Pennsylvania › Finance and insurance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Employee Stock Ownership Plan of the Bank of New York Company, Inc.
Sponsored by The Bank of New York Mellon Corporation, Pittsburgh, PA
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. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
Employee Stock Ownership Plan of the Bank of New York Company, Inc. is an employee stock ownership plan sponsored by The Bank of New York Mellon Corporation of Pittsburgh, Pennsylvania. For the plan year ending 31 Dec 2024 it reported 10,828 participants, 1,845 of them active, and net assets of $244M.
Net assets came to $22,539 per participant, well below the $64,499 median for defined contribution plans with 5,000 to 24,999 participants and well below the $92,294 median for defined contribution plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The filing reports no service provider compensation on Schedule C. That is common where fees are paid by the employer or taken from investment returns, neither of which appears there. Administrative expenses charged to the plan were $0.
Across the filings on record, net assets went from $229M in 2009 to $244M in 2024 (up 7%), and participants from 20,288 to 10,828 (down 47%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $22,539 | $64,499 | $92,294 | $53,102 |
| Employer contributions per active participant | — | $2,424 | $3,564 | $2,175 |
| Schedule C compensation per participant | — | $53.38 | $137 | $123 |
| Schedule C compensation, share of net assets | — | 0.09% | 0.17% | 0.26% |
| Administrative expenses per participant | — | $54.85 | $130 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 5,000 to 24,999 participants (2,605 plans), finance and insurance (4,391) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 10,828 | $244M | $22,539 | — | — | $0 |
| 2023 | 11,503 | $185M | $16,121 | — | — | $0 |
| 2022 | 12,060 | $171M | $14,179 | — | — | $0 |
| 2021 | 12,612 | $236M | $18,695 | — | — | $183K |
| 2020 | 13,190 | $187M | $14,177 | — | — | $324K |
| 2019 | 13,823 | $235M | $16,990 | — | — | $341K |
| 2018 | 14,584 | $236M | $16,199 | — | — | $359K |
| 2017 | 15,283 | $293M | $19,183 | — | — | $374K |
| 2016 | 15,877 | $274M | $17,236 | — | — | $491K |
| 2015 | 16,503 | $251M | $15,236 | — | — | $154K |
| 2014 | 17,028 | $263M | $15,452 | — | — | $0 |
| 2013 | 17,698 | $236M | $13,324 | — | — | $0 |
| 2012 | 18,126 | $181M | $9,987 | — | — | $0 |
| 2011 | 18,725 | $146M | $7,814 | — | — | $100K |
| 2010 | 19,262 | $228M | $11,853 | — | — | $0 |
| 2009 | 20,288 | $229M | $11,288 | — | — | $0 |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$185,443,489
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$88,062,158
- Benefits paid$1,056,795
- Administrative expenses$0
- Total expenses$1,056,795
- Net income$87,005,363
- Net transfers−$28,398,612
- Net assets, end of year$244,050,240
Participants
- Active participants1,845
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits8,915
- Participants with account balances10,828
- Total participants, end of year10,828
Fees and service providers
No service provider organisations are listed on Schedule C for this plan year.
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Master trust investment accounts$244M · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmKPMG, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $200,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2DOffset plan2FERISA section 404(c) plan2HPartial participant-directed account plan2OESOP other than a leveraged ESOP3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 523900: Other Financial Investment Activities (including portfolio management & investment advice).
Other plans of The Bank of New York Mellon Corporation
| Plan | Participants | Net assets |
|---|---|---|
| The Bank of New York Mellon Corporation 401(k) Savings Plan | 42,007 | $9.91B |
Similar plans in Pennsylvania
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Amerihealth Caritas 401(k) Plan | Amerihealth Caritas Services, LLC | 11,296 | $948M | $83,883 |
| The Agma Retirement Plan | Board of Trustees Agma Retirement Plan | 8,993 | $117M | $12,983 |
| Santander 401(k) Plan | Santander Holdings USA, Inc. | 19,451 | $1.30B | $66,844 |
| Erie Insurance Group Employee Savings Plan | Erie Indemnity Company | 7,861 | $1.35B | $172,038 |
| Highmark Investment Plan | Highmark Health | 21,288 | $2.86B | $134,400 |
| F.N.B. Corporation Progress Savings 401(k) Plan | F.N.B. Corporation | 6,574 | $603M | $91,749 |
Defined contribution plans in finance and insurance closest in size.
Questions and answers
How big is Employee Stock Ownership Plan of the Bank of New York Company, Inc.?
10,828 participants at the end of the plan year ending 31 Dec 2024, of whom 1,845 were active employees, with net assets of $244,050,240. Among defined contribution plans that places it in the 5,000 to 24,999 participants band, which held 2,605 plans in plan year 2024.
What does The Bank of New York Mellon Corporation contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports no provider compensation for the year. Administrative expenses on Schedule H were $0. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is The Bank of New York Mellon Corporation. The financial statements were audited by KPMG, LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 13 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 13-2614959, plan 003, received 13 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.