401(k) · DOL Form 5500 · 2023

Salem Five Cents Savings Bank 401(k) Plan

Data updated 2026-08-11

$99M
Total assets
635
Participants
91st
Percentile by assets
$156,183
Avg per participant
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Official DOL plan name: Salem Five 401(k) Retirement Plan · Sponsored by Salem Five Cents Savings Bank · Massachusetts · Finance & Insurance

$99M in assets, 635 participants

Salem Five Cents Savings Bank's Salem Five 401(k) Retirement Plan reported $99M in total assets and 635 participants in its 2023 DOL Form 5500 filing, ranking in the 91st percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • 91st percentile by assets (of 127,072 plans)
  • #7,668 in Finance & Insurance (8,869 peers)

Where Salem Five 401(k) Retirement Plan sits by assets

Salem Five 401(k) Retirement Plan sits in the top 10% of all filed plans by assets, $99M for 635 participants (~$156,183/participant), up 10.4% in 2023.

$99M
total plan assets (2023 EOY)
635
covered participants
91st
percentile by assets (of 127,072 plans)
$156,183
avg assets per participant

Where Salem Five 401(k) Retirement Plan sits by total assets

Salem Five 401(k) Retirement Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$99,176,502 Top 9% higher than 91% of 127,068 filed plans

This plan $0 $2,010,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Salem Five 401(k) Retirement Plan reported net income rose from -$24M in the plan year 2022 filing to $9M in the plan year 2023 filing.
  • Salem Five 401(k) Retirement Plan end-of-year assets rose from $90M in the plan year 2022 filing to $99M in the plan year 2023 filing.
  • Salem Five 401(k) Retirement Plan reported participants fell from 656 in the plan year 2022 filing to 635 in the plan year 2023 filing.

See the national 2022→2023 release diff →

State
Massachusetts
Industry
Finance & Insurance

Salem Five 401(k) Retirement Plan vs the 2023 asset distribution

By assets, Salem Five 401(k) Retirement Plan outranks 91% of the 127,072 plans that filed a Form 5500 for the 2023 plan year, and holds roughly 1.0x the national average plan size of $100M (721 average participants).

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$90M
Net Assets (End of Year)$99M
Net Income$9M
Employer EIN041802790
Plan Effective Date1993-11-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Salem Five Cents Savings Bank)

$150M$160M$170M$180M$190M 202220232024 $157M $183M ▲ +16.7%
Total plan assets by year, all Salem Five Cents Savings Bank plans on file
Year Plans Participants Total Assets
2022 2 770 $157M
2023 2 741 $174M
2024 2 754 $183M

Nearby 401(k) Plans in Massachusetts

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Salem Five 401(k) Retirement Plan vs. nearby 401(k) plans in Massachusetts, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 -10010203040 Total assets ($B) Participants Salem Five 401(k) Re…, Total assets ($B): 0.099176502 · Participants: 635Salem Five 401(k) Re…Fidelity Retirement …, Total assets ($B): 28.649852331 · Participants: 62289Fidelity Retirement …Liberty Mutual 401(k…, Total assets ($B): 10.556596852 · Participants: 37052Liberty Mutual 401(k…Massachusetts Instit…, Total assets ($B): 6.829912863 · Participants: 14094Massachusetts Instit…Boston Scientific Co…, Total assets ($B): 5.786107181 · Participants: 19881Boston Scientific Co…Philips North Americ…, Total assets ($B): 5.779286156 · Participants: 19120Philips North Americ…
Salem Five 401(k) Retirement Plan vs. nearby 401(k) plans in Massachusetts, assets vs. participants
Compare Salem Five 401(k) Retirement Plan side-by-side with 3 peers →

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to Salem Five 401(k) Retirement Plan by total assets, not by location.

Frequently Asked Questions

How did Salem Five 401(k) Retirement Plan assets move in 2023? ▼
Salem Five 401(k) Retirement Plan grew at a solid clip - up 10.4% during 2023, from $90M to $99M. Reported net income was $9M.
How have Salem Five Cents Savings Bank plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Salem Five Cents Savings Bank's sponsor-wide assets grew 16.7%, from $157M to $183M.
Where does Salem Five 401(k) Retirement Plan rank by assets among Form 5500 filers? ▼
Salem Five 401(k) Retirement Plan ranks in the 91st percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 10% of all filed plans by assets).
Which 401(k) plans are similar in size to Salem Five 401(k) Retirement Plan? ▼
Among 401(k) plans in other states, the closest by assets is Southeast Alaska Regional Health Consortium (Searhc) 401(k) Plan in AK ($99M, 951 participants).

Next read for Salem Five 401(k) Retirement Plan

Scale reading

Ways to act on Salem Five 401(k) Retirement Plan's numbers.

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 041802790.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.