Defined Benefit (Pension) · DOL Form 5500 · 2023

The Hanover Insurance Company Pension Plan

Data updated 2026-08-11

$363M
Total assets
677
Participants
97th
Percentile by assets
$536,211
Avg per participant
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Official DOL plan name: The Hanover Insurance Group Cash Balance Pension Plan · Sponsored by The Hanover Insurance Company · Massachusetts · Finance & Insurance

$363M in assets, 677 participants

The Hanover Insurance Company's The Hanover Insurance Group Cash Balance Pension Plan reported $363M in total assets and 677 participants in its 2023 DOL Form 5500 filing, ranking in the 97th 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.

  • 97th percentile by assets (of 127,072 plans)
  • #8,372 in Finance & Insurance (8,869 peers)

Where The Hanover Insurance Group Cash Balance Pension Plan sits by assets

The Hanover Insurance Group Cash Balance Pension Plan sits in the top 5% of all filed plans by assets, $363M for 677 participants (~$536,211/participant), down 2.3% in 2023.

$363M
total plan assets (2023 EOY)
677
covered participants
97th
percentile by assets (of 127,072 plans)
$536,211
avg assets per participant

The plan reported a net loss of $8M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • The Hanover Insurance Group Cash Balance Pension Plan reported net income rose from -$106M in the plan year 2022 filing to -$8M in the plan year 2023 filing.
  • The Hanover Insurance Group Cash Balance Pension Plan reported participants fell from 732 in the plan year 2022 filing to 677 in the plan year 2023 filing.
  • The Hanover Insurance Group Cash Balance Pension Plan end-of-year assets fell from $372M in the plan year 2022 filing to $363M in the plan year 2023 filing.

See the national 2022→2023 release diff →

State
Massachusetts
Industry
Finance & Insurance

The Hanover Insurance Group Cash Balance Pension Plan vs the 2023 asset distribution

By assets, The Hanover Insurance Group Cash Balance Pension Plan outranks 97% of the 127,072 plans that filed a Form 5500 for the 2023 plan year, and holds roughly 3.6x the national average plan size of $100M (721 average participants).

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$372M
Net Assets (End of Year)$363M
Net Income-$8M
Employer EIN135129825
Plan Effective Date1941-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (The Hanover Insurance Company)

$1.3B$1.4B$1.5B$1.6B$1.7B 202220232024 $1.4B $1.64B â–² +17.1%
Total plan assets by year, all The Hanover Insurance Company plans on file
Year Plans Participants Total Assets
2022 2 5,105 $1.4B
2023 2 5,303 $1.5B
2024 2 5,274 $1.6B

Nearby Defined Benefit (Pension) Plans in Massachusetts

Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.

The Hanover Insurance Group Cash Balance Pension Plan vs. nearby Defined Benefit (Pension) plans in Massachusetts, assets vs. participants

The Hanover Insurance Group Cash Balance Pension Plan vs. nearby Defined Benefit (Pension) plans in Massachusetts, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 -5051015 Total assets ($B) Participants The Hanover Insuranc…Consolidated Cash Ba…New England Teamster…Liberty Mutual Retir…Massachusetts Instit…N. Atlantic States C…
The Hanover Insurance Group Cash Balance Pension Plan vs. nearby Defined Benefit (Pension) plans in Massachusetts, assets vs. participants
Compare The Hanover Insurance Group Cash Balance… side-by-side with 3 peers →

Similar-Sized Defined Benefit (Pension) Plans Nationally

Defined Benefit (Pension) plans in other states closest to The Hanover Insurance Group Cash Balance Pension Plan by total assets, not by location.

Frequently Asked Questions

How did The Hanover Insurance Group Cash Balance Pension Plan assets move in 2023? ▼
The Hanover Insurance Group Cash Balance Pension Plan edged down modestly - down 2.3% during 2023, from $372M to $363M. Reported net income was -$8M.
How have The Hanover Insurance Company plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), The Hanover Insurance Company's sponsor-wide assets grew 17.2%, from $1.4B to $1.6B.
Where does The Hanover Insurance Group Cash Balance Pension Plan rank by assets among Form 5500 filers? ▼
The Hanover Insurance Group Cash Balance Pension Plan ranks in the 97th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 5% of all filed plans by assets).
Which Defined Benefit (Pension) plans are similar in size to The Hanover Insurance Group Cash Balance Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is General Dynamics Land Systems Pension Agreement in MI ($363M, 637 participants).

Next read for The Hanover Insurance Group Cash Balance…

Scale reading

Ways to act on The Hanover Insurance Group Cash Balance Pension 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 135129825.

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.