Independence Blue Cross, LLC 401(k) Review & Grade
Independence Blue Cross Blue Chip Retirement Savings Plan
Philadelphia, PAFinance & Insurance4,452 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,386Employer $ per active participant
$4,889Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$918.9MNet plan assets, end of year
$166,519Average balance per account
Score breakdown
- Employer generosity41.9 / 5084th percentile for employer $ per participant
- Low cost18.1 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving1.7 / 1511th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 84th |
| Lower admin cost | 73th |
| Employee saving | 11th |
| Peers that auto-enroll | 66% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Independence Blue Cross put in about $8,386 per active participant, more than the typical peer ($4,489). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $37,340,294 |
| Participant (employee) contributions | $21,770,086 |
| Other contributions (incl. rollovers in) | $4,806,605 |
| Administrative expenses paid from the plan | $576,115 |
| Investment advisory & management fees | $308,940 |
| Other admin expenses | $685 |
| Benefits paid out | $224,485,162 |
| Net assets, start / end of year | $958.2M / $918.9M |
| Active participants, start / end of year | 4,285 / 4,620 |
| Participants with account balances | 5,518 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Vanguard Advisers Inc. | $308,940 reported compensation |
| Vanguard Fiduciary Trust Company | $230,689 reported compensation |
| Deloitte Tax LLP | $35,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009141627NAL0003988595001, received 2025-10-09, EIN 46-3867722, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.