PlanOptica
Retirement plan

SUNTRUST BANKS, INC. RETIREMENT PLAN

TRUIST FINANCIAL CORPORATIONEIN 56-0939887Plan #002PY 2019
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214 N. TRYON STREET - CHARLOTTE, NC 28202800-716-2455
Other plans on this EIN
3 filings
#001Retirement-$8.25B assets#003Retirement-$5.25B 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
How to read this page

Summary metrics

Total assets (EOY)
$4143.7M
No prior year
Total participants
36,443
No prior year
Average account balance
$0
No prior year
Annual return
20.54%
+117.64 pp from 2020

Benchmarks

See 32 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined benefit
Participants5,000-9,999
Cohort32 peers
Snapshot2019
Participant deferral / active EE
$0
median $23
Employer contribution / active EE
$103,128
median $12,255
Participation rate
0.0%
median 0.0%
Avg account balance
$0
Admin fee / account holder
$0
Annual return
20.54%
median 17.93%
Overall peer rank
65th percentileavg across 6 metrics

Analytics

Less than 3 years of history available for this plan
We'll show a chart here once at least 3 consecutive filings are on record.

Service providers

Top 9 by compensation
ProviderService typeCompensation
PRUDENTIAL INVESTMENT MANAGEMENT1+ years
Service code 28 · EIN 22-2540245
Investment Management
$2,551,088
BLACKROCK INSTITUTIONAL TRUST CO NA1+ years
Service code 28 · EIN 94-3112180
Investment Management
$2,313,284
CONDUENT1+ years
Service code 13 · EIN 81-2983623
Contract Administrator
$1,290,115
AON CONSULTING1+ years
Service code 11 · EIN 22-2232264
Actuarial
$525,171
CARR, RIGGS & INGRAM LLC1+ years
Service code 10 · EIN 72-1396621
Accounting
$52,753
SUNTRUST BANKS, INC.1+ years
Service code 30 · EIN 58-1575305
Employee (plan); Direct payment from ...
$25,625
WILLIS TOWERS WATSON1+ years
Service code 16 · EIN 53-0181291
Consulting
$9,506
LEXIS NEXIS1+ years
Service code 29
112-118 WEST 20TH STREET · NEW YORK, NY 10011
Legal
$8,464
GROOM LAW GROUP1+ years
Service code 16 · EIN 52-1219029
Consulting
$6,718

Enrolled actuary

1 attachment
SB

JOY L. FERGUSON, ASA, EA

AON CONSULTING, INC.
Enrollment #2006805
3550 LENOX ROAD, SUITE 1700
ATLANTA, GA 30326
(404) 261-3400
Signed 2020-10-13

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 codes1A1C1I3F3H
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).
  • 1I
    Frozen plan
    As of the last day of the plan year the plan provides that no participant will get any new benefit accrual whether because of service or compensation.
  • 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
$9.8M
$1230 / participant
  • Investment mgmt$5M50.0%
  • Contract admin$1M13.2%
  • Other / not subdivided$4M36.8%
% of EOY assets
0.236%
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 & INGRAM, LLC
Auditor EIN
721396621
Audit fees
(not subdivided)
Opinion code
Unqualified