Defined Benefit (Pension) · DOL Form 5500 · 2023

U.S. Bancorp Pension Plan

Data updated 2026-08-25

$4.0B
Total assets Very large vs avg
56,287
Participants Very large workforce
100th
Percentile by assets National rank
$70,523
Avg per participant Below avg balance/head
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Official DOL plan name: U.S. Bank Pension Plan · Sponsored by U.S. Bancorp · Minnesota · Finance & Insurance

$4.0B in assets, 56,287 participants

U.S. Bancorp's U.S. Bank Pension Plan reported $4.0B in total assets and 56,287 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.

  • #8,803 in Finance & Insurance (8,869 peers)

Coverage in Minnesota

U.S. Bank Pension Plan covers 56,287 participants in Minnesota, 50x the typical Minnesota plan (state average ~1,126 per filing). Assets: $4.0B.

#8,803
in Finance & Insurance (8,869 peers)
+6.2%
assets growth YoY
40×
vs typical plan assets (national mean)

U.S. Bank Pension Plan's outsized position by total assets

U.S. Bank Pension Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$3,969,502,742 Highest reported value at or above every one of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

U.S. Bank 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. U.S. Bank Pension Plan is a mega filing (56,287 participants), the rightmost band on the breakdown.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • U.S. Bank Pension Plan reported net income rose from -$788M in the plan year 2022 filing to $230M in the plan year 2023 filing.
  • U.S. Bank Pension Plan end-of-year assets rose from $3.7B in the plan year 2022 filing to $4.0B in the plan year 2023 filing.
  • U.S. Bank Pension Plan reported participants rose from 55,836 in the plan year 2022 filing to 56,287 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Plan-year Form 5500 strip

Filing strip 410255900 · U.S. Bancorp PY 2023 · Defined Benefit (Pension)

U.S. Bank Pension Plan · $4.0B · 56,287 · 100th

  • VS-ST $4.0B
  • VS-ST 56,287
  • VS-ST 100th
  • VS-ST Defined Benefit (Pension)
  • VS-ST near Llns Defined Benefit Pension Plan
  • VS-ST ind #8803

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 Minnesota →

U.S. Bank Pension Plan in the asset neighbourhood

Abbott - Abbvie Multiple Employer Pension PlanAbbott - Abbvie Multiple Emp…$4.0BDuke Energy Retirement Cash Balance PlanDuke Energy Retirement Cash …$4.0BU.S. Bank Pension Plan$4.0BLlns Defined Benefit Pension PlanLlns Defined Benefit Pension…$3.9BThe Savannah River Nuclear Solutions, LLC Multiple Employer Pension PlanThe Savannah River Nuclear S…$3.9B
End-of-year total assets ($B) among U.S. Bank Pension Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2023.

Minnesota filing particulars

Total Assets (Beginning of Year)$3.7B
Net Assets (End of Year)$4.0B
Net Income$230M
Employer EIN410255900
Plan Effective Date1944-12-15
Filing StatusFILING RECEIVED

Sponsor Plan History (U.S. Bancorp)

Sponsor-wide plan assets over time

All U.S. Bancorp plans reported in each filing year

Latest sponsor-wide plan assets
$19.3B 29.291812626886752% vs 2022
2024 filing year
$14B$16B$18B$20B 202220232024 $14.9B $19.3B ▲ +29.3%
Year Plans Participants Total Assets
2022 3 124,880 $14.9B
2023 4 139,502 $17.2B
2024 3 140,881 $19.3B

Nearby Defined Benefit (Pension) Plans in Minnesota

Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.

U.S. Bank Pension Plan vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 051015 Total assets ($B) Participants U.S. Bank Pension Plan, Total assets ($B): 3.969502742 · Participants: 56287U.S. Bank Pension Plan3M Employee Retirement Income Plan, Total assets ($B): 14.281991028 · Participants: 106383M Employee Retirement Income PlanMayo Pension Plan, Total assets ($B): 11.032936702 · Participants: 69155Mayo Pension PlanThe Travelers Pension Plan, Total assets ($B): 4.150985971 · Participants: 24884The Travelers Pension PlanGeneral Mills Pension Plan I, Total assets ($B): 3.991064596 · Participants: 383General Mills Pension Plan ITarget Corporation Pension Plan, Total assets ($B): 3.549954347 · Participants: 45724Target Corporation Pension Plan
U.S. Bank Pension Plan vs. nearby Defined Benefit (Pension) plans in Minnesota, assets vs. participants
Compare U.S. Bank Pension Plan side-by-side with 3 peers →

Scale composition for U.S. Bank Pension Plan

U.S. Bank Pension Plan reports $4.0B in end-of-year assets across 56,287 participants (0.032% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.060% of 93,925,755 covered participants) - about $70,523 per participant (51% of the national average assets-per-participant) . Net income for plan year 2023 was $230M.

This plan identity (EIN 410255900, plan #001) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $3.7B to $4.4B (+17.2%) while covered participants moved from 55,836 to 62,822 . Single-year sparse filers cannot show that trail.

Plan year Participants EOY assets Filing
2022 55,836 $3.7B Open filing
2023 56,287 $4.0B This page
2024 · index core 62,822 $4.4B Open filing

The same sponsor also keeps 3 other index-core plans on PlainRetire:

U.S. Bank Pension Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount

Outside Minnesota, the nearest Defined Benefit (Pension) by assets is Llns Defined Benefit Pension Plan in CA ($3.9B); by covered participants it is The Bank of America Pension Plan in RI (56,519 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (56,287 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did U.S. Bank Pension Plan assets move in 2023? ▼
U.S. Bank Pension Plan grew at a solid clip - up 6.2% during 2023, from $3.7B to $4.0B. Reported net income was $230M.
How have U.S. Bancorp plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), U.S. Bancorp's sponsor-wide assets grew 29.3%, from $14.9B to $19.3B.
Where does U.S. Bank Pension Plan rank by assets among Form 5500 filers? ▼
U.S. Bank Pension Plan ranks in the 100th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (among the largest 1% of all filed plans).
Which Defined Benefit (Pension) plans are similar in size to U.S. Bank Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is Llns Defined Benefit Pension Plan in CA ($3.9B, 1,440 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to U.S. Bank Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is The Bank of America Pension Plan in RI (56,519 participants, $19.2B in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 410255900.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.