Florence Electric 401(k) match, vesting and fees
What Florence Electric's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | John Hancock Life Insurance Company | Schedule C ↗ |
| Independent auditor | Cbiz Cpas PC (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
How the plan compares
Plan year 2024 medians for 3,874 defined-contribution plans in construction with 100 to 499 participants.
| Florence Electric: employer contribution per participant | $1,156 | |
| Peer median | $2,411 |
| Florence Electric: average balance | $53,552 | |
| Peer median | $61,921 |
| Florence Electric: admin expenses ÷ assets | 0.46% | |
| Peer median | 0.39% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $14.2M at the end of plan year 2021 to $15.9M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 304 | $15.9M | $343K | $1,156 | 0.46% | Not published | Form 5500 ↗ |
| 2023 | 286 | $15M | $311K | $1,087 | 0.48% | Not published | Form 5500 ↗ |
| 2022 | 260 | $11.8M | $316K | $1,216 | 0.48% | Not published | Form 5500 ↗ |
| 2021 | 257 | $14.2M | $288K | $1,162 | 0.54% | Not published | Form 5500 ↗ |
Common questions
Does Florence Electric match 401(k) contributions?
The match terms for the Kaydon Employee Earnings Plan have not been published from its filing yet. The plan year 2024 filing reports $343K in employer contributions, about $1,156 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Florence Electric 401(k) match vested?
The vesting schedule for the Kaydon Employee Earnings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Florence Electric 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is John Hancock Life Insurance Company. The plan administrator is Florence Electric, LLC.
I left Florence Electric. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Florence Electric, LLC, (781) 769-7110) or the recordkeeper, John Hancock Life Insurance Company. The Florence Electric old 401(k) page lists the contacts from every plan filing. Find an old Florence Electric 401(k)
Data from the public Form 5500 annual reports Florence Electric filed with the U.S. Department of Labor (plan years 2021 and 2022 and 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Florence Electric. Not financial advice. Report a correction · Methodology