Ohio › Finance and insurance › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
Park National Corporation Defined Benefit Pension Plan
Sponsored by Park National Corporation, Newark, OH
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.
Park National Corporation Defined Benefit Pension Plan is a cash balance pension plan sponsored by Park National Corporation of Newark, Ohio. For the plan year ending 30 Sep 2025 it reported 1,706 participants, 1,403 of them active, and net assets of $238M.
Net assets came to $139,676 per participant, well above the $87,935 median for defined benefit plans with 1,000 to 4,999 participants and above the $119,983 median for defined benefit 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.
Schedule C lists 1 service provider organisation paid $5,000 or more, with reported compensation of $202K: $118 per participant, well below the same-size median of $325. Administrative expenses charged to the plan were $391K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $79.4M in 2009 to $238M in 2024 (up 200%), and participants from 2,321 to 1,706 (down 26%).
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 DB plans |
|---|---|---|---|---|
| Net assets per participant | $139,676 | $87,935 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $10,593 | $7,849 | $10,244 |
| Schedule C compensation per participant | $118 | $325 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.09% | 0.41% | 0.32% | 0.42% |
| Administrative expenses per participant | $229 | $513 | $433 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 1,000 to 4,999 participants (1,540 plans), finance and insurance (690) and all US plans (5,308). 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 | 1,706 | $238M | $139,676 | — | — | $202K |
| 2023 | 1,692 | $231M | $136,806 | — | — | $224K |
| 2022 | 2,103 | $209M | $99,250 | — | — | $0 |
| 2021 | 2,078 | $192M | $92,410 | — | — | $0 |
| 2020 | 2,134 | $249M | $116,688 | — | — | $0 |
| 2019 | 2,173 | $208M | $95,795 | — | — | $0 |
| 2018 | 2,192 | $198M | $90,380 | — | — | $0 |
| 2017 | 2,218 | $201M | $90,652 | $15.0M | — | $0 |
| 2016 | 2,281 | $174M | $76,489 | — | — | $0 |
| 2015 | 2,289 | $160M | $70,095 | — | — | $0 |
| 2014 | 2,327 | $147M | $63,072 | — | — | $0 |
| 2013 | 2,320 | $155M | $66,861 | — | — | $0 |
| 2012 | 2,296 | $143M | $62,180 | $12.6M | — | $0 |
| 2011 | 2,272 | $119M | $52,511 | $15.9M | — | $0 |
| 2010 | 2,304 | $87.9M | $38,144 | $14.0M | — | $0 |
| 2009 | 2,321 | $79.4M | $34,189 | $2.0M | — | $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$231,476,481
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$14,356,791
- Benefits paid$7,155,383
- Administrative expenses$391,148
- Total expenses$7,546,531
- Net income$6,810,260
- Net transfers$0
- Net assets, end of year$238,286,741
Participants
- Active participants1,403
- Retired or separated, receiving benefits29
- Retired or separated, entitled to future benefits271
- Total participants, end of year1,706
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Aon Consulting | Actuarial; Contract Administrator; Consulting (pension) | $201,958 | $0 |
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.
Administrative expenses on Schedule H
- Contract administrator fees$201,958
- Other administrative expenses$189,190
- Total administrative expenses$391,148
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.
- Corporate stocks$112M · 46.9%
- U.S. Government securities$64.7M · 27.2%
- Registered investment companies (mutual funds)$34.5M · 14.5%
- Cash (interest and non-interest bearing)$14.8M · 6.2%
- Corporate debt instruments$11.8M · 4.9%
- Receivables$722K · 0.3%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmCrowe LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $20,000,000
- Blackout period during the year—
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
1ABenefits are primarily pay related1CCash balance or similar plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 522110: Commercial Banking.
Other plans of Park National Corporation
| Plan | Participants | Net assets |
|---|---|---|
| The Park National Corporation Employees Stock Ownership Plan | 2,191 | $274M |
Similar plans in Ohio
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Pipe Fitters Local Union No. 120 Pension Plan | Pipe Fitters Local Union 120 Pens. Fund | 2,009 | $221M | $110,087 |
| Group Pension Plan for Employees of Central Insurance Company | Central Insurance Company | 1,271 | $220M | $173,426 |
| UFCW Heartland Pension Fund | Board of Trustees of UFCW Heartland Pension Fund | 2,333 | $58.7M | $25,145 |
| Cincinnati Financial Corporation Retirement Plan | Cincinnati Financial Corporation | 922 | $358M | $388,566 |
| The Fifth Third Bancorp Master Retirement Plan | Fifth Third Bancorp | 2,827 | $87.9M | $31,076 |
| Grange Holdings, Inc. Retirement Income Plan | Grange Holdings, Inc. | 466 | $112M | $240,778 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Park National Corporation Defined Benefit Pension Plan?
1,706 participants at the end of the plan year ending 30 Sep 2025, of whom 1,403 were active employees, with net assets of $238,286,741. Among defined benefit plans that places it in the 1,000 to 4,999 participants band, which held 1,540 plans in plan year 2024.
What does Park National 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 $201,958 in compensation to service provider organisations, $118 per participant or 0.09% of net assets. The same-size median among plans reporting any Schedule C compensation was $325 per participant. Administrative expenses on Schedule H were $391,148. 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 Park National Corporation. Recordkeeping or administration: Aon Consulting. The financial statements were audited by Crowe 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 Oct 2024 to 30 Sep 2025, received by the Department of Labor on 9 Jul 2026. 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 31-1179518, plan 001, received 9 Jul 2026; 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.