Defined Benefit (Pension) · DOL Form 5500 · 2024
Independence Community Bank C/O Santander Holdings USA, Inc. Pension Plan
Data updated 2026-08-25
- $60M
- Total assets Below avg plan size
- 53
- Participants Small participant base
- 86th
- Percentile by assets National rank
- $1.1M
- 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
$60M in assets, 53 participants
Independence Community Bank C/O Santander Holdings USA, Inc.'s Independence Community Bank Employees Retirement Plan reported $60M in total assets and 53 participants in its 2024 DOL Form 5500 filing, ranking in the 86th 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.
- #6,721 in Finance & Insurance (8,549 peers)
Where Independence Community Bank Employees Retirement Plan sits by assets
Independence Community Bank Employees Retirement Plan sits in the top quartile of all filed plans by assets, $60M for 53 participants (~$1.1M/participant), down 23.8% in 2024.
- #6,721
- in Finance & Insurance (8,549 peers)
- -23.8%
- assets change YoY
- 0.6×
- vs typical plan assets (national mean)
The plan reported a net loss of $19M 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 2024 · DOL Form 5500
$60,477,857 Top 14% higher than 86% of 123,620 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2024
Independence Community Bank Employees Retirement Plan among smaller filed plans by headcount
Plan-year 2024 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 (53 participants) on this national headcount ladder.
What changed between DOL Form 5500 filings
plan year 2023 → plan year 2024
- Independence Community Bank Employees Retirement Plan reported net income fell from -$420K in the plan year 2023 filing to -$19M in the plan year 2024 filing.
- Independence Community Bank Employees Retirement Plan end-of-year assets fell from $79M in the plan year 2023 filing to $60M in the plan year 2024 filing.
- Independence Community Bank Employees Retirement Plan reported participants fell from 59 in the plan year 2023 filing to 53 in the plan year 2024 filing.
Plan-year Form 5500 strip
Filing strip 111350490 · Independence Community Bank C/O Santander Holdings USA, Inc. PY 2024 · Defined Benefit (Pension)
Independence Community Bank Employees Retirement Plan · $60M · 53 · 86th
- PART $60M
- PART 53
- PART 86th
- PART Defined Benefit (Pension)
- PART near Hm/Fm Retirement Plan
- PART ind #6721
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 (2024)
| Total Assets (Beginning of Year) | $79M |
|---|---|
| Net Assets (End of Year) | $60M |
| Net Income | -$19M |
| 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 $11.6B · 60,621
- New England Teamsters Pension Fund $9.1B · 21,577
- Liberty Mutual Retirement Benefit Plan $6.3B · 34,910
- Massachusetts Institute of Technology Basic Retirement Plan $5.9B · 12,533
- N. Atlantic States Carp. Pension Fund $5.1B · 16,946
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 Hm/Fm Retirement Plan in CA ($60M); by covered participants it is Retirement Income Plan of Graham Corporation in NY (53 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($60M here).
- Hm/Fm Retirement Plan (CA) $60M · 80
- Major League Baseball Pension Plan for Non-Uniformed Personnel (MD) $61M · 153
- The Retirement Benefit Plan for Sky Chefs for Officer, Management & Specialist and Non-Management, Non-Union Personnel (TX) $60M · 60
- Retirement Plan for Associates and Staff Employees of Curtis, Mallet-Prevost, Colt & Mosle LLP (NY) $60M · 126
Similar participant headcount
Nearest other-state filings by covered participants (53 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.