Renasant Bank 401(k) Review & Grade
Renasant Bank 401(k) Plan
Tupelo, MSFinance & Insurance2,366 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,206Employer $ per active participant
$5,928Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$320.2MNet plan assets, end of year
$106,915Average balance per account
Score breakdown
- Employer generosity21.5 / 5043th percentile for employer $ per participant
- Low cost19.8 / 2579th percentile for low admin cost vs. same-size plans
- Employee saving5.1 / 1534th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score56 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 79th |
| Employee saving | 34th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Renasant Bank put in about $3,206 per active participant, below the typical peer ($3,606). 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 | $7,586,933 |
| Participant (employee) contributions | $14,028,113 |
| Other contributions (incl. rollovers in) | $1,757,940 |
| Administrative expenses paid from the plan | $245,922 |
| Investment advisory & management fees | $19,900 |
| Other admin expenses | $322 |
| Benefits paid out | $35,209,801 |
| Net assets, start / end of year | $295.6M / $320.2M |
| Active participants, start / end of year | 2,423 / 2,310 |
| Participants with account balances | 2,995 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Horne LLP |
| Employer stock held by plan | $22,447,179 |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $225,700 reported compensation |
| Empower Advisory Group, LLC | $19,900 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250627152922NAL0023121474001, received 2025-06-27, EIN 64-0220550, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.