About the IBA Group Insurance Trust
The IBA Group Insurance Trust has sponsored a group insurance program for over 50 years as a service and benefit to IBA members and their employees. A formal Trust Agreement was adopted in 1957 and has since been amended to meet all of the requirements of the Employee Retirement Income Security Act of 1974 (ERISA). The Trust is a separate legal entity and the policyholder for the various group insurance policies offered to all members. The Trust is a separate legal entity and enjoys a tax-exempt status under Section 501c(9) of the Internal Revenue code.
The Trust is able to provide enhanced benefits at competitive and stable rates because its only objective is to provide high quality member benefits. The Trust makes no profit from the service it provides.
The Trust’s primary products are a group of benefit plans that are underwritten by Anthem Blue Cross Blue Shield and Principal Life Insurance Company, a member of the Principal Financial GroupÒ. These include the following group plans:
Medical Life Prescription Drugs Short-term Disability Dental Long-term Disability Vision Accidental Death & Dismemberment Wellness
The Trust is governed by a Board of Trustees made up of executive officers from its own membership. Those currently serving as Trustees are:
Mr. Dave Blanford - ClaimAid Consulting Corporation
Mr. Mark Fogt - The Garrett State Bank
Mr. Roger Cromer - Crossroads Bank
Mr. Joe DeHaven - Indiana Bankers Association
Mr. William F. Ritzmann - United Community Bank
Mr. Jack Kenworthy - Bedford Federal
Mr. Mike Mellon - American Savings, FSB
Principal Financial GroupÒ, The PrincipalÒ and the Principal Financial Group logo are registered service marks of Principal Financial Services, Inc. Used by permission