Massachusetts › Finance and insurance › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Merrimack Mutual Fire Insurance Company Retirement Plan
Sponsored by The Andover Companies, Andover, MA
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
The Andover Companies of Andover, Massachusetts sponsors Merrimack Mutual Fire Insurance Company Retirement Plan, a defined benefit pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 793 participants (307 active) and $459M in net assets.
Net assets came to $579,005 per participant, well above the $86,583 median for defined benefit plans with 500 to 999 participants and well above the $119,983 median for defined benefit plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The filing reports no service provider compensation on Schedule C. That is common where fees are paid by the employer or taken from investment returns, neither of which appears there. Administrative expenses charged to the plan were —.
Across the filings on record, net assets went from $105M in 2009 to $459M in 2024 (up 336%), and participants from 380 to 793 (up 109%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $579,005 | $86,583 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $10,758 | $7,849 | $10,244 |
| Schedule C compensation per participant | — | $377 | $352 | $344 |
| Schedule C compensation, share of net assets | — | 0.48% | 0.32% | 0.42% |
| Administrative expenses per participant | — | $591 | $433 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 plans), finance and insurance (690) and all US plans (5,308). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 793 | $459M | $579,005 | — | — | $0 |
| 2023 | 553 | $390M | $705,512 | — | — | $0 |
| 2022 | 522 | $365M | $698,322 | — | — | $0 |
| 2021 | 499 | $357M | $715,681 | — | — | $0 |
| 2020 | 485 | $300M | $618,915 | — | — | $0 |
| 2019 | 468 | $300M | $640,947 | — | — | $0 |
| 2018 | 457 | $269M | $589,085 | — | — | $0 |
| 2017 | 452 | $309M | $683,819 | — | — | $0 |
| 2016 | 446 | $288M | $645,661 | — | — | $0 |
| 2015 | 429 | $268M | $625,389 | $5,000 | — | $0 |
| 2014 | 410 | $258M | $628,227 | — | — | $0 |
| 2013 | 396 | $233M | $587,884 | $4.6M | — | $0 |
| 2012 | 386 | $187M | $483,332 | $13.1M | — | $0 |
| 2011 | 385 | $160M | $415,099 | $17.0M | — | $0 |
| 2010 | 378 | $131M | $346,905 | $17.0M | — | $0 |
| 2009 | 380 | $105M | $277,066 | $11.9M | — | $0 |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$390,147,956
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions—
- Total income, including investment results$78,043,762
- Benefits paid$9,040,419
- Administrative expenses—
- Total expenses$9,040,419
- Net income$69,003,343
- Net transfers$0
- Net assets, end of year$459,151,299
Participants
- Active participants307
- Retired or separated, receiving benefits173
- Retired or separated, entitled to future benefits82
- Total participants, end of year793
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Transamerica Retirement Solutions | Actuarial; Claims processing; Recordkeeping and information management; Investment management; Participant communication | $0 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Corporate stocks$418M · 91.1%
- U.S. Government securities$26.9M · 5.9%
- Cash (interest and non-interest bearing)$10.6M · 2.3%
- Registered investment companies (mutual funds)$2.1M · 0.4%
- Receivables$1.2M · 0.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmPricewaterhouseCoopers, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $3,000,000
- Blackout period during the year—
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
1ABenefits are primarily pay related1ECode section 401(h) arrangement
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 524150: Direct Insurance (except Life, Health & Medical) Carriers.
Other plans of The Andover Companies
| Plan | Participants | Net assets |
|---|---|---|
| The Andover Companies Employee's Savings & Profit | 383 | $80.4M |
Similar plans in Massachusetts
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Cbera Plan C | Cooperative Banks Employees Retirement Association | 975 | $130M | $133,249 |
| Plumbers and Pipefitters Local No. 104 Pension Plan | Plumbers & Pipefitters Local No 104 Union | 779 | $117M | $149,568 |
| Independence Community Bank Employees Retirement Plan | Independence Community Bank C/o Santander Holdings USA, Inc. | 1,131 | $60.5M | $53,473 |
| Sbera Pension Plan As Adopted by Middlesex Savings Bank | Middlesex Savings Bank | 766 | $185M | $241,707 |
| Retirement Income Plan | Sun Life Financial U.S. Services Company, Inc. | 2,051 | $249M | $121,256 |
| Baycoast Bank Pension Plan | Baycoast Bank | 735 | $99.2M | $134,928 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Merrimack Mutual Fire Insurance Company Retirement Plan?
793 participants at the end of the plan year ending 31 Dec 2024, of whom 307 were active employees, with net assets of $459,151,299. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does The Andover Companies contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports no provider compensation for the year. Administrative expenses on Schedule H were —. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is The Andover Companies. Recordkeeping or administration: Transamerica Retirement Solutions. Investment advisory or management: Transamerica Retirement Solutions. The financial statements were audited by PricewaterhouseCoopers, LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 14 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 04-1614490, plan 001, received 14 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.