Plan Snapshot
- Plan Sponsor: Truist Financial Corporation
- Sponsor EIN: 560939887
- Sponsor Address: 214 N. TRYON STREET, CHARLOTTE, NC, 28202
- Plan Type: 401(k)
- Plan Number: 003
- Total Participants: 58,823
- Total Assets: $10.2B
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. |
|---|---|---|---|---|
| 2025 | 58,823 | $10.2B | $0 | $0 |
| 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. | Investment Advisor | $2,321,431 | — | $2,321,431 |
| FIDELITY INVESTMENTS INSTITUTIONAL | Recordkeeper | $545,518 | — | $545,518 |
| MERCER, LLC | Other Service Provider | $90,000 | — | $90,000 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,956,949
- Estimated Expense Ratio: 0.029% 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 |
|---|---|---|---|---|---|
| 2025 | $958,756,945 | $2,430,686 | $12,000 | — | — |
| 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 | — | — | — |