401(k) · DOL Form 5500 · 2024

Independent Bank Corporation 401(k) Plan

Data updated 2026-08-25

$98M
Total assets Below avg plan size
830
Participants Near avg headcount
90th
Percentile by assets National rank
$117,503
Avg per participant Below avg balance/head
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Official DOL plan name: Independent Bank Corporation 401(k) Plan · Sponsored by Independent Bank Corporation · Michigan · Finance & Insurance

$98M in assets, 830 participants

Independent Bank Corporation's Independent Bank Corporation 401(k) Plan reported $98M in total assets and 830 participants in its 2024 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.

  • #7,251 in Finance & Insurance (8,549 peers)

Where Independent Bank Corporation 401(k) Plan sits by assets

Independent Bank Corporation 401(k) Plan sits in the top 10% of all filed plans by assets, $98M for 830 participants (~$117,503/participant), up 9.9% in 2024.

#7,251
in Finance & Insurance (8,549 peers)
+9.9%
assets growth YoY
1.0×
vs typical plan assets (national mean)

Independent Bank Corporation 401(k) Plan's outsized position by total assets

Independent Bank Corporation 401(k) Plan vs every filed plan by assets

End-of-year total assets · plan year 2024 · DOL Form 5500

$97,527,869 Top 10% higher than 90% of 123,620 filed plans

This plan $0 $2,050,000,000 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 2024

Independent Bank Corporation 401(k) Plan among mid-size filed plans by headcount

Plan-year 2024 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Independent Bank Corporation 401(k) Plan sits mid-pack in the medium band (830 participants).

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Independent Bank Corporation 401(k) Plan reported net income fell from $10M in the plan year 2023 filing to $9M in the plan year 2024 filing.
  • Independent Bank Corporation 401(k) Plan end-of-year assets rose from $89M in the plan year 2023 filing to $98M in the plan year 2024 filing.
  • Independent Bank Corporation 401(k) Plan reported participants fell from 912 in the plan year 2023 filing to 830 in the plan year 2024 filing.

See the national 2023→2024 release diff →

Plan-year Form 5500 strip

Filing strip 382032782 · Independent Bank Corporation PY 2024 · 401(k)

Independent Bank Corporation 401(k) Plan · $98M · 830 · 90th

  • ASSETS $98M
  • PCT 830
  • EIN 90th
  • RANK 401(k)
  • PHOTO near Everwatch 401(k) Plan
  • IND ind #7251

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 Michigan →

Independent Bank Corporation 401(k) Plan in the asset neighbourhood

Ch Holdings, Inc. 401(k) Salary and Profit Sharing PlanCh Holdings, Inc. 401(k) Sal…$98MProtective Industries Savings & Retirement PlanProtective Industries Saving…$98MEverwatch 401(k) Plan$98MUrenco USA 401(k) Plan$98MIndependent Bank Corporation 401(k) PlanIndependent Bank Corporation…$98M
End-of-year total assets ($M) among Independent Bank Corporation 401(k) Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2024.

Scale-class filing particulars (2024)

Total Assets (Beginning of Year)$89M
Net Assets (End of Year)$98M
Net Income$9M
Employer EIN382032782
Plan Effective Date1988-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Independent Bank Corporation)

Sponsor-wide plan assets over time

All Independent Bank Corporation plans reported in each filing year

Latest sponsor-wide plan assets
$117M 26.80131233896023% vs 2022
2024 filing year
$80M$90M$100M$110M$120M 202220232024 $92.1M $117M ▲ +26.8%
Year Plans Participants Total Assets
2022 2 1,768 $92M
2023 2 1,734 $104M
2024 2 1,590 $117M

Nearby 401(k) Plans in Michigan

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

Independent Bank Corporation 401(k) Plan vs. nearby 401(k) plans in Michigan, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 -100102030 Total assets ($B) Participants Independent Bank Corporation 401(k) Plan, Total assets ($B): 0.097527869 · Participants: 830Independent Bank Corporation 401(k) PlanGeneral Motors Retirement Savings Plan for Salaried Employees in the United States, Total assets ($B): 23.0591668 · Participants: 43053General Motors Retirement Savings Plan for Salaried Employees in the United StatesFord Motor Co. Savings and Stock Investment Plan for Salaried Employees, Total assets ($B): 17.26893589 · Participants: 31790Ford Motor Co. Savings and Stock Investment Plan for Salaried EmployeesThe Dow Chemical Company Employees' Savings Plan, Total assets ($B): 10.768606712 · Participants: 17128The Dow Chemical Company Employees' Savings PlanThe General Motors Personal Savings Plan for Hourly-Rate Employees in the United States, Total assets ($B): 9.568379082 · Participants: 42513The General Motors Personal Savings Plan for Hourly-Rate Employees in the United StatesFord Motor Co. Tax-Efficient Savings Plan for Hourly Employees, Total assets ($B): 8.2932975 · Participants: 60497Ford Motor Co. Tax-Efficient Savings Plan for Hourly Employees
Independent Bank Corporation 401(k) Plan vs. nearby 401(k) plans in Michigan, assets vs. participants
Compare Independent Bank Corporation 401(k) Plan side-by-side with 3 peers →

Independent Bank Corporation 401(k) Plan's out-of-state 401(k) peers by assets and headcount

Outside Michigan, the nearest 401(k) by assets is Everwatch 401(k) Plan in VA ($98M); by covered participants it is North Country Associates, Inc. 401(k) Plan in ME (830 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($98M here).

Similar participant headcount

Nearest other-state filings by covered participants (830 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Independent Bank Corporation 401(k) Plan assets move in 2024? ▼
Independent Bank Corporation 401(k) Plan grew at a solid clip - up 9.9% during 2024, from $89M to $98M. Reported net income was $9M.
How have Independent Bank Corporation plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Independent Bank Corporation's sponsor-wide assets grew 26.8%, from $92M to $117M.
Where does Independent Bank Corporation 401(k) Plan rank by assets among Form 5500 filers? ▼
Independent Bank Corporation 401(k) Plan ranks in the 90th percentile by end-of-year assets among 123,622 plans that reported assets for plan year 2024 (in the top 10% of all filed plans by assets).
Which 401(k) plans are similar in size to Independent Bank Corporation 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by assets is Everwatch 401(k) Plan in VA ($98M, 366 participants).
Which 401(k) plans cover a similar participant headcount to Independent Bank Corporation 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is North Country Associates, Inc. 401(k) Plan in ME (830 participants, $6M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 382032782.

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.