Defined Benefit (Pension) · DOL Form 5500 · 2023
Independence Community Bank C/O Santander Holdings USA, Inc. Pension Plan
Data updated 2026-08-25
- $79M
- Total assets Below avg plan size
- 59
- Participants Small participant base
- 90th
- Percentile by assets National rank
- $1.3M
- Avg per participant High balance/head
Official DOL plan name: Independence Community Bank Employees Retirement Plan · Sponsored by Independence Community Bank C/O Santander Holdings USA, Inc. · Massachusetts · Finance & Insurance
$79M in assets, 59 participants
Independence Community Bank C/O Santander Holdings USA, Inc.'s Independence Community Bank Employees Retirement Plan reported $79M in total assets and 59 participants in its 2023 DOL Form 5500 filing, ranking in the 90th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.
- #7,445 in Finance & Insurance (8,869 peers)
Where Independence Community Bank Employees Retirement Plan sits by assets
Independence Community Bank Employees Retirement Plan sits in the top 10% of all filed plans by assets, $79M for 59 participants (~$1.3M/participant), down 0.5% in 2023.
- #7,445
- in Finance & Insurance (8,869 peers)
- -0.5%
- assets change YoY
- 0.8×
- vs typical plan assets (national mean)
The plan reported a net loss of $420K for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
Independence Community Bank Employees Retirement Plan's outsized position by total assets
Independence Community Bank Employees Retirement Plan vs every filed plan by assets
End-of-year total assets · plan year 2023 · DOL Form 5500
$79,372,235 Top 10% higher than 90% of 127,068 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023
Independence Community Bank Employees Retirement Plan among smaller filed plans by headcount
Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Independence Community Bank Employees Retirement Plan is a small filing (59 participants) on this national headcount ladder.
What changed between DOL Form 5500 filings
plan year 2022 → plan year 2023
- Independence Community Bank Employees Retirement Plan reported net income rose from -$29M in the plan year 2022 filing to -$420K in the plan year 2023 filing.
- Independence Community Bank Employees Retirement Plan reported participants fell from 64 in the plan year 2022 filing to 59 in the plan year 2023 filing.
- Independence Community Bank Employees Retirement Plan end-of-year assets fell from $80M in the plan year 2022 filing to $79M in the plan year 2023 filing.
DOL schedule card
Filing strip 111350490 · Independence Community Bank C/O Santander Holdings USA, Inc. PY 2023 · Defined Benefit (Pension)
Independence Community Bank Employees Retirement Plan · $79M · 59 · 90th
- 5500 $79M
- 5500 59
- 5500 90th
- 5500 Defined Benefit (Pension)
- 5500 near Flexco Pension Plan
- 5500 ind #7445
Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in Massachusetts →
Independence Community Bank Employees Retirement Plan in the asset neighbourhood
Scale-class filing particulars (2023)
| Total Assets (Beginning of Year) | $80M |
|---|---|
| Net Assets (End of Year) | $79M |
| Net Income | -$420K |
| Employer EIN | 111350490 |
| Plan Effective Date | 1953-01-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Independence Community Bank C/O Santander Holdings USA, Inc.)
Sponsor-wide plan assets over time
All Independence Community Bank C/O Santander Holdings USA, Inc. plans reported in each filing year
- Latest sponsor-wide plan assets
- $60M 24.205820422237164% vs 2022
- 2024 filing year
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 1 | 64 | $80M |
| 2023 | 1 | 59 | $79M |
| 2024 | 1 | 53 | $60M |
Nearby Defined Benefit (Pension) Plans in Massachusetts
Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.
- Consolidated Cash Balance Program of Mass General Brigham and Member Organizations $10.3B · 58,745
- New England Teamsters Pension Fund $9.1B · 21,786
- Liberty Mutual Retirement Benefit Plan $6.9B · 37,145
- Massachusetts Institute of Technology Basic Retirement Plan $5.4B · 11,888
- N. Atlantic States Carp. Pension Fund $5.0B · 17,166
Independence Community Bank Employees Retirement Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount
Outside Massachusetts, the nearest Defined Benefit (Pension) by assets is Flexco Pension Plan in IL ($79M); by covered participants it is Nsf International Retirement Income Plan in MI (59 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($79M here).
- Flexco Pension Plan (IL) $79M · 408
- General Cable Master Pension Plan (KY) $79M · 178
- Retirement Plan for Employees of Ion Bank (CT) $79M · 47
- Wolters Kluwer Cch, Springhouse and Waverly Pension Plan (IL) $79M · 342
Similar participant headcount
Nearest other-state filings by covered participants (59 participants); asset peers above are excluded.
- Nsf International Retirement Income Plan (MI) 59 · 0 off
- The Options Clearing Corporation Retirement Plan (IL) 59 · 0 off
- Alto Ingredients Pekin Pension Plan (IL) 59 · 0 off
- Group Pension Plan for Employees of Acnb Bank (PA) 59 · 0 off
DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.