401(k) · DOL Form 5500 · 2023

Independence Bancshares, Inc. 401(k) Plan

Data updated 2026-08-11

$83M
Total assets
470
Participants
90th
Percentile by assets
$176,136
Avg per participant
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Official DOL plan name: Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) · Sponsored by Independence Bancshares, Inc. · Kentucky · Finance & Insurance

$83M in assets, 470 participants

Independence Bancshares, Inc.'s Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) reported $83M in total assets and 470 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.

  • 90th percentile by assets (of 127,072 plans)
  • #7,497 in Finance & Insurance (8,869 peers)

Where Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) sits by assets

Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) sits in the top 10% of all filed plans by assets, $83M for 470 participants (~$176,136/participant), down 5.4% in 2023.

$83M
total plan assets (2023 EOY)
470
covered participants
90th
percentile by assets (of 127,072 plans)
$176,136
avg assets per participant

The plan reported a net loss of $7M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Where Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) sits by total assets

Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$82,783,822 Top 10% higher than 90% of 127,068 filed plans

This plan $0 $2,010,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) reported net income fell from -$6M in the plan year 2022 filing to -$7M in the plan year 2023 filing.
  • Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) reported participants rose from 431 in the plan year 2022 filing to 470 in the plan year 2023 filing.
  • Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) end-of-year assets fell from $88M in the plan year 2022 filing to $83M in the plan year 2023 filing.

See the national 2022→2023 release diff →

State
Kentucky
Industry
Finance & Insurance

Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) vs the 2023 asset distribution

By assets, Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) outranks 90% of the 127,072 plans that filed a Form 5500 for the 2023 plan year, and holds roughly 0.8x the national average plan size of $100M (721 average participants).

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$88M
Net Assets (End of Year)$80M
Net Income-$7M
Employer EIN610955447
Plan Effective Date1995-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Independence Bancshares, Inc.)

$82M$84M$86M$88M 202220232024 $87.5M $87M ▼ -0.5%
Total plan assets by year, all Independence Bancshares, Inc. plans on file
Year Plans Participants Total Assets
2022 1 431 $88M
2023 1 470 $83M
2024 1 435 $87M

Nearby 401(k) Plans in Kentucky

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) vs. nearby 401(k) plans in Kentucky, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000100000 -20246810 Total assets ($B) Participants Independence Bancsha…, Total assets ($B): 0.082783822 · Participants: 470Independence Bancsha…Commonspirit Health …, Total assets ($B): 7.871320063 · Participants: 86688Commonspirit Health …Humana Retirement Sa…, Total assets ($B): 7.374962984 · Participants: 45938Humana Retirement Sa…UPS/Ipa 401(k) Savin…, Total assets ($B): 1.324958147 · Participants: 3159UPS/Ipa 401(k) Savin…Scionhealth 401(k) P…, Total assets ($B): 1.221134526 · Participants: 33226Scionhealth 401(k) P…Lexmark Savings Plan, Total assets ($B): 1.205127047 · Participants: 1968Lexmark Savings Plan
Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) vs. nearby 401(k) plans in Kentucky, assets vs. participants
Compare Independence Bancshares, Inc. Employee S… side-by-side with 3 peers →

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) by total assets, not by location.

Frequently Asked Questions

How did Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) assets move in 2023? ▼
Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) pulled back noticeably - down 5.4% during 2023, from $88M to $83M. Reported net income was -$7M.
How have Independence Bancshares, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Independence Bancshares, Inc.'s sponsor-wide assets declined 0.5%, from $88M to $87M.
Where does Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) rank by assets among Form 5500 filers? ▼
Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) ranks in the 90th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 10% of all filed plans by assets).
Which 401(k) plans are similar in size to Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions)? ▼
Among 401(k) plans in other states, the closest by assets is Formica Corporation 401(k) Retirement Savings Plan in OH ($83M, 523 participants).

Next read for Independence Bancshares, Inc. Employee S…

Scale reading

Ways to act on Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions)'s numbers.

  • By total assets, Independence Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) Provisions) ranks in the top 10% of all filed plans by assets. See the largest plans
  • Compare it side-by-side against 3 similar 401(k) plans in Kentucky. Compare plans
  • Independence Bancshares, Inc.'s sponsor-wide assets have declined 0.5% since 2022 across 3 plan years on file. More Finance & Insurance plans

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 610955447.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.