PlanOptica
Retirement plan

U.S. BANK LEGACY PENSION PLAN

U.S. BANCORPEIN 41-0255900Plan #007PY 2023
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800 NICOLLET MALL BC-MN-4BEN - MINNEAPOLIS, MN 55402312-325-8799
Other plans on this EIN
3 filings
#004Retirement-$10.27B assets#001Retirement-$3.97B assets#040Retirement--
Prospect flagsHigh retiree %Wind-down / frozen

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(312) 325-8799
How to read this page

Summary metrics

Total assets (EOY)
$2991.5M
-5.4% from 2021
Total participants
40,693
+0.9% from 2021
Average account balance
$0
No prior year
Annual return
8.21%
-10.63 pp from 2021

Benchmarks

See 104 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined benefit
Participants1,000-4,999
Cohort104 peers
Snapshot2023
Participant deferral / active EE
$0
median $0
Employer contribution / active EE
$0
median $6,068
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $13,363
Admin fee / account holder
$0
median $125
Annual return
8.21%
median 9.54%
Overall peer rank
38th percentileavg across 6 metrics

Analytics

2020 - 2024
Total assets (EOY)
Plan-year ending balance
$3.48B
Average account balance
Total assets / participants with a balance (line 6g)
$77K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
43,398
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
$50.00M
Not enough data
1 years with contributions on file
Contributions per participant
Average employer and participant contribution per enrolled participant
$54K
Not enough data
1 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+23.30%
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
ALIGHT SOLUTIONS LLC4+ years
Service code 15 · EIN 82-1061233
Recordkeeping
$2,208,351
TOWERS WATSON DELAWARE4+ years
Service code 27 · EIN 52-1868818
Advisory (Plan)
$472,635
ERNST & YOUNG, LLP3 years
Service code 10 · EIN 34-6565596
Accounting
$91,000
MORGAN LEWIS BOCKIUS LLP4+ years
Service code 29 · EIN 23-0891050
Legal
$63,795
WILLIS TOWERS WATSON US LLC4+ years
Service code 50 · EIN 53-0181291
Direct Payment
$48,117
U.S. BANK NATIONAL ASSOCIATION4+ years
Service code 25 · EIN 41-6271370
Directed Trustee
$164

Enrolled actuary

1 attachment
SB

KURTT A RICHMAN

WILLIS TOWERS WATSON US LLC
Enrollment #2305123
8400 NORMANDALE LAKE BOULEVARD
SUITE 1700
MINNEAPOLIS, MN 554373837
(952) 842-7000
Signed 2024-09-26

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
Email— Sign in and upgrade to viewPhone— Sign in and upgrade to view

Plans declared (1)

  • U.S. Bank Executive Change in Control Severance Plan16 emp
Open the filing PDF

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

2 tripped
  • InformationalHigh retiree %

    Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

  • 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
$7.2M
$4083 / participant
  • Investment mgmt$521K7.3%
  • Legal$64K0.9%
  • Other trustee fees$1640.0%
  • Contract admin$2M30.8%
  • Other / not subdivided$4M61.0%
% of EOY assets
0.239%
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 & YOUNG LLP
Auditor EIN
346565596
Audit fees
$91,000
Opinion code
Unqualified