Banks and lenders 401(k) plans
The median 401(k) plan at banks and lenders paid $152.83 per participant per year in plan-paid administrative fees, computed from 2,143 of the 2,264 banks and lenders plans published here, form year 2024.
Computed from DOL EFAST2 Form 5500 bulk data, not surveys. The 57,824 plans published so far are a subset of the 57,824 large plans in the form-year-2024 data, so this median describes the published subset, not the whole industry.
$152.83
Median plan-paid administrative cost per participant per year among 2,143 banks and lenders plans with usable fee data, form year 2024.
$30.66 above the $122.17 median across all published plans.
How do banks and lenders 401(k) fees compare?
Plan size drives fees more than industry does: bigger plans pay less per head. See median fees by plan size before reading an industry gap as an industry effect.
54 of the biggest banks and lenders 401(k) plans
| Plan | Sponsor | Active participants | Assets | Fee ($) |
|---|---|---|---|---|
| JPMorgan Chase 401(k) Savings Plan | JPMorgan Chase Bank, National Association | 185,310 | $52.9B | 72.97 |
| U.S. Bank 401(k) Savings Plan | U.S. Bancorp | 67,658 | $11.4B | 103.70 |
| The PNC Financial Services Group, Inc. Incentive Savings Plan | The PNC Financial Services Group, Inc. | 53,180 | $10.2B | 103.79 |
| Truist Financial Corporation 401(k) Savings Plan | Truist Financial Corporation | 38,574 | $9.2B | 33.10 |
| American Express Retirement Savings Plan | American Express Company And Its Participating Subsidiaries | 25,049 | $9.1B | 356.79 |
| Navy Federal 401(k) Savings Plan | Navy Federal Credit Union | 24,775 | $3.2B | 40.99 |
| M & T Bank Corporation Retirement Savings Plan | Manufacturers And Traders Trust Co. | 22,296 | $5.2B | 70.75 |
| The Huntington 401(k) Plan | Huntington Bancshares Incorporated | 20,450 | $2.4B | 58.97 |
| Discover Financial Services 401(k) Plan | Discover Financial Services | 20,237 | $3.2B | 85.15 |
| Regions Financial Corporation 401(k) Plan | Regions Financial Corporation | 20,137 | $3.2B | 49.63 |
| BMO 401(k) Savings Plan | BMO Financial Corp. | 19,696 | $5.0B | 35.41 |
| Fifth Third Bancorp 401(k) Savings Plan | Fifth Third Bancorp | 18,855 | $4.0B | 78.35 |
| CFG Retirement Savings Plan | Citizens Financial Group, Inc. | 17,701 | $3.2B | 66.55 |
| Keycorp 401(k) Savings Plan | Keycorp | 17,385 | $4.1B | 183.64 |
| Rock Holdings & Associated Companies Savings Plan | Rock Holdings, Inc. | 15,943 | $2.2B | 59.16 |
| First-Citizens Bank & Trust Company 401(k) Plan | First-Citizens Bank & Trust Company | 15,787 | $2.7B | 28.70 |
| Visa 401(k) Plan | Visa Inc. | 13,476 | $5.2B | 4.05 |
| Global Payments Inc. 401(k) Plan | Global Payments Inc. | 13,174 | $2.3B | 43.75 |
| Santander 401(k) Plan | Santander Holdings USA, Inc. | 12,035 | $1.9B | 37.93 |
| Barclays 401(k) Plan | Barclays Services Corporation | 11,498 | $3.6B | 64.51 |
| Mastercard Savings Plan | Mastercard International Incorporated | 11,144 | $3.9B | 121.04 |
| Synchrony Financial My Savings Plan | Synchrony Financial | 10,687 | $1.6B | 30.38 |
| Ally Financial Inc. Retirement Savings Plan | Ally Financial Inc. | 10,634 | $2.9B | 55.34 |
| Zions Bancorporation, N.A. Payshelter 401(k) And Employee Stock Ownership Plan | Zions Bancorporation, National Association | 10,518 | $1.9B | 57.18 |
| The Northern Trust Company Thrift-Incentive Plan | The Northern Trust Company | 9,702 | $3.3B | 113.07 |
| Onemain 401(k) Plan | Onemain General Services Corporation | 9,172 | $650.6M | 77.39 |
| United Wholesale Mortgage, LLC Profit Sharing Plan And Trust | United Wholesale Mortgage, LLC | 9,098 | $195.0M | 91.35 |
| Federal National Mortgage Association Retirement Savings Plan For Employees | Federal National Mortgage Association | 8,187 | $4.6B | 124.21 |
| Crosscountry Mortgage 401(k) Retirement Savings Plan | Crosscountry Mortgage, LLC | 8,037 | $340.3M | 138.31 |
| State Employees' Credit Union Retirement Savings Plan | State Employees' Credit Union | 7,935 | $1.6B | 48.74 |
| Flagstar Financial, Inc. Employee Savings Plan | Flagstar Financial, Inc. | 7,891 | $917.8M | 97.79 |
| Comerica Incorporated Preferred Savings Plan | Comerica Incorporated | 7,885 | $2.0B | 34.56 |
| First Horizon Corporation Savings Plan | First Horizon Corporation | 7,406 | $1.1B | 113.19 |
| Gm Financial Employees 401(k) Plan | General Motors Financial Company, Inc. | 6,926 | $1.1B | 37.83 |
| City National Bank Profit Sharing Plan | City National Bank | 6,547 | $1.7B | 104.68 |
| Equifax Inc. 401(k) Plan | Equifax, Inc. | 6,424 | $1.5B | 70.89 |
| Arvest Bank 401(k) & Profit Sharing Retirement Plan | Arvest Bank | 6,248 | $925.8M | 35.39 |
| Experian Personal Investment Plan | Experian, Inc. | 6,165 | $1.7B | 48.78 |
| The 401(k) Stock Purchase Plan For Employees Of Cullen/Frost Bankers, Inc. And Its Affiliates | Cullen/Frost Bankers, Inc. | 5,979 | $1.2B | 79.93 |
| Rate Holdings Corp. Multiple Employer 401(k) Plan | Rate Holdings Corp. | 5,942 | $525.8M | 58.34 |
| Wintrust Financial Corporation Retirement Savings Plan | Wintrust Financial Corporation | 5,806 | $797.6M | 11.34 |
| Rithm Capital Family Of Companies 401(k) Plan | Rithm Capital LLC | 5,594 | $516.7M | 45.54 |
| Mufg Bank Ltd. 401(k) Plan | Mufg Bank, Ltd | 5,478 | $2.9B | 48.01 |
| Cadence 401(k) Profit-Sharing Plan | Cadence Bank | 5,423 | $817.1M | n/a |
| Southstate Bank 401(k) Retirement Savings Plan | Southstate Bank, N.A. | 5,303 | $628.6M | 53.43 |
| Co-Op Solutions 401(k) Retirement Plan | Cu Cooperative Systems, Inc. | 5,097 | $214.5M | 98.55 |
| Guild Mortgage Company Profit Sharing 401(k) Plan | Guild Mortgage Company LLC | 5,083 | $456.4M | 125.92 |
| Nationstar Mortgage 401(k) Retirement Plan | Mr. Cooper Group Inc. | 5,068 | $603.8M | 37.64 |
| Bread Financial 401(k) Plan | Bread Financial Payments, Inc. | 4,992 | $932.1M | 3.77 |
| Bok Financial 401(k) Plan | Bokf, Na | 4,961 | $1.2B | 26.92 |
| Commerce Bancshares, Inc. Participating Investment Plan | Commerce Bancshares, Inc. | 4,874 | $1.1B | n/a |
| Loandepot.Com, LLC 401(k) Plan | Loandepot.Com, LLC | 4,828 | $397.5M | 66.99 |
| Gbt 401(k) Plan | Gbt US LLC | 4,795 | $470.7M | 73.12 |
| Umpqua Bank 401(k) And Profit Sharing Plan | Columbia Banking System, Inc. | 4,695 | $761.3M | 68.04 |
All 2,264 banks and lenders plans on file are listed below by size, and every one of them is searchable from the home page.
Every Banks and lenders plan, by size
The table above is the top of the list. These 12 pages hold all 2,264 plans on file in banks and lenders, split by how many people are in them, each ranked by active participants.
- 100 to 499 participants · 1,599 plans
- 500 to 999 participants · 334 plans
- 1,000 to 4,999 participants · 263 plans
- 5,000 or more participants · 68 plans
Which banks and lenders companies disclose their 401(k) match?
For these 10 employers we also read the SEC Form 11-K and extracted the match terms, matched to this industry by the plan’s EIN.
- BANK OF HAWAII CORP
125% of the first 2% of pay, then 50% of the next 3% of pay
- Comerica Incorporated
100% (dollar-for-dollar) of the first 4% of pay
- CULLEN/FROST BANKERS, INC.
100% (dollar-for-dollar) of the first 7% of pay
- FIRST HORIZON CORP
100% (dollar-for-dollar) of the first 6% of pay
- FNB CORP/PA/
100% (dollar-for-dollar) of the first 6% of pay
- Huntington Bancshares Incorporated
150% of the first 2% of pay, then 100% (dollar-for-dollar) of the next 1% of pay
- M&T Bank Corporation
100% (dollar-for-dollar) of the first 5% of pay
- Regions Financial
100% (dollar-for-dollar) of the first 5% of pay
- TRUSTMARK CORP
100% (dollar-for-dollar) of the first 6% of pay
- U.S. Bancorp
100% (dollar-for-dollar) of the first 4% of pay
Which employers count as banks and lenders here?
Monetary authorities and credit intermediation (codes 521110 to 522999): banks, savings institutions, credit unions and card issuers. Sponsors here include Citizens Financial, Discover and American Express.
The code is the IRS principal business activity code the sponsor itself puts on Form 5500, line 2d. Medians count only plans whose Schedule H shows a positive plan-paid administrative expense (2,143 of 2,264 plans here). Plan-paid expenses exclude fund expense ratios and employer-paid bills, so every figure is a floor, not the all-in cost. Latest filing in this group received by the DOL July 22, 2026; source dataset last refreshed July 28, 2026. Full methodology
Cite this page
401(k) Monitor, “Banks and lenders 401(k) plans: median plan-paid administrative cost per participant”, computed from DOL EFAST2 Form 5500 bulk data, form year 2024.