Plan Snapshot
- Plan Sponsor: Massachusetts Bankers Association INC.
- Sponsor EIN: 041589780
- Sponsor Address: 200 STATE STREET, SUITE 701, BOSTON, MA, 02109
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 10,798
- Total Assets: $5.5M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 10,798 | $5.5M | $0 | $0 |
| 2024 | 10,246 | $5.0M | $19,958 | $0 |
| 2023 | 9,834 | $5.1M | $20,704 | $0 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| MASS FIN SERVICES INS AGENCY | Other Service Provider | $3,380 | $1,518,287 | $1,521,667 |
| WOLF & COMPANY, P.C. | Other Service Provider | $22,395 | — | $22,395 |
| SMITH & DOWNEY | Other Service Provider | $7,824 | — | $7,824 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,551,886
- Estimated Expense Ratio: 28.090% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2025 | $129,855 | $22,106 | — | $22,395 | — |
| 2024 | $100,423 | $1,094 | — | $24,870 | — |
| 2023 | $181,051 | — | $1,226 | — | — |