Enterprise Bank and Trust Company 401(k) Review & Grade
Enterprise Bank and Trust Company 401(k) Plan
Lowell, MAFinance & Insurance596 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,616Employer $ per active participant
$10,327Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$128.1MNet plan assets, end of year
$178,126Average balance per account
Score breakdown
- Employer generosity25.2 / 5050th percentile for employer $ per participant
- Low cost20.1 / 2581th percentile for low admin cost vs. same-size plans
- Employee saving11.5 / 1577th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 50th |
| Lower admin cost | 81th |
| Employee saving | 77th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Enterprise Bank and Trust put in about $3,616 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $2,156,670 |
| Participant (employee) contributions | $6,159,842 |
| Other contributions (incl. rollovers in) | $1,114,814 |
| Administrative expenses paid from the plan | $88,574 |
| Contract administrator fees | $82,574 |
| Benefits paid out | $9,596,259 |
| Net assets, start / end of year | $111.5M / $128.1M |
| Active participants, start / end of year | 592 / 601 |
| Participants with account balances | 719 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdmp Assurance, LLP |
Largest service providers (Schedule C)
| John Hancock | $82,574 reported compensation |
| Berry Dunn Mcneil & Parker, LLC | $6,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250717111918NAL0000183297001, received 2025-07-17, EIN 04-2993547, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.