Regions Financial Corporation 401(k) Review & Grade
Regions Financial Corporation 401(k) Plan
Hoover, ALFinance & Insurance20,460 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,102Employer $ per active participant
$6,973Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$3.2BNet plan assets, end of year
$110,928Average balance per account
Score breakdown
- Employer generosity24.6 / 5049th percentile for employer $ per participant
- Low cost17.5 / 2570th percentile for low admin cost vs. same-size plans
- Employee saving1.7 / 1511th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score51 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 49th |
| Lower admin cost | 70th |
| Employee saving | 11th |
| Peers that auto-enroll | 74% |
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Red flags from the filing
Corrective distributions: the plan refunded $6,201 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Regions Financial put in about $5,102 per active participant, below the typical peer ($5,179). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $104,393,169 |
| Participant (employee) contributions | $142,670,598 |
| Other contributions (incl. rollovers in) | $21,297,480 |
| Administrative expenses paid from the plan | $1,549,890 |
| Benefits paid out | $367,212,664 |
| Net assets, start / end of year | $2.9B / $3.2B |
| Active participants, start / end of year | 20,783 / 20,137 |
| Participants with account balances | 28,825 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst & Young |
| Employer stock held by plan | $320,025,036 |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $1,549,878 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250717090658NAL0000026945001, received 2025-07-17, EIN 63-0589368, plan #012, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.