Recordkeeping fees per participant
not reported
Not reported on this filing.
Employers › Western
Western 401(k)
- WNEB Nasdaq
- Finance and insurance
- Westfield, MA
- EIN 04-3305700
- 1 plan with Schedule H financials
- Plan year 2024
- filed as Westfield Bank
- SEC registrant Western New England Bancorp, Inc.
Administrative expenses excluding investment management, per participant · 401(k) Plan AS Adopted by Westfield Bank · plan year 2024
$173.57
Higher than 67% of the 24,371 plans $10 to 50M that report it.
Source
= $63,525 / 366
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250721113301NAL0003564082001, received 2025-07-21
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250721113301NAL0003564082001, received 2025-07-21
Percentiles compare this plan with the Schedule H plans $10 to 50M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-07-21.
Cost and contributions
Administrative expenses per participant
$256.61
Higher than 64% of the 25,098 plans $10 to 50M that report it.
Source
= $93,920 / 366
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250721113301NAL0003564082001, received 2025-07-21
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250721113301NAL0003564082001, received 2025-07-21
Administrative expenses as a share of assets
0.195%
Higher than 34% of the 25,132 plans $10 to 50M that report it.
Source
= $93,920 / $48,057,042
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250721113301NAL0003564082001, received 2025-07-21
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250721113301NAL0003564082001, received 2025-07-21
Employer contributions per participant
$3,761
Higher than 83% of the 24,050 plans $10 to 50M that report it.
Source
= $1,376,482 / 366
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250721113301NAL0003564082001, received 2025-07-21
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250721113301NAL0003564082001, received 2025-07-21
Employer share of total contributions
28.3%
Higher than 52% of the 24,084 plans $10 to 50M that report it.
Source
= $1,376,482 / $4,861,637
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250721113301NAL0003564082001, received 2025-07-21
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250721113301NAL0003564082001, received 2025-07-21
Plan terms, as stated in Western's SEC filings
Employer match
“Additionally, the Company matches up to 100%”
Form 11-K filed 2026-06-18, for the year ended 2025-12-31 · plan description note, contributions · source document
Vesting
“Participants are immediately vested in”
Form 11-K filed 2026-06-18, for the year ended 2025-12-31 · plan description note, vesting · source document
Terms quoted from the filing for the year ended 2025-12-31. Figures cover plan year 2024. The plan document governs.
Plan features
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2T default investment (QDIA) · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250721113301NAL0003564082001, received 2025-07-21
Full record, 401(k) Plan AS Adopted by Westfield Bank
| Field | Value | Source |
|---|---|---|
| Plan sponsor | WESTFIELD BANK | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Plan name | 401(K) PLAN AS ADOPTED BY WESTFIELD BANK | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Sponsor EIN / plan number | 04-3305700 / 002 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Sponsor location | WESTFIELD, MA | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Industry (business code) | 522120, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Filing received | 2025-07-21 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Participants, beginning of year | 437 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Active participants | 328 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Participants, end of year | 410 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Participants with an account balance | 366 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Total assets, beginning of year | $41,915,329 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Total assets, end of year | $48,057,042 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Net assets, end of year | $48,057,042 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Total income | $10,446,627 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Net income | $6,141,468 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Employer contributions | $1,376,482 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Participant contributions | $1,767,648 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Other contributions (incl. rollovers) | $1,717,507 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Total contributions | $4,861,637 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Benefit payments | $4,211,239 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Total expenses (incl. benefit payments) | $4,305,159 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Total administrative expenses | $93,920 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Contract administrator fees | $63,525 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Investment advisory and management fees | $30,395 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Administrative expenses excluding investment management | $63,525 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Held in common/collective trusts | $25,147,304 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Held in mutual funds | $19,872,224 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250721113301NAL0003564082001, received 2025-07-21 |
| Independent auditor | WOLF & COMPANY, P.C. | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250721113301NAL0003564082001, received 2025-07-21 |
Position = column in the DOL layout for form year 2024. Filing 20250721113301NAL0003564082001, received 2025-07-21.
Service providers paid directly by the plan
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANYrecordkeeper | CONTRACT ADMINISTRATOR | 13 Contract administrator; 37 Participant loan processing; 50 Direct payment from the plan; 64 Recordkeeping fees | $63,525 | yes |
| USI ADVISORS, INC. | INVESTMENT ADVISORY | 27 Investment advisory (plan); 50 Direct payment from the plan | $30,387 | yes |
| MORNINGSTAR INVESTMENT MANAGEMENT L | INV ADV, PARTICIPANTS | 26 Investment advisory (participants); 70 Consulting fees | $0 | yes |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250721113301NAL0003564082001, received 2025-07-21.
What changed since the 2023 plan year
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $41,915,329 | $48,057,042 | 14.7% |
| Participants with a balance | 356 | 366 | 2.8% |
| Administrative expenses | $62,248 | $93,920 | 50.9% |
| Recordkeeping fees per participant | not reported | not reported | |
| Employer contributions | $1,331,728 | $1,376,482 | 3.4% |
Prior filing 20240708133554NAL0019954880001, received 2024-07-08; the plan years are contiguous.
Alerts, claims and corrections
Sponsor name as filed: WESTFIELD BANK; SEC registrant: Western New England Bancorp, Inc. (CIK 1157647, matched by 11-K plan title; display name from the Form 11-K cover).