Based on review of the 2023 DOL 5500 filings, the average Indiana 401K account balance is approximately 72 thousand dollars ($72,162 assets/participants, or $72,539 assets/participants EOY).  A similar review of 2023 DOL 5500 filings for Indiana ESOPs, identify an average account balance of  approximately 138 thousand dollars ($137,197 assets/participants, or $139,407 assets/participants EOY).

One key difference between 401K plans and an ESOP is that the majority of funds in the 401K comes from the employee with a 3.0% to 4.9% company match.  In a majority of ESOPs their is no employee contribution and the plans are funded from company profits!

Indiana employee owners have nearly double the retirement benefits of workers who only have a 401K plan.  In addition, many Indiana ESOPs provide a 401K retirement benefit in addition to their ESOP benefit! Wouldn’t you rather work for an Indiana ESOP?