Employer · plans filed under one EIN
First-Citizens Bank & Trust Company
Raleigh, NC · 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.
5 retirement plans with 100 or more participants file Form 5500 under First-Citizens Bank & Trust Company's employer identification number (Raleigh, North Carolina). Their latest filings total 30,745 participant records and $4.70B in net assets.
The largest is First-Citizens Bank & Trust Company 401(k) Plan, a 401(k) plan with 20,246 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 $161M and participant contributions $161M in the latest plan years; benefits paid were $310M. Schedule C compensation reported to service provider organisations totalled $2.9M.
Combined net assets moved from $617M in 2009 to $4.70B in 2024 (up 661%). 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 |
|---|---|---|---|---|---|---|---|
| First-Citizens Bank & Trust Company 401(k) Plan | 401(k) plan | 2024 | 20,246 | $2.69B | $132,692 | $10,000 | $566K |
| First-Citizens Bank & Trust Company and Adopting Related Employers Pension Plan | defined benefit pension plan | 2024 | 4,492 | $1.09B | $242,779 | — | $1.3M |
| Cit Group, Inc. Retirement Plan | cash balance pension plan | 2024 | 3,432 | $314M | $91,365 | — | $796K |
| First Citizens Bank & Trust Company, Inc. Pension Plan | defined benefit pension plan | 2024 | 1,443 | $243M | $168,511 | — | $287K |
| First-Citizens Bank & Trust Company Legacy 401(k) Plan | 401(k) plan | 2024 | 1,132 | $363M | $320,917 | $4,841 | $11K |
| 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 | 5 | 30,745 | $4.70B | $161M | $161M |
| 2023 | 5 | 30,522 | $4.12B | $114M | $126M |
| 2022 | 5 | 19,961 | $3.29B | $40.3M | $47.0M |
| 2021 | 4 | 15,843 | $2.41B | $36.9M | $42.7M |
| 2020 | 4 | 15,691 | $2.15B | $134M | $39.7M |
| 2019 | 4 | 16,058 | $1.77B | $31.4M | $35.0M |
| 2018 | 4 | 15,448 | $1.48B | $31.3M | $32.2M |
| 2017 | 4 | 15,595 | $1.59B | $125M | $28.9M |
| 2016 | 4 | 15,000 | $1.30B | $72.9M | $25.8M |
| 2015 | 4 | 15,060 | $1.21B | $52.2M | $24.6M |
| 2014 | 3 | 11,271 | $943M | $16.0M | $18.1M |
| 2013 | 3 | 10,493 | $896M | $14.6M | $17.2M |
| 2012 | 3 | 10,729 | $780M | $13.7M | $16.6M |
| 2011 | 3 | 16,694 | $710M | $13.0M | $16.1M |
| 2010 | 3 | 16,745 | $707M | $22.3M | $15.0M |
| 2009 | 3 | 16,684 | $617M | $46.6M | $14.1M |
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 |
|---|---|---|---|
| BlackRock Advisors, LLC | Investment management; Securities brokerage | 3 | $1,153,990 |
| Fidelity Investments Institutional | Participant loan processing; Recordkeeping and information management; Consulting (pension) | 3 | $842,734 |
| Willis Towers Watson US LLC | Actuarial; Participant communication; Recordkeeping and information management; Consulting (pension) | 3 | $742,842 |
| Northern Trust Company | Trustee (bank, trust company, or similar financial institution) | 1 | $115,214 |
| Cherry Bekaert LLP | Accounting (including auditing) | 3 | $73,500 |
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 First-Citizens Bank & Trust Company have?
5 plans with 100 or more participants filed Form 5500 under its employer identification number for the latest plan years: First-Citizens Bank & Trust Company 401(k) Plan, First-Citizens Bank & Trust Company and Adopting Related Employers Pension Plan, Cit Group, Inc. Retirement Plan and First Citizens Bank & Trust Company, Inc. Pension Plan and others. Smaller plans and plans filed under a subsidiary's number are not grouped here.
How much does First-Citizens Bank & Trust Company contribute to its plans?
$161,104,476 in employer contributions across these plans in their latest plan years, about $8,873 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 BlackRock Advisors, LLC, Fidelity Investments Institutional, Willis Towers Watson US LLC and Northern Trust Company 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.