Needham Bank 401(k) match, vesting and fees
What Needham Bank'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 | Principal Life Insurance Company | Schedule C ↗ |
| Independent auditor | Wolf & Company, P.C. (unmodified opinion) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
How the plan compares
Plan year 2025 medians for 1,478 defined-contribution plans in finance and insurance with 100 to 499 participants.
| Needham Bank: employer contribution per participant | $6,947 | |
| Peer median | $3,122 |
| Needham Bank: average balance | $160,902 | |
| Peer median | $111,687 |
| Needham Bank: admin expenses ÷ assets | 0.13% | |
| Peer median | 0.20% |
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 $46M at the end of plan year 2023 to $69M at the end of plan year 2025.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2025 | 491 | $69M | $3M | $6,947 | 0.13% | Not published | Form 5500 ↗ |
| 2024 | 398 | $58M | $2.6M | $6,494 | 0.13% | Not published | Form 5500 ↗ |
| 2023 | 356 | $46M | $1.2M | $3,333 | 0.11% | Not published | Form 5500 ↗ |
Other Needham Bank plans (2)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
Needham Bank Employee Stock Ownership Plan
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.
| Independent auditor | Wolf & Company, P.C... (unmodified opinion) | Schedule H ↗ |
| Plan type and status | Retirement · Active | Form 5500 ↗ |
Needham Bank Defined Benefit Plan
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.
| Plan type and status | Pension (defined benefit) · Terminated (final filing) | Form 5500 ↗ |
Common questions
Does Needham Bank match 401(k) contributions?
The match terms for the Needham Bank 401(k) Plan have not been published from its filing yet. The plan year 2025 filing reports $3M in employer contributions, about $6,947 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Needham Bank 401(k) match vested?
The vesting schedule for the Needham Bank 401(k) Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Needham Bank 401(k)?
The recordkeeper listed on Schedule C of the plan year 2025 filing is Principal Life Insurance Company. The plan administrator is Needham Bank.
I left Needham Bank. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Needham Bank, (781) 474-5882) or the recordkeeper, Principal Life Insurance Company. The Needham Bank old 401(k) page lists the contacts from every plan filing. Find an old Needham Bank 401(k)
Data from the public Form 5500 annual reports Needham Bank filed with the U.S. Department of Labor (plan years 2023 and 2024 and 2025) 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 Needham Bank. Not financial advice. Report a correction · Methodology