New York › Finance and insurance › 250 to 499 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Independent Health Association Inc. Defined Benefit Plan and Trust
Sponsored by Independent Health Association, Inc., Buffalo, NY
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Independent Health Association Inc. Defined Benefit Plan and Trust is a defined benefit pension plan sponsored by Independent Health Association, Inc. of Buffalo, New York. For the plan year ending 31 Dec 2025 it reported 457 participants, 303 of them active, and net assets of $89.4M.
Net assets came to $177,776 per participant in plan year 2024, well above the $86,583 median for defined benefit plans with 500 to 999 participants and well above the $119,983 median for defined benefit plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 4 service provider organisations paid $5,000 or more, with reported compensation of $79K: $172 per participant, well below the same-size median of $377. Administrative expenses charged to the plan were $132K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $39.8M in 2009 to $89.4M in 2025 (up 125%), and participants from 1,251 to 457 (down 63%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $177,776 | $86,583 | $119,983 | $86,221 |
| Employer contributions per active participant | $0 | $10,758 | $7,849 | $10,244 |
| Schedule C compensation per participant | $108 | $377 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.06% | 0.48% | 0.32% | 0.42% |
| Administrative expenses per participant | — | $591 | $433 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 plans), finance and insurance (690) and all US plans (5,308). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2025 | 457 | $89.4M | $195,731 | — | — | $79K |
| 2024 | 507 | $90.1M | $177,775 | $0 | $0 | $55K |
| 2023 | 555 | $87.5M | $157,695 | $0 | $0 | $47K |
| 2022 | 623 | $82.7M | $132,701 | $0 | $0 | $0 |
| 2021 | 655 | $106M | $162,328 | $0 | $0 | $0 |
| 2020 | 681 | $102M | $149,551 | $0 | $0 | $0 |
| 2019 | 716 | $107M | $149,063 | $0 | $0 | $0 |
| 2018 | 801 | $93.2M | $116,388 | $320K | $0 | $0 |
| 2017 | 835 | $102M | $122,344 | $320K | — | $0 |
| 2016 | 884 | $96.4M | $109,057 | $1.1M | — | $0 |
| 2015 | 985 | $95.5M | $96,922 | $1.4M | — | $0 |
| 2014 | 1,183 | $91.6M | $77,391 | $1.2M | $0 | $0 |
| 2013 | 1,220 | $84.1M | $68,941 | $1.5M | $0 | $28K |
| 2012 | 1,270 | $71.3M | $56,166 | $13.8M | $0 | $0 |
| 2011 | 1,299 | $52.7M | $40,597 | $8.0M | $0 | $0 |
| 2010 | 1,321 | $45.5M | $34,456 | $2.0M | $0 | $0 |
| 2009 | 1,251 | $39.8M | $31,786 | $3.0M | $0 | $0 |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$90,132,485
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$11,593,884
- Benefits paid$12,145,459
- Administrative expenses$132,265
- Total expenses$12,277,724
- Net income−$683,840
- Net transfers$0
- Net assets, end of year$89,448,645
Participants
- Active participants303
- Retired or separated, receiving benefits2
- Retired or separated, entitled to future benefits152
- Total participants, end of year457
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Federated Investment Counseling | Investment management fees paid directly by plan | $30,507 | $0 |
| F.L. Putnam Investment Management C | Investment advisory (plan) | $16,320 | $0 |
| Acrisure East Insurance SVCS, LLC | Actuarial | $15,875 | $0 |
| Morgan Stanley Smith Barney LLC | Investment advisory (plan); Securities brokerage; Other services | $15,821 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Other administrative expenses$53,742
- Investment advisory and management fees$46,827
- Actuarial fees$15,875
- Trustee and custodial fees$15,821
- Total administrative expenses$132,265
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Registered investment companies (mutual funds)$45.7M · 51.1%
- Corporate stocks$26.9M · 30.1%
- Other investments$13.6M · 15.2%
- Cash (interest and non-interest bearing)$2.0M · 2.2%
- Real estate$1.3M · 1.5%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmTronconi Segarra & Associates LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $1,000,000
- Blackout period during the year—
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
1ABenefits are primarily pay related3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 524140: Direct Life, Health, & Medical Insurance Carriers.
Other plans of Independent Health Association, Inc.
| Plan | Participants | Net assets |
|---|---|---|
| Independent Health 401(k) Retirement Savings Plan | 1,834 | $272M |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Preferred Mutual Insurance Company Retirement Benefit Accumulation Plan | Preferred Mutual Insurance Company | 476 | $49.4M | $103,873 |
| Jefferies Employees' Pension Plan | Jefferies Financial Group Inc. | 441 | $41.9M | $94,954 |
| The First National Bank of Long Island Pension Plan | Connectone Bank | 503 | $62.9M | $124,977 |
| United Optical Workers Local 408 Pension Fund | Board of Trustees United Optical | 435 | $119K | $273 |
| Retirement Plan of Trustco Bank | Trustco Bank | 510 | $67.4M | $132,197 |
| Bank Hapoalim B.M. Pension Plan | Bank Hapoalim B.M. | 430 | $63.1M | $146,698 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Independent Health Association Inc. Defined Benefit Plan and Trust?
457 participants at the end of the plan year ending 31 Dec 2025, of whom 303 were active employees, with net assets of $89,448,645. Among defined benefit plans that places it in the 250 to 499 participants band, which held 873 plans in plan year 2024.
What does Independent Health Association, Inc. contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $78,523 in compensation to service provider organisations, $172 per participant or 0.09% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $132,265. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Independent Health Association, Inc.. Investment advisory or management: F.L. Putnam Investment Management C and Morgan Stanley Smith Barney LLC. The financial statements were audited by Tronconi Segarra & Associates LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2025 to 31 Dec 2025, received by the Department of Labor on 31 Jul 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 16-1080163, plan 001, received 31 Jul 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.