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Retirement plan

TRUIST FINANCIAL CORPORATION PENSION PLAN

TRUIST FINANCIAL CORPORATIONEIN 56-0939887Plan #001PY 2024
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214 N. TRYON STREET - CHARLOTTE, NC 28202800-716-2455
Other plans on this EIN
1 filing
#003Retirement-$9.23B assets
Prospect flagsHigh retiree %Wind-down / frozen

Filing contacts

From the Form 5500, federal record
Plan sponsor signer
(name not on filing)
(800) 716-2455
Plan administrator signer
STEVE REEDER
Signed 08/13/2025
Plan administrator entity
EMPLOYEE BENEFITS PLAN COMMITTEE, TRUIST FINANCIAL CORPORATION
EIN 560939887
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Summary metrics

Total assets (EOY)
$14698.7M
-12.2% from 2016
Total participants
92,130
-6.7% from 2016
Average account balance
$0
No prior year
Annual return
2.98%
-6.06 pp from 2016

Benchmarks

See 185 peers
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
2.98%
median 6.42%
Overall peer rank
28th 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 10 of 12 by compensation
ProviderService typeCompensation
AON CONSULTING10+ years
Service code 11 · EIN 22-2232264
Actuarial
$7,873,709
DODGE & COX FUNDS3 years
Service code 28
P.O. BOX 219502 · KANSAS, MO 641219502
Investment Management
$1,359,361
FRANKLIN TEMPLETON LLC3 years
Service code 28
47 WEST 200 SOUTH · SALT LAKE, UT 84101
Investment Management
$1,141,126
WESTFIELD CAPITAL MANAGEMENT CO.4 years
Service code 28
ONE FINANCIAL CENTER, 23RD FLOOR · BOSTON, MA 02111
Investment Management
$1,133,106
NISA INVESTMENT ADVISORS, LLC4 years
Service code 28
101 S HANLEY RD # 1700 · CLAYTON, MO 63105
Investment Management
$1,105,594
L&G EMERGING MARKET1 year
Service code 28
71 SOUTH WACKER DRIVE, SUITE 800 · CHICAGO, IL 60606
Investment Management
$924,218
SILVERCREST ASSET MANAGEMENT GROUP4 years
Service code 28
1330 AVENUE OF THE AMERICAS · NEW YORK, NY 10019
Investment Management
$815,064
NB REAL ESTATE SECONDARY OPP FD LP1 year
Service code 28
1290 AVENUE OF THE AMERICAS · NEW YORK, NY 10104
Investment Management
$148,539
BRANCH BANKING AND TRUST COMPANY10+ years
Service code 21 · EIN 56-1074313
Bank Trustee
$119,274
KILPATRICK TOWNSEND ATTORNEYS10+ years
Service code 29 · EIN 58-0511774
Legal
$87,100

Enrolled actuary

1 attachment
SB

ERIC E. MALACANE, EA, ASA

AON CONSULTING, INC.
Enrollment #2307105
AON
PO BOX 551343 MSC# 17848
ATLANTA, GA 30355
(336) 728-2233
Signed 2025-06-13

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

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
$24.6M
$743 / participant
  • Investment mgmt$7M28.2%
  • Actuarial$8M32.0%
  • Other / not subdivided$10M39.9%
% of EOY assets
0.168%
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
CARR, RIGGS AND INGRAM LLC
Auditor EIN
721396621
Audit fees
(not subdivided)
Opinion code
Unqualified