Massachusetts › Finance and insurance › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2025 to 31 Dec 2025
Sbera 401(k) Plan As Adopted by Middlesex Savings Bank
Sponsored by Middlesex Savings Bank, Natick, 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 2025, Sbera 401(k) Plan As Adopted by Middlesex Savings Bank covered 692 participants and held $113M in net assets. The plan is a 401(k) plan sponsored by Middlesex Savings Bank of Natick, Massachusetts.
Net assets came to $149,688 per participant in plan year 2024, well above the $46,267 median for defined contribution plans with 500 to 999 participants and well above the $92,294 median for defined contribution 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 employer contributed $1.2M during the year, or $2,273 per active participant against a same-size median of $1,934; participants contributed $4.2M and $731K arrived as rollovers and other contributions. Benefits paid out totalled $10.6M.
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 $2,580.
Across the filings on record, net assets went from $26.3M in 2009 to $113M in 2025 (up 328%), and participants from 721 to 692 (down 4%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure, plan year 2024 | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $149,688 | $46,267 | $92,294 | $53,102 |
| Employer contributions per active participant | $2,274 | $1,934 | $3,564 | $2,175 |
| Schedule C compensation per participant | — | $113 | $137 | $123 |
| Schedule C compensation, share of net assets | — | 0.25% | 0.17% | 0.26% |
| Administrative expenses per participant | $2.78 | $109 | $130 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 500 to 999 participants (10,588 plans), finance and insurance (4,391) and all US plans (63,460). 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 |
|---|---|---|---|---|---|---|
| 2025 | 692 | $113M | $163,025 | $1.2M | $4.2M | $0 |
| 2024 | 693 | $104M | $149,688 | $1.2M | $4.2M | $0 |
| 2023 | 698 | $93.5M | $133,961 | $1.2M | $4.2M | $0 |
| 2022 | 696 | $81.5M | $117,049 | $1.1M | $3.8M | $0 |
| 2021 | 688 | $99.7M | $144,916 | $1.1M | $3.7M | $0 |
| 2020 | 714 | $89.4M | $125,144 | $1.1M | $3.6M | $0 |
| 2019 | 688 | $78.5M | $114,141 | $1.0M | $3.3M | $0 |
| 2018 | 703 | $64.2M | $91,320 | $1.0M | $3.2M | $0 |
| 2017 | 703 | $66.4M | $94,519 | $921K | $2.9M | $0 |
| 2016 | 700 | $55.9M | $79,894 | $891K | $2.7M | $0 |
| 2015 | 714 | $51.9M | $72,693 | $878K | $2.7M | $0 |
| 2014 | 691 | $51.7M | $74,873 | $825K | $2.5M | $0 |
| 2013 | 694 | $48.7M | $70,137 | $794K | $2.4M | $0 |
| 2012 | 696 | $38.8M | $55,708 | $786K | $2.4M | $0 |
| 2011 | 706 | $33.8M | $47,933 | $750K | $2.4M | $0 |
| 2010 | 707 | $31.7M | $44,861 | $719K | $2.3M | $0 |
| 2009 | 721 | $26.3M | $36,517 | $653K | $2.1M | $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$103,733,526
- Employer contributions$1,159,298
- Participant contributions$4,199,768
- Rollovers and other contributions$731,304
- Total contributions$6,090,370
- Total income, including investment results$19,681,838
- Benefits paid$10,600,038
- Administrative expenses$2,580
- Total expenses$10,602,618
- Net income$9,079,220
- Net transfers$0
- Net assets, end of year$112,812,746
Participants
- Active participants510
- Retired or separated, receiving benefits14
- Retired or separated, entitled to future benefits168
- Participants with account balances609
- Total participants, end of year692
Fees and service providers
No service provider organisations are listed on Schedule C for this plan year.
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.
Administrative expenses on Schedule H
- Contract administrator fees$2,580
- Total administrative expenses$2,580
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$112M · 99.1%
- Participant loans$1.0M · 0.9%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmJohnson Oconnor Feron & Carucci LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- Blackout period during the yearNo
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
2EProfit-sharing plan2FERISA section 404(c) plan2GTotal participant-directed account plan2JCode section 401(k) feature2KCode section 401(m) arrangement3DPre-approved pension plan2TTotal or partial participant-directed account plan with a default investment account
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 522120: Savings Institutions.
Other plans of Middlesex Savings Bank
| Plan | Participants | Net assets |
|---|---|---|
| Sbera Pension Plan As Adopted by Middlesex Savings Bank | 766 | $185M |
Similar plans in Massachusetts
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Bay Coast Bank 401(k) Plan | Bay Coast Bank | 694 | $78.3M | $112,812 |
| John Hancock Savings and Investment Plan | John Hancock Life Insurance Company U.S.A | 688 | $116M | $168,961 |
| Amundi US, Inc. Retirement Benefit Plan | Amundi US, Inc. | 715 | $130M | $181,637 |
| Arrowstreet Capital L.P. 401(k) Plan | Arrowstreet Capital L.P. | 676 | $165M | $243,581 |
| Amundi US, Inc. Savings and Investment Plan | Amundi US, Inc. | 724 | $174M | $240,628 |
| Cambridge Savings Bank Employee Welfare Savings Plan | Cambridge Savings Bank | 675 | $117M | $173,684 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is Sbera 401(k) Plan As Adopted by Middlesex Savings Bank?
692 participants at the end of the plan year ending 31 Dec 2025, of whom 510 were active employees, with net assets of $112,812,746. Among defined contribution plans that places it in the 500 to 999 participants band, which held 10,588 plans in plan year 2024.
What does Middlesex Savings Bank contribute per participant?
The filing reports $1,159,298 in employer contributions for the year, which is $2,273 per active participant; the median for plans of the same type and size was $1,934 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 no provider compensation for the year. Administrative expenses on Schedule H were $2,580. 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 Middlesex Savings Bank. The financial statements were audited by Johnson Oconnor Feron & Carucci 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. 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 2025 to 31 Dec 2025, received by the Department of Labor on 28 Jul 2026. 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 27-0402195, plan 002, received 28 Jul 2026; 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.