Western New England Bancorp, Inc.ESOP
EMPLOYEE STOCK OWNERSHIP PLAN OF WESTFIELD FINANCIAL, INC. · WESTFIELD, MA · plan year 2022
Western New England Bancorp, Inc.'s 2022 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $12,451,417 across 414 participant accounts, with employer contributions averaging $3,492 per active participant. See methodology for what Form 5500 does and doesn't capture.
Across the 1 year on file its reported administrative ratio rose from 0.00% to 0.01%. The plan sits in the $10M–$50M size bracket, benchmarked here against 26,806 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in Massachusetts (1,697th of 2,726), and 3,741st of 4,798 in finance & insurance.
Western New England Bancorp, Inc.'s 2022 employer contribution ran above the $2,266 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.
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Source: U.S. Department of Labor, Form 5500 series, EIN 731627673 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.