Retirement plan

U.S. BANK PENSION PLAN

U.S. BANCORPEIN 41-0255900Plan #001PY 2024
800 NICOLLET MALL BC-MN-4BEN - MINNEAPOLIS, MN 55402800-806-7009
Prospect flagsWind-down / frozen

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(800) 806-7009

Summary metrics

Total assets (EOY)
$4382.3M
-6.9% from 2016
Total participants
73,390
+4.3% from 2016
Average account balance
$0
No prior year
Annual return
13.39%
-9.36 pp from 2016

Benchmarks

Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort185 peers
Snapshot2024
Participant deferral / active EE
$0
median $11
Employer contribution / active EE
$0
median $6,224
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
13.39%
median 6.42%
Overall peer rank
89th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$4.38B
Average account balance
Total assets / participants with a balance (line 6g)
$60K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
15,390
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Contributions (total)
Employer and participant dollars contributed each year
$950.00M
Contributions per participant
Average employer and participant contribution per enrolled participant
$17K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+13.39%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 6 by compensation
ProviderService typeCompensation
Service code 15 · EIN 82-1061233
Recordkeeping
$3,094,377
Service code 29 · EIN 23-0891050
Legal
$780,080
Service code 10 · EIN 34-6565596
Accounting
$116,300
Service code 27 · EIN 52-1868818
Advisory (Plan)
$101,509
Service code 25 · EIN 41-6271370
Directed Trustee
$46,257
Service code 15 · EIN 83-1116912
Recordkeeping
$23,268

Enrolled actuary

1 attachment
SB

KURTT RICHMAN

WILLIS TOWERS WATSON US LLC
Enrollment #2305123
8400 NORMANDALE LAKE BOULEVARD
SUITE 1700
MINNEAPOLIS, MN 554373837
(952) 842-7000
Signed 2025-09-02

Top hat statement on fileNQDC

Filed April 24, 2026 (most recent of 6 filings on file)

Plans declared (1)

  • U.S. Bank Executive Change in Control Severance Plan16 emp

Plan features & details

Pension benefit codes1A1C3H
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
  • 1C
    Cash balance or similar plan
    A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped
  • InformationalWind-down / frozen

    Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II
Admin total
$10.7M
$184 / participant
  • Investment mgmt$90K0.8%
  • Legal$781K7.3%
  • Other trustee fees$46K0.4%
  • Contract admin$3M29.1%
  • Other / not subdivided$7M62.3%
% of EOY assets
0.244%
all-in expense ratio
Categories reported
4 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
ERNST AND YOUNG LLP
Auditor EIN
346565596
Audit fees
$116,300
Opinion code
Unqualified