Plan Snapshot
- Plan Sponsor: U.S. Bancorp
- Sponsor EIN: 410255900
- Sponsor Address: 800 NICOLLET MALL BC-MN-4BEN, MINNEAPOLIS, MN, 55402
- Plan Type: DB
- Total Participants: 58,000
- Total Assets: $4.4B
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 58,000 | $4.4B | $0 | $0 |
| 2023 | 54,934 | $4.0B | $0 | $0 |
| 2022 | 51,786 | $3.7B | $0 | $0 |
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 SOLUTIONS LLC | NONE | $3,090,426 | $3,951 | $3,094,377 |
| MORGAN LEWIS BOCKIUS LLP | NONE | $780,080 | — | $780,080 |
| ERNST & YOUNG, LLP | NONE | $116,300 | — | $116,300 |
| TOWERS WATSON DELAWARE | NONE | $101,509 | — | $101,509 |
| U.S. BANK NATIONAL ASSOCIATION | TRUSTEE | $46,257 | — | $46,257 |
| BUCK GLOBAL LLC | NONE | $23,268 | — | $23,268 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ALIGHT SOLUTIONS LLC — NONE
- MORGAN LEWIS BOCKIUS LLP — NONE
- ERNST & YOUNG, LLP — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $4,161,791
- Estimated Expense Ratio: 0.095% 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 | $10,698,391 | $89,789 | $3,113,694 | $116,300 | — |
| 2023 | $9,595,252 | $748,257 | $2,728,613 | $78,000 | — |
| 2022 | $9,769,236 | $2,063,837 | $2,254,561 | — | $146,110 |