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Retirement plan

TRUIST FINANCIAL CORPORATION PENSION PLAN

TRUIST FINANCIAL CORPORATIONEIN 56-0939887Plan #001PY 2019
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214 N. TRYON STREET - CHARLOTTE, NC 28202800-716-2455
Other plans on this EIN
3 filings
#003Retirement-$5.25B assets#002Retirement-$4.14B assets#005Retirement-$3.76B assets
Prospect flagsHigh retiree %

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(800) 716-2455
Plan administrator signer
STEVE REEDER
Signed 10/15/2020
Plan administrator entity
EMPLOYEE BENEFITS PLAN COMMITTEE, TRUIST FINANCIAL CORPORATION
EIN 560939887
How to read this page

Summary metrics

Total assets (EOY)
$8252.7M
-12.2% from 2016
Total participants
58,083
-6.7% from 2016
Average account balance
$0
No prior year
Annual return
25.28%
-6.06 pp from 2016

Benchmarks

See 39 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined benefit
Participants>=10,000
Cohort39 peers
Snapshot2019
Participant deferral / active EE
$0
median $0
Employer contribution / active EE
$33,793
median $2,966
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $894,319,009
Admin fee / account holder
$0
median $2,968,729
Annual return
25.28%
median 19.23%
Overall peer rank
78th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$14.70B
Average account balance
Total assets / participants with a balance (line 6g)
$160K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
58,963
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
$1.30B
Contributions per participant
Average employer and participant contribution per enrolled participant
$34K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+2.98%
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 8 by compensation
ProviderService typeCompensation
AON CONSULTING5+ years
Service code 11 · EIN 22-2232264
Actuarial
$1,868,614
WESTFIELD CAPITAL MANAGEMENT2 years
Service code 28 · EIN 80-0175963
Investment Management
$1,294,872
SILVERCREST ASSET MANAGEMENT1 year
Service code 28 · EIN 45-5146560
Investment Management
$606,778
CORTINA ASSET MANAGEMENT2 years
Service code 28 · EIN 56-2450074
Investment Management
$555,901
BRANCH BANKING AND TRUST COMPANY5+ years
Service code 21 · EIN 56-1074313
Bank Trustee
$553,282
LEGAL & GENERAL INVESTMENT MANAGEME3 years
Service code 28
71 SOUTH WACKER DRIVE · CHICAGO, IL 60606
Investment Management
$319,002
PATHWAY CAPITAL MANAGEMENT2 years
Service code 28 · EIN 95-4299348
Investment Management
$67,500
KILPATRICK TOWNSEND ATTORNEYS5+ years
Service code 29 · EIN 58-0511774
Legal
$64,594

Enrolled actuary

1 attachment
SB

ERIC E. MALACANE, EA, ASA

AON CONSULTING, INC.
Enrollment #2007105
100 NORTH MAIN STREET
SUITE 2200
WINSTON - SALEM, NC 27101
(336) 728-2233
Signed 2020-07-27

Top hat statement on fileNQDC

Filed October 18, 2004

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

Open the filing PDF

Plan features & details

Pension benefit codes1A3F3H
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).
  • 3F
    Leased employees
    Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
  • 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
  • InformationalHigh retiree %

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

Expense breakdown

Schedule H Part II
Admin total
$9.9M
$382 / participant
  • Investment mgmt$3M28.7%
  • Other / not subdivided$7M71.3%
% of EOY assets
0.120%
all-in expense ratio
Categories reported
1 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
CROWE LLP
Auditor EIN
350921680
Audit fees
(not subdivided)
Opinion code
Unqualified