Needham Bank 401(K) Plan — Form 5500 plan (Needham Bank)
Plain-English plan 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, Needham Bank 401(K) Plan is a benefit plan reported by Needham Bank under EIN 84-3556185 and plan number 003. The latest loaded filing year is 2023. The filing reports 340 participants and $46,035,397 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Needham Bank
- EIN
- 84-3556185
- Plan number
- 003
- Plan type
- 2
- Location
- Needham, MA
- Latest filing year
- 2023
- Participants
- 340
- End-of-year plan assets
- $46,035,397
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 340 | H, C | 20240701091442NAL0002684467001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $46,035,397
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $46,035,397
- Net assets (BOY)
- $0
Income & contributions
- Employer contributions
- $1,159,797
- Participant contributions
- $1,593,583
- Total contributions
- $3,686,788
- Total income / additions
- $6,830,450
Expenses & distributions
- Benefits paid
- $390,566
- Administrative expenses
- $25,768
- Total expenses
- $416,334
- Net increase / (decrease)
- $6,414,116
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $25,759 | $0 | 2023 |
| Morningstar Investment Management L | INV ADV, PARTICIPANTS | $0 | $0 | 2023 |
| Wilshire Advisors LLC | INVESTMENT ADVISORY | $0 | $0 | 2023 |