Retirement plan
U.S. BANK 401(K) SAVINGS PLAN
U.S. BANCORPEIN 41-0255900Plan #004PY 2021
4000 WEST BROADWAY AVENUE - ROBBINSDALE, MN 55422763-971-1128
Other plans on this EIN
2 filingsProspect flagsCorrective distributions
Filing contacts
From the Form 5500, federal recordSummary metrics
Total assets (EOY)
$9870.8M
-10.8% from 2016
Total participants
88,177
-3.3% from 2016
Average account balance
$114,517
-8.5% from 2016
Annual return
16.11%
-12.19 pp from 2016
Benchmarks
Peer group
Industry52 - Finance and Insurance
Plan typeDefined contribution
Participants>=10,000
Cohort82 peers
Snapshot2021
37
Participant deferral / active EE
$6,800
median $7,246
36
Employer contribution / active EE
$2,931
median $3,789
60
Participation rate
97.1%
median 96.2%
37
Avg account balance
$114,517
median $146,142
25
Admin fee / account holder
$95
median $64
54
Annual return
16.11%
median 15.69%
Overall peer rank
42of 100
42nd percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$11.44B
Average account balance
Total assets / participants with a balance (line 6g)
$130K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
87,776
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
96.5%
Contributions (total)
Employer and participant dollars contributed each year
$831.49M
Contributions per participant
Average employer and participant contribution per enrolled participant
$12K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+14.28%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$112
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 10 of 14 by compensation
| Provider | Service type | Compensation |
|---|---|---|
Service code 26 · EIN 82-1061233 | Advisory (Participants) | $3,573,069 |
ALIGHT SOLUTIONS LLC5 years Service code 15 · EIN 82-1061233 | Recordkeeping | $3,154,480 |
Service code 26 · EIN 41-1813702 | Advisory (Participants) | $665,374 |
PRUDENTIAL LIFE INSURANCE CO7+ years Service code 50 · EIN 22-1211670 | Direct Payment | $218,411 |
Service code 50 · EIN 25-0598210 | Direct Payment | $208,480 |
Service code 50 · EIN 41-0991508 | Direct Payment | $205,217 |
PERSHING LLC5 years Service code 59 · EIN 13-2741729 | Shareholder Servicing | $135,618 |
Service code 33 · EIN 82-1061233 | Securities brokerage; Distribution (1... | $131,114 |
ERNST AND YOUNG, LLP4 years Service code 10 · EIN 34-6565596 | Accounting | $95,000 |
U.S. BANK NATIONAL ASSOCIATION7+ years Service code 21 · EIN 41-6271370 | Bank Trustee | $51,372 |
Top hat statement on fileNQDC
Filed April 24, 2026 (most recent of 6 filings on file)
Plan administrator
Plan administrator name— Sign in and upgrade to view
800 Nicollet Mall BC-MN-4BEN
Minneapolis, MN 55402
Plans declared (1)
- U.S. Bank Executive Change in Control Severance Plan16 emp
Plan features & details
Pension benefit codes2E2F2J2K2O2S2T3H
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2JCode section 401(k) featureCash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
- 2KCode section 401(m) arrangementEmployee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
- 2OESOP other than a leveraged ESOPEmployee stock ownership plan that is not leveraged.
- 2SAutomatic enrollmentPlan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Opportunity flags
1 tripped
- ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
Expense breakdown
Schedule H Part II
Admin total
$8.2M
$121 / participant
- Investment mgmt$4M51.7%
- Contract admin$3M38.5%
- Other / not subdivided$805K9.8%
% of EOY assets
0.083%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used
Audit opinion
Schedule H Part III
Unqualified opinion
Auditor signed off without reservation - the cleanest possible opinion.
- Auditor firm
- ERNST & YOUNG
- Auditor EIN
- 346565596
- Audit fees
- (not subdivided)
- Opinion code
- Unqualified