Industries › Management of companies (holding companies)
Industry · Form 5500 business code 551111
Offices of Bank Holding Companies: retirement plans
Plans whose sponsor entered this principal business activity code on Form 5500.
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. The business code is chosen by the filer from the list in the Form 5500 instructions.
128 retirement plans in offices of bank holding companies with 100 or more participants filed Form 5500 for plan year 2024 (117 defined contribution, 11 defined benefit). All Form 5500 pension filers in the group reported 1,066,034 participant records and $177.9B in net assets.
The median defined contribution plan held $97,119 per participant, well above the national median of $53,031, and its employer put in $3,644 per active participant (national: $2,174). Among plans reporting Schedule C compensation the median was $141 per participant against $123 nationally.
Employers contributed $2.93B and participants $4.29B during the year, and the plans paid out $15.3B in benefits.
In 2009 the same group numbered 163 plans with $59.3B; by 2024 it was 128 plans (down 21%) and $177.9B (up 200%). From plan year 2023 the 100-participant line counts participants with account balances, which moved many plans to the short form.
Medians compared with all US plans
| Median plan, plan year 2024 | Industry: DC | US: DC | Industry: DB | US: DB |
|---|---|---|---|---|
| Net assets per participant | $97,119 | $53,031 | $94,292 | $86,234 |
| Employer contributions per active participant | $3,644 | $2,174 | $32,572 | $10,244 |
| Schedule C compensation per participant | $141 | $123 | $236 | $344 |
| Schedule C compensation, share of net assets | 0.13% | 0.26% | 0.26% | 0.42% |
| Administrative expenses per participant | $140 | $116 | $308 | $527 |
Medians across plans with 100 or more participants (111 DC and 11 DB plans with a Schedule H here). Fee medians cover plans reporting an amount. DC: defined contribution, such as 401(k) and 403(b). DB: defined benefit pension.
Distribution of DC plans
| Measure | 25th percentile | Median | 75th percentile | Plans |
|---|---|---|---|---|
| Net assets per participant | $59,937 | $97,119 | $140,905 | 111 |
| Employer contributions per active participant | $2,140 | $3,644 | $4,877 | 103 |
| Schedule C compensation per participant | $46.55 | $141 | $271 | 94 |
| Administrative expenses per participant | $44.00 | $140 | $243 | 101 |
Trend by plan year
| Plan year | Plans 100+ | Participants | Net assets | Employer contributions | Participant contributions | Median DC assets / participant | Median DC Sch. C / participant |
|---|---|---|---|---|---|---|---|
| 2025partial | 32 | 271,903 | $74.5B | $1.35B | $1.78B | $135,411 | $193 |
| 2024 | 128 | 1,066,034 | $177.9B | $2.93B | $4.29B | $97,119 | $141 |
| 2023 | 126 | 1,124,103 | $160.8B | $2.76B | $4.23B | $91,146 | $121 |
| 2022 | 134 | 1,193,740 | $142.8B | $2.80B | $4.08B | $83,304 | $123 |
| 2021 | 140 | 1,224,208 | $177.0B | $2.74B | $4.06B | $95,683 | $121 |
| 2020 | 142 | 1,269,033 | $157.9B | $3.36B | $3.93B | $82,699 | $129 |
| 2019 | 139 | 1,305,207 | $146.9B | $2.83B | $3.67B | $78,386 | $109 |
| 2018 | 144 | 1,343,327 | $124.0B | $2.76B | $3.52B | $65,537 | $87.92 |
| 2017 | 155 | 1,381,645 | $135.1B | $2.93B | $3.36B | $69,425 | $90.76 |
| 2016 | 154 | 1,416,312 | $117.9B | $2.63B | $3.21B | $57,980 | $72.45 |
| 2015 | 155 | 1,464,579 | $110.2B | $3.98B | $3.20B | $51,780 | $73.15 |
| 2014 | 157 | 1,465,910 | $111.1B | $2.55B | $2.97B | $50,706 | $61.45 |
| 2013 | 149 | 1,536,867 | $95.9B | $2.40B | $2.52B | $50,362 | $49.41 |
| 2012 | 148 | 1,526,668 | $76.6B | $2.09B | $2.37B | $41,252 | $58.67 |
| 2011 | 152 | 1,500,333 | $65.1B | $2.14B | $2.49B | $35,157 | $67.25 |
| 2010 | 160 | 1,493,077 | $66.1B | $1.94B | $2.39B | $32,076 | $51.47 |
| 2009 | 163 | 1,342,431 | $59.3B | $1.42B | $1.88B | $28,813 | $44.12 |
Plan year is the year in which the plan year began. The drop in large plans from 2023 follows a rule change: the 100-participant line now counts participants with account balances, so many plans moved to the short form.
Provider share
Service provider organisations named most often on the Schedule C of the 127 plans on this page's list, by number of plans. A plan usually names several providers.
Largest plans
The 40 largest by participants of 127 plans with a page on this site.
| Plan | Sponsor | State | Type | Participants | Net assets | Per participant | Employer / active | Sch. C / participant |
|---|---|---|---|---|---|---|---|---|
| Wells Fargo & Company 401(k) Plan | Wells Fargo & Company | MN | DC | 255,580 | $57.9B | $226,493 | $6,154 | $41.08 |
| The Bank of America 401(k) Plan | Bank of America Corporation | NC | DC | 246,394 | $71.5B | $290,173 | $7,748 | — |
| The Bank of America Pension Plan | Bank of America Corporation | RI | DB | 168,197 | $17.6B | $104,622 | — | $289 |
| Wells Fargo & Company Cash Balance Plan | Wells Fargo & Company | MN | DB | 165,927 | $8.25B | $49,704 | — | $140 |
| TD 401(k) Retirement Plan | TD Bank US Holding Company | ME | DC | 49,123 | $5.97B | $121,555 | $6,186 | $27.78 |
| State Street Salary Savings Program | State Street Corporation | MA | DC | 21,533 | $6.53B | $303,331 | $8,239 | $132 |
| Deutsche Bank Matched Savings Plan | Deutsche Bank Americas Holding Corp. | NY | DC | 17,607 | $4.48B | $254,558 | $9,158 | $102 |
| Deutsche Bank Cash Account Pension Plan | Deutsche Bank Americas Holding Corporation | NY | DB | 11,994 | $1.11B | $92,419 | $32,572 | $249 |
| State Street Retirement Plan | State Street Corporation | MA | DB | 9,134 | $861M | $94,230 | — | $236 |
| The Bank of America Transferred Savings Account Plan | Bank of America Corporation | RI | DC | 8,515 | $1.12B | $131,612 | — | — |
| TD Banknorth Inc. Pension Plan | TD Bank US Holding Company | ME | DB | 8,275 | $413M | $49,934 | — | $129 |
| Synovus 401(k) Savings Plan | Synovus Financial Corp. | GA | DC | 6,703 | $856M | $127,668 | $4,672 | $45.90 |
| Associated Banc-Corp 401(k) and Employee Stock Ownership Plan | Associated Banc-Corp | WI | DC | 6,115 | $964M | $157,635 | $4,295 | $48.48 |
| Hilltop Holdings Inc. 401(k) Plan | Hilltop Holdings Inc. | TX | DC | 5,403 | $810M | $149,857 | $3,685 | $77.34 |
| The Old National Bancorp Employee Stock Ownership and Savings Plan | Old National Bancorp | IN | DC | 5,293 | $733M | $138,505 | $4,892 | $41.69 |
| Woodforest Financial Group Employee Stock Ownership Plan | Woodforest Financial Group, Inc. | TX | DC | 4,982 | $525M | $105,366 | $1,127 | $85.48 |
| Firstbank Holding Company Savings and ESOP | Firstbank Holding Company | CO | DC | 4,377 | $651M | $148,795 | $5,832 | $45.47 |
| Central Bancompany Tax Reduction Thrift 401(k) Plan | Central Bancompany | MO | DC | 4,259 | $401M | $94,077 | $4,195 | $86.56 |
| Midland Retirement Plan | Midfirst Bank | OK | DC | 4,039 | $486M | $120,234 | $3,862 | $124 |
| Bremer Retirement Plan | Bremer Financial Corporation | MN | DB | 3,569 | $337M | $94,292 | — | $209 |
| Cenlar Capital Corporation 401(k) Savings Plan | Cenlar Capital Corporation | NJ | DC | 2,758 | $168M | $60,828 | $2,256 | $17.81 |
| State Bankshares 401(k) Profit Sharing Plan | State Bankshares, Inc. | ND | DC | 2,262 | $319M | $141,208 | $2,643 | $14.56 |
| International Bancshares Corporation Employees Profit Sharing Plan and Trust | International Bancshares Corporation | TX | DC | 2,024 | $108M | $53,324 | $2,538 | — |
| National Bank Holdings Corporation 401(k) Plan | National Bank Holdings Corp. | MO | DC | 1,594 | $76.7M | $48,116 | $1,402 | $130 |
| Puerto Rico Financial Retirement Plan | Wells Fargo & Company | MN | DB | 1,539 | $53.3M | $34,664 | — | $249 |
| 1st Source Corporation Employee Stock Ownership and Profit Sharing Plan | 1st Source Corporation | IN | DC | 1,529 | $296M | $193,875 | $5,777 | $175 |
| Macquarie Management Holdings, Inc. Employees' Savings and 401(k) Plan | Macquarie Management Holdings, Inc. | NY | DC | 1,414 | $414M | $292,473 | $7,525 | $78.82 |
| Moelis & Company Group LP 401(k) Profit Sharing Plan | Moelis & Company Holdings LP | NY | DC | 1,413 | $206M | $146,066 | $4,704 | $72.35 |
| Central Bancompany Retirement Plan | Central Bancompany, Inc. | MO | DB | 1,242 | $149M | $119,926 | — | — |
| QCR Holdings, Inc. 401(k) Plan | QCR Holdings, Inc. | IL | DC | 1,208 | $164M | $136,065 | — | $238 |
| Capital City Bank Group, Inc. 401(k) Plan | Capital City Bank Group, Inc. | FL | DC | 1,204 | $86.3M | $71,640 | $2,998 | $156 |
| City Holding Company 401(k) Plan and Trust | City Holding Company | WV | DC | 1,156 | $108M | $93,411 | $1,408 | $100 |
| JRMB II, Inc. 401(k) Plan | JRMB II, Inc. | OK | DC | 1,123 | $30.3M | $27,005 | $560 | $44.00 |
| The First Bancshares, Inc. Employee Stock Ownership Plan | The First, a National Banking Association | MS | DC | 1,098 | $212K | $193 | — | — |
| Peoples First Properties Retirement Savings Plan | Peoples First Properties, Inc. | FL | DC | 1,055 | $26.6M | $25,219 | $3,144 | $137 |
| Horizon Bancorp Employees' Thrift Plan | Horizon Bancorp | IN | DC | 1,048 | $78.3M | $74,760 | $2,502 | $203 |
| Great Southern Bancorp, Inc. 401(k) Plan | Great Southern Bancorp, Inc. | MO | DC | 1,046 | $69.6M | $66,525 | $2,238 | $20.74 |
| Community Bancshares of Mississippi, Inc. Employee Stock Ownership Plan | Community Bancshares of Mississippi, Inc. | MS | DC | 970 | $89.3M | $92,106 | $8,298 | $183 |
| Midwestone Financial Group, Inc. Employee Stock Ownership Plan and Trust | Midwestone Financial Group, Inc. | IA | DC | 912 | $13.0M | $14,283 | $0 | $0.04 |
| Lone Star National Bancshares-Texas, Inc. Employee Stock Ownership Plan | Lone Star National Bancshares-Texas, Inc. | TX | DC | 892 | $36.5M | $40,927 | $1,152 | $9.47 |
By plan size
By state
Questions and answers
How many retirement plans are there in offices of bank holding companies?
128 plans with 100 or more participants filed Form 5500 for plan year 2024, out of 176 pension plans on the full form. Smaller plans file Form 5500-SF and are counted separately where shown.
What is the typical 401(k) balance in offices of bank holding companies?
The median defined contribution plan reported $97,119 in net assets per participant (middle half of plans: $59,937 to $140,905); nationally it was $53,031. This is a plan-level average that includes former employees, not a typical person's balance.
What do employers contribute in offices of bank holding companies?
The median defined contribution plan received $3,644 in employer contributions per active participant, against $2,174 nationally. Plans with no employer contribution are included at zero.
What are average 401(k) fees in offices of bank holding companies?
Among defined contribution plans that report any Schedule C compensation, the median was $141 per participant and 0.13% of net assets (nationally $123 and 0.26%). Schedule C leaves out fund expense ratios and fees the employer pays, so it understates total cost.
Where does this come from?
Form 5500 annual reports in the EBSA research files, with filings received through 24 Aug 2026. Medians are computed by this site across plans with 100 or more participants.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files, public domain, with filings received through 24 Aug 2026. Totals count every pension plan on the full form; medians and the plan list cover plans with 100 or more participants. See the methodology.