PlanOptica
Retirement plan

SUNTRUST BANKS, INC. 401(K) PLAN

TRUIST FINANCIAL CORPORATIONEIN 56-0939887Plan #005PY 2020
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214 N. TRYON STREET - CHARLOTTE, NC 28202800-716-2455
Other plans on this EIN
3 filings
#001Retirement-$14.67B assets#003Retirement-$9.74B assets#002Retirement--
Prospect flagsRecently cancelled planLow returnsWind-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 05/14/2021
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Summary metrics

Total assets (EOY)
$0
No prior year
Total participants
0
No prior year
Average account balance
$0
No prior year
Annual return
-99.40%
+123.96 pp from 2020

Benchmarks

See 32,146 peers
Peer group
Industry52 - Finance and Insurance
Plan typeDefined contribution
Participants<25
Cohort32,146 peers
Snapshot2020
Participant deferral / active EE
$0
median $7,168
Employer contribution / active EE
$0
median $3,310
Participation rate
0.0%
median 100.0%
Avg account balance
$0
median $103,419
Admin fee / account holder
$0
median $495
Annual return
-99.40%
median 14.62%
Overall peer rank
1st 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 1 by compensation
ProviderService typeCompensation
FINANCIAL ENGINES2+ years
Service code 26 · EIN 47-5324976
Advisory (Participants)
$2,536,700

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 codes2E2F2G2J2K2O2S2T3F3H
Plan features
  • 2E
    Profit-sharing
    Profit-sharing plan.
  • 2F
    ERISA section 404(c) plan
    This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
  • 2G
    Total participant-directed account plan
    Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • 2J
    Code section 401(k) feature
    Cash 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.
  • 2K
    Code section 401(m) arrangement
    Employee 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.
  • 2O
    ESOP other than a leveraged ESOP
    Employee stock ownership plan that is not leveraged.
  • 2S
    Automatic enrollment
    Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
  • 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

3 tripped
  • OpportunityLow returns

    Annual investment return is in the bottom quintile of the peer cohort.

  • 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.

  • InformationalRecently cancelled plan

    Plan reported a final filing / termination within the last year.

Expense breakdown

Schedule H Part II
Admin total
$2.5M
  • Investment mgmt$3M100.0%
% of EOY assets
-
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
CARR, RIGGS & INGRAM, LLC
Auditor EIN
721396621
Audit fees
(not subdivided)
Opinion code
Unqualified