2023 Form 5500 filing — Needham Bank 401(K) Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20240701091442NAL0002684467001) for Needham Bank 401(K) Plan, reported by Needham Bank under EIN 84-3556185 and plan number 003. It reports 340 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20240701091442NAL0002684467001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Needham Bank
- EIN
- 84-3556185
- Plan number
- 003
- Location
- Needham, MA
- Participants
- 340
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $46,035,397
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $46,035,397
- Employer contributions
- $1,159,797
- Participant contributions
- $1,593,583
- Total income / additions
- $6,830,450
- Benefits paid
- $390,566
- Administrative expenses
- $25,768
- Total expenses
- $416,334
- Net increase / (decrease)
- $6,414,116
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $25,759 | $0 |
| Morningstar Investment Management L | INV ADV, PARTICIPANTS | $0 | $0 |
| Wilshire Advisors LLC | INVESTMENT ADVISORY | $0 | $0 |