FIRST HORIZON CORP 401(k): Transamerica, match 6% max
First Horizon Corporation Savings Plan · FHN · CIK 36966
Transamerica is the recordkeeper named on the Form 5500 filed for this plan, the company that keeps the account records. Where to log in, and what the filing says.
Maximum employer match, as a share of pay
6%
FIRST HORIZON CORP matches 100% (dollar-for-dollar) of the first 6% of pay.
From the Form 11-K filed June 25, 2026 ↗, covering the plan year ended December 31, 2025. Page data last updated July 28, 2026, when the Form 5500 bulk data was last refreshed. Why filings lag
On this page: what the employer actually paid in · the formula, word for word · when the money becomes yours · who can join · who holds your account · what the plan reports to the DOL · how it compares · what to do next
What FIRST HORIZON puts in, and what the plan costs
What FIRST HORIZON put into the plan, per active participant
$4,881
FIRST HORIZON CORP put $4,881 into this plan for each of its 7,406 active participants in plan year 2024. This is the whole employer side of the plan: matching money, profit sharing, non-elective and safe-harbor contributions, and reallocated forfeitures. The Form 5500 does not separate them, so this is what the employer put in and not the match.
FIRST HORIZON put in more per active participant than 51% of plans with 5,000+ participants at banks and lenders. The middle plan in that group of 66 reported $4,881. Banks and lenders comes from business code 522110, which FIRST HORIZON entered on its own Form 5500. Sponsors pick that code themselves, so a code that does not describe what the employer does ranks the plan against the wrong companies.
What this figure cannot separate: how much FIRST HORIZON pays, and how much it puts in
This is dollars, not a rate. A Form 5500 carries no payroll, so the figure reflects both how much the employer puts in and how much the employer pays: two plans running the same formula report different amounts when one pays better. Crossing the peer group with industry holds most of that difference still, and none of it disappears.
This is one plan year, not an average. A true-up, a plan merger or a one-off contribution moves a single year on its own.
Source: DOL Form 5500 for the plan year ended December 31, 2024, EIN 620803242, plan 002 · DOL EFAST2 ↗
The $4,881 above is the Form 5500 figure for plan year 2024, and it counts every employer dollar on one line. FIRST HORIZON CORP also files a Form 11-K, which states the match formula for plan year 2025: the card below reads $2,970 a year at a $49,500 salary, and the same filing states employer contributions made outside the match. That second figure is what the formula pays one worker on that salary, and not an amount either filing reports. The two figures cover different plan years and measure different things, so neither one is the other one corrected.
What FIRST HORIZON puts in
$2,970
a year, at a $49,500 salary.
The match paragraph, word for word
“All participants receive 100% matching of the first 1% to 6% of participant pre-tax, catch-up, and Roth 401(k) contributions.”
What you contribute to collect all of it
Contribute at least 6% of your pay to collect the full match.
That is $2,970 a year at a $49,500 salary, and it scales with your own.
Vesting score
57.14 out of 100
How fast the employer’s money becomes yours. Higher than 5% of the 369 schedules we have scored.
It measures vesting speed and nothing else. It says nothing about the size of the match, what the plan charges, or the funds inside it.
Share of the employer's money that is the worker's at hire and at each of the first 6 anniversaries: 0%, 0%, 0%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Participants are vested immediately in their personal contributions, plus actual earnings thereon. Company matching contributions are subject to a three-year cliff vesting schedule. ENEC contributions are subject to a two-year cliff vesting schedule at which point the contributions become 100% vested.”
A worker hired today collects no match for 1 year. This is a filed term, and it does not move the score above.
Eligibility, word for word
“Under the terms of the Plan, full-time employees are eligible to participate in the Plan immediately. Part-time employees are eligible to participate upon completion of 12 months of service in which they have worked 1,000 hours or more.”
The wait before the match starts and the year-end true-up appear above when the filing states them. Neither is part of the score, and a filing that is silent on one of them is not a plan without it.
What the plan costs, against plans of its size
88th percentile
$113.19 per participant in plan-paid administrative cost, more expensive than 88% of plans with 5,000+ participants.
What is FIRST HORIZON's 401(k) match formula?
FIRST HORIZON's 401(k) employer match tops out at 6% of pay. One rate up to one limit is the commonest of the four shapes a match formula takes.
| Match formula | 100% (dollar-for-dollar) of the first 6% of pay |
|---|---|
| Maximum employer match | 6% of compensation |
| Other employer contribution | Company savings contributions - The Company provides Flexible Dollars to employees to spend on benefits or to deposit into the Plan. Participants’ Flexible Dollars deposited into the Plan are identified as Company savings contributions and are not eligible for matching contributions. These contributions are 100% vested at all times. |
| Other employer contribution | Employer Non-Elective Contributions (“ENECs”) - The Company may also make ENECs for employees not participating in the Management Bonus program provided by the Company. ENECs, which are based upon the Company’s performance from the previous year, are determined annually as a percentage of an eligible participant’s eligible earnings. These contributions are subject to a two-year cliff vesting schedule at which point they become 100% vested. |
At a $75,000 salary, contributing 6% ($4,500) earns the full employer match of $4,500 for the year.
What the filing says, word for word
“All participants receive 100% matching of the first 1% to 6% of participant pre-tax, catch-up, and Roth 401(k) contributions.”
Source: Form 11-K filed June 25, 2026, SEC EDGAR, corroborated by the filing's inline-XBRL facts · SEC ↗
What is FIRST HORIZON's 401(k) vesting schedule?
FIRST HORIZON vests the employer match on a cliff schedule: nothing is yours until three years of service, then 100% at once. Leave a day early and the employer money goes back to the plan, the edge a three-year cliff creates.
| Employer match vesting | Cliff: 100% vested after 3 years of service |
|---|---|
| Your own contributions | Immediate: always 100% yours |
| Accelerated vesting | in the event of termination, the Plan provides that all affected participants’ interests will become fully vested and nonforfeitable |
| Other employer contributions | Company savings contributions are 100% vested at all times. ENEC contributions are subject to a two-year cliff vesting schedule at which point the contributions become 100% vested. |
Vesting, word for word
“Participants are vested immediately in their personal contributions, plus actual earnings thereon. Company matching contributions are subject to a three-year cliff vesting schedule. ENEC contributions are subject to a two-year cliff vesting schedule at which point the contributions become 100% vested.”
Source: Form 11-K filed June 25, 2026, SEC EDGAR · SEC ↗
Who can join FIRST HORIZON's 401(k), and is enrollment automatic?
FIRST HORIZON enrolls new hires automatically at 3% of pay.
| Plan entry | Under the terms of the Plan, full-time employees are eligible to participate in the Plan immediately. Part-time employees are eligible to participate upon completion of 12 months of service in which they have worked 1,000 hours or more. |
|---|---|
| Match eligibility | Company matching contributions - After 1 year of service all participants are eligible for matching contributions. |
| Automatic enrollment | Yes: default deferral 3% of pay |
Eligibility, word for word
“Under the terms of the Plan, full-time employees are eligible to participate in the Plan immediately. Part-time employees are eligible to participate upon completion of 12 months of service in which they have worked 1,000 hours or more.”
Automatic enrollment, word for word
“Automatic savings plan enrollment deferrals for new hires, rehires, and newly eligible enrollees is 3% of eligible pay.”
Source: Form 11-K filed June 25, 2026, SEC EDGAR · SEC ↗
Who holds your account
Schedule C of the Form 5500 filed for plan year 2024 reports Transamerica, filed as “TRANSAMERICA RETIREMENT SOLUTIONS”. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to. The trustee that holds the plan’s assets can be a different company, and this filing does not name it.
1,701 plans on file name Transamerica as their recordkeeper. Of those, the 1,695 with a computable fee have a median plan-paid cost of $149.29 per participant.
Participants log in at Transamerica ↗. 401(k) Monitor is not affiliated with Transamerica or with any other recordkeeper, and takes nothing for this link. It is here because that is where the account is.
| Recordkeeper | Transamerica |
|---|---|
| Recordkeeper EIN | 133689044 |
What does the FIRST HORIZON plan report on Form 5500?
The FIRST HORIZON plan reported $1.1B in assets and 10,003 participants for plan year 2024.
| Total plan assets | $1,118,003,700 |
|---|---|
| Participants | 10,003 |
| Plan-paid admin cost per participant | $113.19 |
How that cost compares
This plan pays $113.19 per participant. The median across plans at banks and lenders is $152.83, from the 2,143 of 2,264 whose Form 5500 yields a per-participant cost.
First Horizon Corporation Savings Plan on its Form 5500 filing: fees, providers and financials
How does FIRST HORIZON's 401(k) match compare?
FIRST HORIZON CORP's maximum 401(k) match of 6% of pay compares with a median of 4% across the 269 companies in our data with a computable formula.
Employers worth reading next
Of the six employers below, three file at banks and lenders, two report the same recordkeeper and one vests on the same schedule.
Maximum match 6% of pay. Also at banks and lenders.
Maximum match 6% of pay. Also at banks and lenders.
Maximum match 5% of pay. Also at banks and lenders.
Maximum match 4% of pay. Same recordkeeper, Transamerica.
Maximum match 3.5% of pay. Same recordkeeper, Transamerica.
Maximum match 7% of pay. Same 3-year cliff as FIRST HORIZON.
What can you do next?
- Read the Form 11-K on SEC EDGAR ↗
Form 11-K filed June 25, 2026, SEC EDGAR. Every match fact on this page comes from it.
- Changed jobs? Find an old 401(k) ↗
The Department of Labor's Retirement Savings Lost & Found, a free government database.
- This year's IRS contribution limits ↗
The official deferral and catch-up limits every formula operates under.
Questions this filing answers
What is FIRST HORIZON CORP's 401(k) match?
First Horizon Corp matches 100% of employee contributions up to 6% of eligible pay (plan year ended December 31, 2025).
When does the FIRST HORIZON CORP 401(k) match vest?
Cliff: 100% vested after 3 years of service.
Does FIRST HORIZON CORP's 401(k) plan have automatic enrollment?
Yes: default deferral 3% of pay.
Who is the recordkeeper for FIRST HORIZON CORP's 401(k)?
Transamerica is named as the recordkeeper on the Form 5500 filed for First Horizon Corporation Savings Plan for plan year 2024. That is the company paid to keep the account records: what is in an account, what went into it, and usually the site a participant signs in to.
Source
The match formula, the vesting schedule and the enrollment rules on this page were read from one document: the Form 11-K annual report that FIRST HORIZON CORP filed with the US Securities and Exchange Commission for the plan year ended December 31, 2025. Each of those fields carries the filing sentence it was read from, expandable where the field appears. Nothing on this page was supplied by the employer to this site.
The plan assets, the participant counts, the plan-paid fees and the recordkeeper come from a different document, the plan’s DOL Form 5500 annual return, and the section that reports them links it. Comparisons with other employers are computed across the filings named in the section they appear in.
Read the filing on SEC EDGAR ↗
| Document | Form 11-K annual report |
|---|---|
| Filed with | US Securities and Exchange Commission (EDGAR) |
| Filed by | FIRST HORIZON CORP |
| SEC CIK | 36966 |
| Accession number | 0000036966-26-000135 |
| Plan | First Horizon Corporation Savings Plan |
| Period of report | December 31, 2025 |
| Filed | June 25, 2026 |
401(k) Monitor is not affiliated with FIRST HORIZON CORP, with the Securities and Exchange Commission or with this plan’s recordkeeper, and publishes this page without their involvement. It republishes a public filing and says where it came from.
Cite this page
401(k) Monitor, “FIRST HORIZON CORP 401(k) plan facts”, from SEC Form 11-K accession 0000036966-26-000135, plan year ended December 31, 2025.
