Department of Labor filing

WESTFIELD BANK

401(K) PLAN AS ADOPTED BY WESTFIELD BANK · For the plan year ended Dec 31, 2024

Public filing 2024 · received Jul 21, 2025Verified current terms Not available

Plan at a glance

How good does the filing look?

60filing comparison
out of 100

The filing looks somewhat better than typical peers on the measures we can compare. This is a filing comparison, not a complete benefits score.

$Employer support

$4,197

Reported employer contributions per active participant.

Higher than about 68% of comparable plans

#People in the filing

328

Active participants reported for 2024.

The filing does not say how many employees are currently contributing.

¢Visible plan-paid fees

$215 / participant

Reported administrative expense—not every fee an employee may pay.

Lower cost than about 43% of comparable plans

↗Investment performance

Not available

Plan assets changed 14.7%, but that includes contributions, withdrawals, and market movement.

Asset change is not investment performance.

What we still need to judge the benefit

Current match formula, vesting, eligibility, investment choices, fund expense ratios, and employee-level fees.

See missing terms ↓

Filing comparison · 202460out of 100 among similar-size plans in the same industry when enough peers exist

How this filing compares

Reported employer contributions68th percentileTypical peer $3,279 · based on 1,427 comparable plans

Lower reported administrative expense43rd percentileTypical peer $184 · based on 1,443 comparable plans

This comparison uses historical filing figures. It does not compare current match formulas, vesting, investments, or employee fees.

The short version

What the latest filing tells us

For the plan year ended Dec 31, 2024, WESTFIELD BANK reported $1,376,482 in employer contributions across the plan and 328 active participants. That works out to $4,197 per active participant. It is useful context, but it is not the current match formula and it does not show what any one employee received.

Participation proxy80%

Active participants divided by all end-of-year plan participants. This is not the company participation rate because the filing does not report every eligible employee.

Employer money trendUp 189.3%

Change in reported employer contribution per active participant across the filing history shown.

Expense trendDown 26.7%

Change in reported administrative expense per participant. Investment expenses may not be included.

Peer context60/100

A filing comparison among similar-size plans in the same industry when enough peers exist.

Where the public filing stops

Current match, vesting, eligibility, employee fees, and investment choices require a dated plan document. Until we have one, those details stay blank.

Latest financial record

Contributions, assets, and expenses

These figures are reported totals for the plan—not individual account balances or promises to any employee.

Employer contributions: $1,376,482
Participant contributions: $1,767,648
Other contributions: $1,717,507
Employer share of reported contributions: 43.8%
Beginning assets: $41,915,329
Ending assets: $48,057,042
Ending net assets: $48,057,042
Ending liabilities: $0
Total income: $10,446,627
Total expenses: $4,305,159
Administrative expenses: $93,920
Participant loans: $785,930

Three-year filing history

How the reported figures changed

Each chart uses its own scale and starts at zero. When the filing has no value, the chart says so rather than turning it into a zero.

Employer contributions reported per active participant

2022

$1,450

2023

$4,123

2024

$4,197

Plan-paid administrative expenses per participant

2022

$293

2023

$148

2024

$215

Active participants

2022

324

2023

323

2024

328

Detailed filing history
Plan year	Per active participant	Active participants	Plan assets	Filing ID
2024	$4,197	328	48.1M	20250721113301NAL0003564082001
2023	$4,123	323	41.9M	20240708133554NAL0019954880001
2022	$1,450	324	33.9M	20230707065553NAL0008897571001

Changes in plan assets are not the same as investment performance. Each row uses the selected public filing for that year.

Plan operations

Details worth knowing

Participant loans as a share of plan assets: 1.6%
Independent accountant’s opinion: Unqualified opinion Code 1
Late participant contributions reported: Not stated in the filing
Public plan identifier: 043305700-002

Reported plan details

Identity and filing status

Plan type: Retirement plan
Employer arrangement: Single-employer plan
Plan effective date: Apr 1, 1995
Industry: Finance and insurance
Amended filing: No
Final filing for this plan: No
Short plan year: No
401(k) feature reported: Yes
Show DOL characteristic codes
2E2F2G2J2K2T3D

Reported service providers

Organizations named in the latest filing

The public dataset does not always identify a provider’s exact role. Compensation stays blank when it was not separately reported.

Provider	Plan year	Direct compensation	Indirect compensation
PRINCIPAL LIFE INSURANCE COMPANY	2024	Not reported	unknown

Current plan terms

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Filing ACK_ID20250721113301NAL0003564082001

Data sourceDOL Form 5500 bulk data ↗

Filing searchEFAST2 ↗