Employer · plans filed under one EIN
Citizens Financial Group, Inc.
Johnston, RI · Finance and insurance
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances.
Citizens Financial Group, Inc., based in Johnston, Rhode Island, sponsors 3 retirement plans with 100 or more participants: 1 defined contribution and 2 defined benefit. Together they reported 37,996 participant records and $4.56B in net assets.
The largest is CFG Retirement Savings Plan, a 401(k) plan with 25,795 participants. A person can be counted in more than one plan, so the participant total is a count of records rather than of people.
Employer contributions across the plans were $85.3M and participant contributions $132M in the latest plan years; benefits paid were $421M. Schedule C compensation reported to service provider organisations totalled $6.0M.
Combined net assets moved from $2.16B in 2009 to $4.56B in 2024 (up 111%). Plan mergers and spin-offs show up here as steps in the series.
Plans
| Plan | Kind | Plan year | Participants | Net assets | Per participant | Employer / active | Sch. C compensation |
|---|---|---|---|---|---|---|---|
| CFG Retirement Savings Plan | 401(k) plan | 2024 | 25,795 | $3.25B | $125,984 | $4,818 | $2.7M |
| CFG Pension Plan | defined benefit pension plan | 2024 | 11,051 | $1.16B | $104,977 | — | $2.8M |
| Investors Bank Pension Plan | defined benefit pension plan | 2024 | 1,150 | $146M | $127,310 | — | $484K |
| US median, plan year 2024: DC plans $53,102 per participant, $2,175 employer contribution per active participant; DB plans $86,221 and $10,244. | |||||||
Trend by plan year
| Plan year | Plans | Participant records | Net assets | Employer contributions | Participant contributions |
|---|---|---|---|---|---|
| 2024 | 3 | 37,996 | $4.56B | $85.3M | $132M |
| 2023 | 3 | 39,317 | $4.21B | $82.3M | $133M |
| 2022 | 3 | 40,141 | $3.70B | $79.2M | $127M |
| 2021 | 2 | 37,043 | $4.21B | $62.3M | $113M |
| 2020 | 2 | 37,211 | $3.86B | $78.2M | $109M |
| 2019 | 2 | 37,773 | $3.42B | $72.5M | $101M |
| 2018 | 2 | 37,202 | $2.83B | $66.9M | $91.3M |
| 2017 | 2 | 37,583 | $3.00B | $112M | $84.8M |
| 2016 | 2 | 38,159 | $2.55B | $57.1M | $80.5M |
| 2015 | 2 | 43,529 | $2.41B | $130M | $77.4M |
| 2014 | 2 | 45,561 | $2.46B | $170M | $95.4M |
| 2013 | 2 | 51,145 | $3.05B | $85.2M | $102M |
| 2012 | 2 | 52,728 | $2.67B | $89.1M | $102M |
| 2011 | 2 | 60,359 | $2.57B | $293M | $101M |
| 2010 | 2 | 62,537 | $2.39B | $85.0M | $96.6M |
| 2009 | 2 | 63,716 | $2.16B | $71.4M | $88.7M |
History of the plans listed above, in the years each filed the full Form 5500 with 100 or more participants. Plans that have since terminated are not included.
Service providers
| Organisation | Services reported | Plans | Compensation reported |
|---|---|---|---|
| Empower Advisory Group, LLC | Investment management; Investment advisory (participants) | 1 | $1,508,239 |
| Willis Towers Watson US LLC | Actuarial; Consulting (pension) | 3 | $1,349,345 |
| Empower Annuity Insurance Company | Recordkeeping and information management; Participant loan processing | 1 | $946,728 |
| Pacific Investment MGMT Co. | Investment management | 1 | $508,911 |
| Prudential Trust Co. | Investment management | 1 | $390,732 |
| Jennison | Investment management | 2 | $305,370 |
| Mercer Investment Consulting Inc. | Investment advisory (plan) | 2 | $273,222 |
| Bank of New York Mellon | Custodial (other than securities); Custodial (securities); Trustee (bank, trust company, or similar financial institution); Trustee (directed) | 2 | $226,578 |
| Deloitte & Touche LLP | Accounting (including auditing); Consulting (general) | 2 | $199,145 |
| BlackRock Institutional Trust Co. | Investment management; Trustee (bank, trust company, or similar financial institution); Trustee (discretionary) | 2 | $158,713 |
| Mercer Investments, LLC | Investment advisory (plan) | 1 | $83,340 |
| Empower Financial Services, Inc. | Securities brokerage | 1 | $5,260 |
| Qdro Consultants Company, LLC | Consulting (general) | 1 | $4,200 |
Organisations paid $5,000 or more by any of these plans, from Schedule C. Individuals are not shown.
Questions and answers
How many retirement plans does Citizens Financial Group, Inc. have?
3 plans with 100 or more participants filed Form 5500 under its employer identification number for the latest plan years: CFG Retirement Savings Plan, CFG Pension Plan and Investors Bank Pension Plan. Smaller plans and plans filed under a subsidiary's number are not grouped here.
How much does Citizens Financial Group, Inc. contribute to its plans?
$85,289,218 in employer contributions across these plans in their latest plan years, about $4,124 per active participant record. Form 5500 reports totals and not the match or accrual formula.
Who provides services to these plans?
Schedule C filings name Empower Advisory Group, LLC, Willis Towers Watson US LLC, Empower Annuity Insurance Company and Pacific Investment MGMT Co. and others. Only organisations paid $5,000 or more by a plan are listed on Schedule C.
Where does this come from?
Form 5500 annual reports filed with the Department of Labor's EFAST2 system, from the EBSA research files, with filings received through 24 Aug 2026. Figures are as filed and may be amended.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files, public domain, with filings received through 24 Aug 2026. Plans are grouped by the sponsor's employer identification number exactly as filed; a company that files under several EINs appears as several employers. See the methodology and corrections.