401(k) · DOL Form 5500 · 2023

Hanover Community Bank 401(k) Plan

Data updated 2026-08-25

$15M
Total assets Small plan by assets
155
Participants Small participant base
67th
Percentile by assets National rank
$94,066
Avg per participant Below avg balance/head
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Official DOL plan name: Hanover Community Bank 401(k) Plan · Sponsored by Hanover Community Bank · New York · Finance & Insurance

$15M in assets, 155 participants

Hanover Community Bank's Hanover Community Bank 401(k) Plan reported $15M in total assets and 155 participants in its 2023 DOL Form 5500 filing, ranking in the 67th 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.

  • #4,589 in Finance & Insurance (8,869 peers)

Coverage in New York

Hanover Community Bank 401(k) Plan covers 155 participants in New York, about 19% of the average New York filer (state average ~798 per filing). Assets: $15M.

#4,589
in Finance & Insurance (8,869 peers)
+41.3%
assets growth YoY

Hanover Community Bank 401(k) Plan's outsized position by total assets

Hanover Community Bank 401(k) Plan vs every filed plan by assets

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

$14,580,278 Top 33% higher than 67% of 127,068 filed plans

This plan $0 $2,050,000,000 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

Hanover Community Bank 401(k) Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Hanover Community Bank 401(k) Plan sits mid-pack in the medium band (155 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Hanover Community Bank 401(k) Plan reported net income rose from $358K in the plan year 2022 filing to $4M in the plan year 2023 filing.
  • Hanover Community Bank 401(k) Plan end-of-year assets rose from $10M in the plan year 2022 filing to $15M in the plan year 2023 filing.
  • Hanover Community Bank 401(k) Plan reported participants rose from 129 in the plan year 2022 filing to 155 in the plan year 2023 filing.

See the national 2022→2023 release diff →

DOL schedule card

Filing strip 261454386 · Hanover Community Bank PY 2023 · 401(k)

Hanover Community Bank 401(k) Plan · $15M · 155 · 67th

  • EBSA $15M
  • EBSA 155
  • EBSA 67th
  • EBSA 401(k)
  • EBSA near Don Jenkins Auto Group 401(k) Plan
  • EBSA ind #4589

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in New York →

Hanover Community Bank 401(k) Plan in the asset neighbourhood

Hanover Community Bank 401(k) PlanHanover Community Bank 401(k…$15MDon Jenkins Auto Group 401(k) PlanDon Jenkins Auto Group 401(k…$15MMackin Educational Resources 401(k) Retirement Savings PlanMackin Educational Resources…$15MMgc Contractors, Inc. 401(k) PlanMgc Contractors, Inc. 401(k)…$15MPatriot Federal Credit Union Capital Accumulation PlanPatriot Federal Credit Union…$15M
End-of-year total assets ($M) among Hanover Community Bank 401(k) Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

New York filing particulars

Total Assets (Beginning of Year)$10M
Net Assets (End of Year)$15M
Net Income$4M
Employer EIN261454386
Plan Effective Date2022-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Hanover Community Bank)

Sponsor-wide plan assets over time

All Hanover Community Bank plans reported in each filing year

Latest sponsor-wide plan assets
$18M 71.9739446957218% vs 2022
2024 filing year
$5M$10M$15M$20M 202220232024 $10.3M $17.7M ▲ +71.9%
Year Plans Participants Total Assets
2022 1 129 $10M
2023 1 155 $15M
2024 1 167 $18M

Nearby 401(k) Plans in New York

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

Hanover Community Bank 401(k) Plan vs. nearby 401(k) plans in New York, assets vs. participants Scatter plot of 6 data points. -50000050000100000150000 -20020406080 Total assets ($B) Participants Hanover Community Bank 401(k) Plan, Total assets ($B): 0.014580278 · Participants: 155Hanover Community Bank 401(k) PlanIBM 401 (K) Plus Plan, Total assets ($B): 57.428456306 · Participants: 54912IBM 401 (K) Plus PlanPfizer Savings Plan, Total assets ($B): 19.56134085 · Participants: 30033Pfizer Savings PlanMorgan Stanley 401(k) Plan, Total assets ($B): 19.235068266 · Participants: 55363Morgan Stanley 401(k) PlanThe Pepsico Savings Plan, Total assets ($B): 13.651296 · Participants: 133597The Pepsico Savings PlanThe Goldman Sachs 401(k) Plan, Total assets ($B): 11.428659742 · Participants: 24866The Goldman Sachs 401(k) Plan
Hanover Community Bank 401(k) Plan vs. nearby 401(k) plans in New York, assets vs. participants
Compare Hanover Community Bank 401(k) Plan side-by-side with 3 peers →

Hanover Community Bank 401(k) Plan's out-of-state 401(k) peers by assets and headcount

Outside New York, the nearest 401(k) by assets is Don Jenkins Auto Group 401(k) Plan in FL ($15M); by covered participants it is Fraser Business Equipment Salary Deferral Plan in PA (155 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (155 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Hanover Community Bank 401(k) Plan assets move in 2023? ▼
Hanover Community Bank 401(k) Plan surged - up 41.3% during 2023, from $10M to $15M. Reported net income was $4M.
How have Hanover Community Bank plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Hanover Community Bank's sponsor-wide assets grew 72.0%, from $10M to $18M.
Which 401(k) plans are similar in size to Hanover Community Bank 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by assets is Don Jenkins Auto Group 401(k) Plan in FL ($15M, 986 participants).
Which 401(k) plans cover a similar participant headcount to Hanover Community Bank 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Fraser Business Equipment Salary Deferral Plan in PA (155 participants, $14M in assets).

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 261454386.

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.