Plan Snapshot
- Plan Sponsor: Truist Financial Corporation
- Sponsor EIN: 560939887
- Sponsor Address: 214 N. TRYON STREET, CHARLOTTE, NC, 28202
- Plan Type: 401(k)
- Total Participants: 38,574
- Total Assets: $9.2B
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 38,574 | $9.2B | $197.3M | $350.5M |
| 2023 | 52,699 | $10.1B | $260.6M | $412.5M |
| 2022 | 55,480 | $9.0B | $255.5M | $387.8M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| STRATEGIC ADVISORS, INC. | ADVISOR | $2,248,624 | — | $2,248,624 |
| LEGAL & GENERAL INVESTMENT MGMT AM | INVESTMENT ADVISOR | $260,069 | — | $260,069 |
| MERCER, LLC | FIDUCIARY | $90,000 | — | $90,000 |
| CARR, RIGGS AND INGRAM LLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- STRATEGIC ADVISORS, INC. — ADVISOR
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,598,693
- Estimated Expense Ratio: 0.028% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $2,465,644 | $2,248,624 | $25,200 | — | — |
| 2023 | $1,963,598 | $2,076,496 | $25,800 | — | — |
| 2022 | $2,236,533 | $1,880,929 | — | — | — |