Ohio › Finance and insurance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
Keycorp Consolidated Cash Balance Plan
Sponsored by Keycorp, Cleveland, 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.
In the plan year ending 30 Sep 2025, Keycorp Consolidated Cash Balance Plan covered 16,110 participants and held $798M in net assets. The plan is a cash balance pension plan sponsored by Keycorp of Cleveland, Ohio.
Net assets came to $49,553 per participant, well below the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and well below 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 6 service provider organisations paid $5,000 or more, with reported compensation of $1.4M: $89.08 per participant, well below the same-size median of $232. Administrative expenses charged to the plan were $3.1M. 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 $358M in 2015 to $798M in 2024 (up 123%), and participants from 4,066 to 16,110 (up 296%).
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 | $49,553 | $87,623 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $9,468 | $7,849 | $10,244 |
| Schedule C compensation per participant | $89.08 | $232 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.18% | 0.30% | 0.32% | 0.42% |
| Administrative expenses per participant | $195 | $396 | $433 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 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 | 16,110 | $798M | $49,553 | — | — | $1.4M |
| 2023 | 16,818 | $836M | $49,697 | — | — | $1.5M |
| 2022 | 17,600 | $813M | $46,205 | — | — | $1.4M |
| 2021 | 18,320 | $877M | $47,853 | — | — | $1.7M |
| 2020 | 19,099 | $1.11B | $57,910 | — | — | $3.0M |
| 2019 | 19,772 | $1.13B | $57,317 | — | — | $3.3M |
| 2018 | 20,863 | $1.11B | $53,370 | — | — | $2.9M |
| 2017 | 21,820 | $1.08B | $49,702 | — | — | $2.5M |
| 2016 | 22,751 | $1.17B | $51,231 | — | — | $2.0M |
| 2015 | 4,066 | $358M | $88,138 | — | — | $53K |
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$835,798,978
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions—
- Total income, including investment results$31,209,826
- Benefits paid$65,573,137
- Administrative expenses$3,133,711
- Total expenses$68,706,848
- Net income−$37,497,022
- Net transfers$0
- Net assets, end of year$798,301,956
Participants
- Active participants2,818
- Retired or separated, receiving benefits6,070
- Retired or separated, entitled to future benefits6,422
- Total participants, end of year16,110
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Fidelity Investments Institutional | Investment management | $977,802 | $0 |
| Aon Consulting Inc. | Actuarial | $224,069 | $0 |
| Callan LLC | Investment advisory (plan) | $128,000 | $0 |
| BlackRock Institutional Trust Co. | Investment management | $80,934 | $0 |
| Thompson Hine LLP | Legal | $17,738 | $0 |
| Meaden & Moore, Ltd. | Accounting (including auditing) | $6,550 | $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
- Other administrative expenses$1,698,618
- Investment advisory and management fees$1,186,736
- Actuarial fees$224,069
- Legal fees$17,738
- IQPA audit fees$6,550
- Total administrative expenses$3,133,711
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.
- Common/collective trusts$456M · 57.1%
- Registered investment companies (mutual funds)$319M · 39.9%
- Insurance company general account$14.7M · 1.8%
- Pooled separate accounts$8.4M · 1.1%
- Receivables$876K · 0.1%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmMeaden & Moore Ltd.
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $250,000,000
- 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 related1BBenefits are primarily flat dollar (includes dollars per year of service)1CCash balance or similar plan1IFrozen plan3HPlan 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 522110: Commercial Banking.
Other plans of Keycorp
| Plan | Participants | Net assets |
|---|---|---|
| Keycorp 401(k) Savings Plan | 28,272 | $4.13B |
Similar plans in Ohio
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Nationwide Retirement Plan - Final Average Pay | Nationwide Mutual Insurance Company | 19,904 | $3.46B | $173,747 |
| Huntington Bancshares Retirement Plan | Huntington Bancshares Incorporated | 11,497 | $702M | $61,035 |
| Nationwide Retirement Plan - Account Balance | Nationwide Mutual Insurance Company | 28,800 | $908M | $31,522 |
| Western & Southern Financial Group Pension Plan | The Western and Southern Life Insurance Company | 5,325 | $1.21B | $226,730 |
| Central Ohio UFCW Unions and Retail Employers Pension Plan | Board of Trustees of the Central Ohio UFCW Unions and Employers Pensio | 4,708 | $56.9M | $12,090 |
| Ohio Farmers Insurance Company Pension Plan | Ohio Farmers Insurance Company | 4,368 | $728M | $166,623 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is Keycorp Consolidated Cash Balance Plan?
16,110 participants at the end of the plan year ending 30 Sep 2025, of whom 2,818 were active employees, with net assets of $798,301,956. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does Keycorp 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 $1,435,093 in compensation to service provider organisations, $89.08 per participant or 0.18% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $3,133,711. 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 Keycorp. Investment advisory or management: Fidelity Investments Institutional, Callan LLC and BlackRock Institutional Trust Co.. The financial statements were audited by Meaden & Moore Ltd.. 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 15 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 34-6542451, plan 007, received 15 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.