Fifth Third Bancorp 401(k) Review & Grade
Fifth Third Bancorp 401(k) Savings Plan
Cincinnati, OHFinance & Insurance18,930 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,018Employer $ per active participant
$7,813Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$4.0BNet plan assets, end of year
$172,299Average balance per account
Score breakdown
- Employer generosity28.9 / 5058th percentile for employer $ per participant
- Low cost17.2 / 2569th percentile for low admin cost vs. same-size plans
- Employee saving4.2 / 1528th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-8 pts2 issues reported on the filing
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 58th |
| Lower admin cost | 69th |
| Employee saving | 28th |
| Peers that auto-enroll | 74% |
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Red flags from the filing
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
Corrective distributions: the plan refunded $4,067 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Fifth Third Bancorp put in about $6,018 per active participant, more than the typical peer ($5,179). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $113,929,251 |
| Participant (employee) contributions | $147,904,000 |
| Other contributions (incl. rollovers in) | $26,167,014 |
| Administrative expenses paid from the plan | $2,051,704 |
| Investment advisory & management fees | $1,953,716 |
| Benefits paid out | $380,756,718 |
| Net assets, start / end of year | $3.6B / $4.0B |
| Active participants, start / end of year | 19,005 / 18,855 |
| Participants with account balances | 23,249 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Empower Advisory Group, LLC | $1,613,845 reported compensation |
| Barrow, Hanley, Mewhinney & Strauss | $339,871 reported compensation |
| Thompson Hine LLP | $53,618 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010111855NAL0012423024001, received 2025-10-10, EIN 31-0854434, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.