Rockland Trust Company 401(k) Review & Grade
Rockland Trust Co Ee Savings PS and Stock Ownership Plan
Hanover, MAFinance & Insurance1,874 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,126Employer $ per active participant
$7,984Employee $ saved per active participant
0.06%Direct admin cost, % of plan assets
$300.0MNet plan assets, end of year
$128,978Average balance per account
Score breakdown
- Employer generosity33.8 / 5068th percentile for employer $ per participant
- Low cost21.1 / 2584th percentile for low admin cost vs. same-size plans
- Employee saving9.0 / 1560th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 68th |
| Lower admin cost | 84th |
| Employee saving | 60th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,100 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Rockland Trust put in about $5,126 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 | $9,609,468 |
| Participant (employee) contributions | $14,966,316 |
| Other contributions (incl. rollovers in) | $3,493,928 |
| Administrative expenses paid from the plan | $171,483 |
| Benefits paid out | $36,612,240 |
| Net assets, start / end of year | $270.0M / $300.0M |
| Active participants, start / end of year | 1,859 / 1,890 |
| Participants with account balances | 2,326 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young LLP |
| Employer stock held by plan | $17,827,600 |
Largest service providers (Schedule C)
| Adp, Inc. | $171,722 reported compensation |
| Charles Schwab & Co, Inc. | $228 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250926050701NAL0009776400001, received 2025-09-26, EIN 04-1782600, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.