Defined Benefit (Pension) · DOL Form 5500 · 2023
Truist Financial Corporation Pension Plan
Data updated 2026-08-25
- $14.6B
- Total assets Mega-plan scale
- 45,818
- Participants Very large workforce
- 100th
- Percentile by assets National rank
- $318,268
- Avg per participant High balance/head
Official DOL plan name: Truist Financial Corporation Pension Plan · Sponsored by Truist Financial Corporation · North Carolina · Finance & Insurance
$14.6B in assets, 45,818 participants
Truist Financial Corporation's Truist Financial Corporation Pension Plan reported $14.6B in total assets and 45,818 participants in its 2023 DOL Form 5500 filing, ranking in the 100th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.
- #8,861 in Finance & Insurance (8,869 peers)
Coverage in North Carolina
Truist Financial Corporation Pension Plan covers 45,818 participants in North Carolina, 56x the typical North Carolina plan (state average ~819 per filing). Assets: $14.6B.
- #8,861
- in Finance & Insurance (8,869 peers)
- +17.0%
- assets growth YoY
- 146×
- vs typical plan assets (national mean)
Truist Financial Corporation Pension Plan's outsized position by total assets
Truist Financial Corporation Pension Plan vs every filed plan by assets
End-of-year total assets · plan year 2023 · DOL Form 5500
$14,582,387,965 Highest reported value at or above every one of 127,068 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023
Truist Financial Corporation Pension Plan's mega-plan peer group by participant headcount
Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Truist Financial Corporation Pension Plan is a mega filing (45,818 participants), the rightmost band on the breakdown.
What changed between DOL Form 5500 filings
plan year 2022 → plan year 2023
- Truist Financial Corporation Pension Plan reported net income rose from -$3.9B in the plan year 2022 filing to $2.1B in the plan year 2023 filing.
- Truist Financial Corporation Pension Plan reported participants rose from 37,931 in the plan year 2022 filing to 45,818 in the plan year 2023 filing.
- Truist Financial Corporation Pension Plan end-of-year assets rose from $12.5B in the plan year 2022 filing to $14.6B in the plan year 2023 filing.
DOL schedule card
Filing strip 560939887 · Truist Financial Corporation PY 2023 · Defined Benefit (Pension)
Truist Financial Corporation Pension Plan · $14.6B · 45,818 · 100th
- EOY $14.6B
- EOY 45,818
- EOY 100th
- EOY Defined Benefit (Pension)
- EOY near Iam National Pension Fund
- EOY ind #8861
Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in North Carolina →
Truist Financial Corporation Pension Plan in the asset neighbourhood
North Carolina filing particulars
| Total Assets (Beginning of Year) | $12.5B |
|---|---|
| Net Assets (End of Year) | $14.6B |
| Net Income | $2.1B |
| Employer EIN | 560939887 |
| Plan Effective Date | 1944-10-01 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Truist Financial Corporation)
Sponsor-wide plan assets over time
All Truist Financial Corporation plans reported in each filing year
- Latest sponsor-wide plan assets
- $23.9B 11.676229271829822% vs 2022
- 2024 filing year
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 2 | 89,802 | $21.4B |
| 2023 | 2 | 101,298 | $24.7B |
| 2024 | 2 | 91,247 | $23.9B |
Nearby Defined Benefit (Pension) Plans in North Carolina
Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.
- Honeywell Retirement Earnings Plan $16.6B · 11,145
- Duke Energy Retirement Cash Balance Plan $4.0B · 14,485
- Duke Energy Legacy Pension Plan $3.4B · 371
- Employees' Retirement Plan of Duke University $2.6B · 21,020
- Time Warner Cable Pension Plan $2.6B · 16,981
Scale composition for Truist Financial Corporation Pension Plan
Truist Financial Corporation Pension Plan reports $14.6B in end-of-year assets across 45,818 participants (0.12% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.049% of 93,925,755 covered participants) - about $318,268 per participant (2.3x the national average assets-per-participant) . Net income for plan year 2023 was $2.1B.
This plan identity (EIN 560939887, plan #001) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $12.5B to $14.7B (+17.9%) while covered participants moved from 37,931 to 38,548 . Single-year sparse filers cannot show that trail.
| Plan year | Participants | EOY assets | Filing |
|---|---|---|---|
| 2022 | 37,931 | $12.5B | Open filing |
| 2023 | 45,818 | $14.6B | This page |
| 2024 · index core | 38,548 | $14.7B | Open filing |
The same sponsor also keeps 2 other index-core plans on PlainRetire:
- Truist Financial Corporation Pension Plan (Defined Benefit (Pension), $14.7B, 38,548 participants)
- Truist Financial Corporation 401(k) Savings Plan (401(k), $9.2B, 52,699 participants)
Truist Financial Corporation Pension Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount
Outside North Carolina, the nearest Defined Benefit (Pension) by assets is Iam National Pension Fund in DC ($14.3B); by covered participants it is Southwest Carpenters Pension Trust in CA (45,891 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($14.6B here).
- Iam National Pension Fund (DC) $14.3B · 92,151
- 3M Employee Retirement Income Plan (MN) $14.3B · 10,638
- Shell Pension Plan (TX) $15.1B · 12,215
- Nokia Retirement Income Plan (NJ) $13.9B · 7,492
Similar participant headcount
Nearest other-state filings by covered participants (45,818 participants); asset peers above are excluded.
- Southwest Carpenters Pension Trust (CA) 45,891 · 73 off
- Target Corporation Pension Plan (MN) 45,724 · 94 off
- Ernst & Young Defined Benefit Retirement Plan (NJ) 45,954 · 136 off
- State Farm Insurance Companies Retirement Plan for United States Employees (IL) 45,001 · 817 off
DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.