# U.S. Bancorp 401(k) Plan
Source: https://planprovider.pro/companies/u-s-bancorp-401k-plan

> U.S. Bancorp's 401(k) plan: 67,658 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** U.S. Bancorp

- **Sponsor EIN:** 410255900

- **Sponsor Address:** 800 NICOLLET MALL BC-MN-4BEN, MINNEAPOLIS, MN, 55402

- **Plan Type:** 401(k)

- **Total Participants:** 67,658

- **Total Assets:** $11.4B

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **Participant Loans:** No

- **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|67,658|$11.4B|$254.6M|$576.9M|

| 2023|72,919|$10.3B|$252.6M|$589.9M|

| 2022|68,145|$8.3B|$214.1M|$506.4M|

## 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|

| ALIGHT FINANCIAL ADVISORS, LLC|NONE|$5,940,103|—|$5,940,103|

| ALIGHT SOLUTIONS LLC|NONE|$2,358,875|—|$2,358,875|

| GALLIARD CAPITAL MANAGEMENT, LLC|NONE|$527,749|—|$527,749|

| PRUDENTIAL LIFE INSURANCE CO|NONE|$202,003|—|$202,003|

| AMERICAN GENERAL LIFE INSURANCE CO|NONE|$194,627|—|$194,627|

| METROPOLITAN TOWER LIFE INS. CO.|NONE|$186,300|—|$186,300|

| VOYA RETIREMENT INS AND ANNUITY CO|NONE|$180,034|—|$180,034|

| ALIGHT FINANCIAL SOLUTIONS, LLC|NONE|$26,778|$143,191|$169,969|

| MORGAN LEWIS BOCKIUS LLP|NONE|$168,376|—|$168,376|

| PERSHING LLC|NONE|—|$120,806|$120,806|

| U.S. BANK NATIONAL ASSOCIATION|TRUSTEE|$62,170|—|$62,170|

| ERNST & YOUNG|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [ALIGHT FINANCIAL ADVISORS, LLC](https://planprovider.pro/provider/alight-solutions) — NONE

- [ALIGHT SOLUTIONS LLC](https://planprovider.pro/provider/alight-solutions) — NONE

- [PRUDENTIAL LIFE INSURANCE CO](https://planprovider.pro/provider/empower) — NONE

- [VOYA RETIREMENT INS AND ANNUITY CO](https://planprovider.pro/provider/voya-financial) — NONE

- [ALIGHT FINANCIAL SOLUTIONS, LLC](https://planprovider.pro/provider/alight-solutions) — NONE

- [MORGAN LEWIS BOCKIUS LLP](https://planprovider.pro/provider/meyer-unkovic-and-scott-llp) — NONE

- [PERSHING LLC](https://planprovider.pro/provider/northwestern-mutual) — NONE

- [ERNST & YOUNG](https://planprovider.pro/provider/ernst-and-young-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $10,111,012

- **Estimated Expense Ratio:** 0.088% 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|$9,820,237|$7,230,816|—|—|—|

| 2023|$8,621,833|$5,292,782|—|—|—|

| 2022|$7,921,295|$4,763,422|$2,553,698|—|-$30,062|

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