Bank Independent)
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 3 | 1,507 | $70M |
| 2023 | 3 | 1,546 | $77M |
| 2024 | 3 | 1,670 | $83M |
Nearby Defined Benefit (Pension) Plans in Alabama
Peer Defined Benefit (Pension) plans — same state, same plan type — ranked by total assets.
- Regions Financial Corporation Retirement Plan $1.2B · 292
- Blue Cross and Blue Shield of Alabama Retirement Plan $737M · 2,014
- Regions Financial Corporation Retirement Plan for Associates $716M · 2,395
- Vulcan Materials Company Pension Plan $508M · 776
- American Cast Iron Pipe Company Pension Plan $440M · 832
Related Data
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Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.
Source: DOL EFAST2 filing system (efast.dol.gov) — original filing retrieval by EIN 630260951.
Reference: IRS Publication 560 — Retirement Plans for Small Business, contribution-limit rules.
Reference: IRS Publication 590-B — Distributions from IRAs, RMD rules under SECURE Act 2.0.
Read our methodology — how this data is sourced, computed, and verified.