Bay State Savings Bank401(k)
SBERA 401(K) PLAN AS ADOPTED BY BAY STATE SAVINGS BANK · WORCESTER, MA · plan year 2023
Peer grade: A- · admin costs + employer contributions vs same-size plans · how grading works
Bay State Savings Bank reported $350 in plan administrative expenses for 2023: 0.00% of average plan assets, lower than ~75% of peers. Employer contributions averaged $1,391 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.00% to 0.01%. The plan sits in the $1M–$10M size bracket, benchmarked here against 22,307 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in Massachusetts (2,093rd of 2,726), and 4,227th of 4,798 in finance & insurance. In 2023, employees put in $3.64 for every $1.00 the employer contributed.
Bay State Savings Bank's 2023 employer contribution ran above the $1,308 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2023 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
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Source: U.S. Department of Labor, Form 5500 series, EIN 753238872 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.