Massachusetts › Finance and insurance › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Cbera Plan C
Sponsored by Cooperative Banks Employees Retirement Association, Norwood, 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.
In the plan year ending 31 Dec 2024, Cbera Plan C covered 975 participants and held $130M in net assets. The plan is a defined benefit pension plan sponsored by Cooperative Banks Employees Retirement Association of Norwood, Massachusetts. It is a multiple-employer plan covering the employees of more than one employer.
Net assets came to $133,249 per participant, well above the $86,583 median for defined benefit plans with 500 to 999 participants and 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.
Employer contributions were $1.3M for the year ($3,661 per active participant) and benefits paid were $145M. In a defined benefit plan the employer's contribution follows funding rules rather than a match formula, so it can swing widely from year to year.
Schedule C lists 14 service provider organisations paid $5,000 or more, with reported compensation of $2.0M: $2,017 per participant, well above the same-size median of $377. Administrative expenses charged to the plan were $2.2M. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $160M in 2009 to $130M in 2024 (down 19%), and participants from 3,972 to 975 (down 75%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $133,249 | $86,583 | $119,983 | $86,221 |
| Employer contributions per active participant | $3,661 | $10,758 | $7,849 | $10,244 |
| Schedule C compensation per participant | $2,017 | $377 | $352 | $344 |
| Schedule C compensation, share of net assets | 1.5% | 0.48% | 0.32% | 0.42% |
| Administrative expenses per participant | $2,268 | $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 | 975 | $130M | $133,249 | $1.3M | $0 | $2.0M |
| 2023 | 2,426 | $297M | $122,497 | $7.5M | $0 | $2.3M |
| 2022 | 2,861 | $286M | $100,006 | $8.4M | $0 | $2.1M |
| 2021 | 2,965 | $409M | $137,779 | $9.5M | $0 | $2.1M |
| 2020 | 3,086 | $402M | $130,297 | $9.0M | $0 | $2.3M |
| 2019 | 3,158 | $350M | $110,844 | $8.8M | $0 | $2.3M |
| 2018 | 3,409 | $307M | $90,176 | $13.8M | $0 | $2.1M |
| 2017 | 3,471 | $348M | $100,249 | $10.2M | $0 | $2.2M |
| 2016 | 3,498 | $302M | $86,268 | $13.0M | $0 | $2.0M |
| 2015 | 3,565 | $276M | $77,365 | $12.5M | $0 | $1.9M |
| 2014 | 3,646 | $287M | $78,645 | $10.0M | $0 | $1.9M |
| 2013 | 3,832 | $253M | $65,993 | $9.7M | $0 | $1.8M |
| 2012 | 3,926 | $248M | $63,266 | $9.8M | $0 | $1.5M |
| 2011 | 3,940 | $210M | $53,360 | $8.5M | $0 | $1.4M |
| 2010 | 3,945 | $188M | $47,746 | $8.9M | $0 | $1.2M |
| 2009 | 3,972 | $160M | $40,281 | $8.0M | $0 | $1.2M |
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$297,176,854
- Employer contributions$1,281,279
- Participant contributions$0
- Rollovers and other contributions$0
- Total contributions$1,281,279
- Total income, including investment results$5,846,039
- Benefits paid$145,323,632
- Administrative expenses$2,211,496
- Total expenses$147,535,128
- Net income−$141,689,089
- Net transfers−$25,569,605
- Net assets, end of year$129,918,160
Participants
- Active participants350
- Retired or separated, receiving benefits274
- Retired or separated, entitled to future benefits321
- Total participants, end of year975
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Coop. Banks Employees Ret Assn. | Plan Administrator | $674,506 | $0 |
| Agilis Partners LLC | Actuarial | $418,440 | $0 |
| Nepc, LLC | Investment advisory (plan) | $123,534 | $0 |
| BlackRock Institutional Trust Co. | Trustee (bank, trust company, or similar financial institution); Trustee (discretionary); Investment management | $123,422 | $0 |
| The Bank of New York Mellon | Custodial (other than securities); Custodial (securities) | $111,643 | $0 |
| Hardman Johnston Global Advisors | Investment management | $82,480 | $0 |
| Select Equity Group, L.P. | Investment management | $76,212 | $0 |
| Mondrian Investment Group | Investment management | $68,288 | $0 |
| Acadian Asset Management LLC | Investment management | $63,911 | $0 |
| Legal & General Invest MGMT America | Investment management | $54,908 | $0 |
| Wolf & Company, P.C. | Accounting (including auditing) | $50,617 | $0 |
| Income Research & Management | Investment management | $42,850 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. 2 smaller rows are not shown. 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.
Administrative expenses on Schedule H
- Investment advisory and management fees$711,264
- Contract administrator fees$674,506
- Actuarial fees$418,440
- Other administrative expenses$245,026
- Trustee and custodial fees$111,643
- IQPA audit fees$50,617
- Total administrative expenses$2,211,496
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.
- Common/collective trusts$64.1M · 49.3%
- U.S. Government securities$29.2M · 22.5%
- 103-12 investment entities$19.0M · 14.6%
- Partnership/joint venture interests$9.0M · 6.9%
- Corporate stocks$7.9M · 6.1%
- Receivables$809K · 0.6%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmWolf & Company, P.C.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- 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 related1DFloor-offset plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 522190: Other Depository Credit Intermediation.
Other plans of Cooperative Banks Employees Retirement Association
| Plan | Participants | Net assets |
|---|---|---|
| Cbera Plan a | 5,036 | $813M |
Similar plans in Massachusetts
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Independence Community Bank Employees Retirement Plan | Independence Community Bank C/o Santander Holdings USA, Inc. | 1,131 | $60.5M | $53,473 |
| Merrimack Mutual Fire Insurance Company Retirement Plan | The Andover Companies | 793 | $459M | $579,005 |
| Retirement Income Plan | Sun Life Financial U.S. Services Company, Inc. | 2,051 | $249M | $121,256 |
| Plumbers and Pipefitters Local No. 104 Pension Plan | Plumbers & Pipefitters Local No 104 Union | 779 | $117M | $149,568 |
| Sbera Pension Plan As Adopted by Eastern Bank | Eastern Bank | 3,753 | $583M | $155,413 |
| Sbera Pension Plan As Adopted by Middlesex Savings Bank | Middlesex Savings Bank | 766 | $185M | $241,707 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Cbera Plan C?
975 participants at the end of the plan year ending 31 Dec 2024, of whom 350 were active employees, with net assets of $129,918,160. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does Cooperative Banks Employees Retirement Association contribute per participant?
The filing reports $1,281,279 in employer contributions for the year, which is $3,661 per active participant; the median for plans of the same type and size was $10,758 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $1,966,471 in compensation to service provider organisations, $2,017 per participant or 1.5% of net assets. The same-size median among plans reporting any Schedule C compensation was $377 per participant. Administrative expenses on Schedule H were $2,211,496. 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 Cooperative Banks Employees Retirement Association. Recordkeeping or administration: Coop. Banks Employees Ret Assn.. Investment advisory or management: Nepc, LLC, BlackRock Institutional Trust Co. and Hardman Johnston Global Advisors. Trustee or custodian: BlackRock Institutional Trust Co. and The Bank of New York Mellon. The financial statements were audited by Wolf & Company, P.C.. 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. 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 04-6035593, plan 334, 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.