Form 5500 · Employee benefit plan · SHEFFIELD, AL
BANK INDEPENDENT
The filing calls this plan BANK INDEPENDENT LTD.
Public Form 5500 records show how BANK INDEPENDENT of SHEFFIELD, AL, a finance and insurance employer, structures its employee benefits. Its broker of record is ABLE BENEFIT SOLUTIONS INC. Coverage is written through RELIASTAR LIFE INSURANCE COMPANY. The plan's most recent policy period ended in September.
Sourced from U.S. DOL EFAST2 Form 5500 · EIN 63-0260951 · plan 505 · plan year 2025, filed Jul 15, 2026
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57 other employer plans in Alabama have policy years ending in September. See the full list on the renewal calendar, or ask for it in Claude or ChatGPT.
How this plan is funded
Funding not settled by the filing
The filing does not report enough to settle how this plan pays for benefits.
Benefits declared on this filing
Declared benefits are the plan’s own line 8b codes on Form 5500. “Not on Schedule A” means no insured contract for that line appears on this filing. That usually means the benefit is self-funded, or it sits under a different plan number.
Persons covered is the count the carrier filed for that policy at the end of its policy year, and it can include dependents. Participants is the plan's own count at the start of its plan year. The two count different people, so a covered figure can be larger.
Plan brief
The filing discloses a single insured line, disability, through RELIASTAR LIFE INSURANCE COMPANY, covering 592 people.
Reported premium across the insured contracts is $60,167, with $6,017 in disclosed broker commissions — about 10% of premium.
The most recent policy period ended in September, and the plan year ends September 30. Group contracts typically renew on that annual cycle.
Schedule A insurance contracts
| Carrier | Benefits | Covered | Renews | Premium | Commission |
|---|---|---|---|---|---|
| RELIASTAR LIFE INSURANCE COMPANY | Disability | 592 | Oct 1, 2025 | $60,167 | $6,017 |
Covered = persons covered at policy year end, as filed on Schedule A for that policy — often certificates or one class, not the whole plan. Premium = the filing’s own premium/charges figure; “—” means not credibly reported.
Administrator and service providers
The plan administrator is from line 3a of the main form. We publish company names only.
Other plans filed by this employer
How this plan compares
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Renewal calendar
57 other employer plans in Alabama are October 1 renewals (policy year ends September).
Their policy years end in September, like this plan’s, so most renew October 1. The calendar lists every insured group by renewal date and state, with broker of record, carrier and disclosed commission. You can preview the five largest in each month for free.
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