STERLING NATIONAL BANK 401(K) AND PROFIT SHARING PLAN
ERISA Form 5500 plan record drawn from DOL EBSA — verify with linked source filings below.
WEBSTER BANK, NATIONAL ASSOCIATION
This 401(k) plan holds $349M in total assets and serves 1,461 participants as of 2022. It is sponsored by WEBSTER BANK, NATIONAL ASSOCIATION in New York. The plan reported a net loss of $69M for the year.
What the Filing Says About STERLING NATIONAL BANK 401(K) AND PROFIT SHARING PLAN
STERLING NATIONAL BANK 401(K) AND PROFIT SHARING PLAN is a 401(k) retirement plan sponsored by WEBSTER BANK, NATIONAL ASSOCIATION, headquartered in New York. As of the 2022 Form 5500 filing, the plan reports $349M in total end-of-year assets and covers 1,461 participants across the Finance & Insurance industry. The sponsor's EIN on file with the U.S. Department of Labor is 060273620, and the plan has been effective since 1991-08-01. Its filing status is currently FILING RECEIVED.
Year over year, total assets moved from $424M at the beginning of 2022 to $349M at year-end — a decline of 17.6%. Net assets (after liabilities) closed the year at $346M, with reported net income of $-69,210,325 driven by investment returns, contributions received, and benefit payments during the period. These figures reflect what the plan administrator certified on Schedule H or Schedule I of the Form 5500 annual return and can be compared against 2 prior plan-year filings from the same sponsor shown below.
Asset totals and participant counts reflect a single plan year snapshot and can change materially with market conditions, plan mergers, or workforce changes. Fields such as "net income" include both realized investment performance and contribution/distribution flows — a single-year figure does not by itself indicate plan health or participant outcomes. This page summarizes public DOL disclosures for research and educational purposes only and is not retirement, tax, legal, or financial advice. Before making decisions about your own retirement benefits or evaluating an employer's plan, verify the underlying filing directly via the DOL EFAST2 system and consult a qualified professional.
Financial Summary (2023)
| Total Assets (Beginning of Year) | $424M |
| Total Assets (End of Year) | $349M |
| Net Assets (End of Year) | $346M |
| Net Income | $-69,210,325 |
| Plan Type | 401(k) |
| Employer EIN | 060273620 |
| Plan Effective Date | 1991-08-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (WEBSTER BANK, NATIONAL ASSOCIATION)
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 3 | 4,986 | $1.1B |
| 2023 | 3 | 4,736 | $1.2B |
| 2024 | 2 | 3,774 | $1.3B |
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Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.
Source: DOL EFAST2 filing system (efast.dol.gov) — original filing retrieval by EIN 060273620.
Reference: IRS Publication 560 — Retirement Plans for Small Business, contribution-limit rules.
Reference: IRS Publication 590-B — Distributions from IRAs, RMD rules under SECURE Act 2.0.
Read our methodology — how this data is sourced, computed, and verified.