401(k) · DOL Form 5500 · 2023

U.S. Bancorp 401(k) Plan

Data updated 2026-08-25

$10.3B
Total assets Mega-plan scale
75,272
Participants Very large workforce
100th
Percentile by assets National rank
$136,454
Avg per participant Near avg balance/head
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Official DOL plan name: U.S. Bank 401(k) Savings Plan · Sponsored by U.S. Bancorp · Minnesota · Finance & Insurance

$10.3B in assets, 75,272 participants

U.S. Bancorp's U.S. Bank 401(k) Savings Plan reported $10.3B in total assets and 75,272 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.

  • #8,852 in Finance & Insurance (8,869 peers)

Coverage in Minnesota

U.S. Bank 401(k) Savings Plan covers 75,272 participants in Minnesota, 67x the typical Minnesota plan (state average ~1,126 per filing). Assets: $10.3B.

#8,852
in Finance & Insurance (8,869 peers)
+24.3%
assets growth YoY
103×
vs typical plan assets (national mean)

U.S. Bank 401(k) Savings Plan's outsized position by total assets

U.S. Bank 401(k) Savings Plan vs every filed plan by assets

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

$10,271,161,911 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 401(k) Savings 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 401(k) Savings Plan is a mega filing (75,272 participants), the rightmost band on the breakdown.

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • U.S. Bank 401(k) Savings Plan reported net income rose from -$1.6B in the plan year 2022 filing to $2.0B in the plan year 2023 filing.
  • U.S. Bank 401(k) Savings Plan end-of-year assets rose from $8.3B in the plan year 2022 filing to $10.3B in the plan year 2023 filing.
  • U.S. Bank 401(k) Savings Plan reported participants rose from 67,646 in the plan year 2022 filing to 75,272 in the plan year 2023 filing.

See the national 2022→2023 release diff →

EBSA filing schedule strip

Filing strip 410255900 · U.S. Bancorp PY 2023 · 401(k)

U.S. Bank 401(k) Savings Plan · $10.3B · 75,272 · 100th

  • SCH $10.3B
  • SCH 75,272
  • SCH 100th
  • SCH 401(k)
  • SCH near Bristol-Myers Squibb Savings and Investment Program
  • SCH ind #8852

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 401(k) Savings Plan in the asset neighbourhood

American Airlines, Inc. 401(k) Plan for PilotsAmerican Airlines, Inc. 401(…$10.3BBayer Corporation Savings and Retirement PlanBayer Corporation Savings an…$10.3BBristol-Myers Squibb Savings and Investment ProgramBristol-Myers Squibb Savings…$10.3BU.S. Bank 401(k) Savings Plan$10.3BMarriott Retirement Savings PlanMarriott Retirement Savings …$10.2B
End-of-year total assets ($B) among U.S. Bank 401(k) Savings Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Minnesota filing particulars

Total Assets (Beginning of Year)$8.3B
Net Assets (End of Year)$10.3B
Net Income$2.0B
Employer EIN410255900
Plan Effective Date1957-01-01
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 401(k) Plans in Minnesota

Peer 401(k) plans, same state, same plan type, ranked by total assets.

U.S. Bank 401(k) Savings Plan vs. nearby 401(k) plans in Minnesota, assets vs. participants Scatter plot of 6 data points. 0100000200000300000400000500000 510152025 Total assets ($B) Participants U.S. Bank 401(k) Savings Plan, Total assets ($B): 10.271161911 · Participants: 75272U.S. Bank 401(k) Savings PlanUnitedhealth Group 401(k) Savings Plan, Total assets ($B): 22.432100178 · Participants: 198972Unitedhealth Group 401(k) Savings PlanTarget Corporation 401(k) Plan, Total assets ($B): 13.008265857 · Participants: 432617Target Corporation 401(k) PlanMedtronic Savings and Investment Plan, Total assets ($B): 12.931979 · Participants: 44342Medtronic Savings and Investment Plan3M Voluntary Investment Plan and Employee Stock Ownership Plan, Total assets ($B): 12.04661588 · Participants: 360493M Voluntary Investment Plan and Employee Stock Ownership PlanThe Travelers 401(k) Savings Plan, Total assets ($B): 9.215838883 · Participants: 29650The Travelers 401(k) Savings Plan
U.S. Bank 401(k) Savings Plan vs. nearby 401(k) plans in Minnesota, assets vs. participants
Compare U.S. Bank 401(k) Savings Plan side-by-side with 3 peers →

Scale composition for U.S. Bank 401(k) Savings Plan

U.S. Bank 401(k) Savings Plan reports $10.3B in end-of-year assets across 75,272 participants (0.083% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.080% of 93,925,755 covered participants) - about $136,454 per participant (99% of the national average assets-per-participant) . Net income for plan year 2023 was $2.0B.

This plan identity (EIN 410255900, plan #004) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $8.3B to $11.4B (+38.4%) while covered participants moved from 67,646 to 73,109 . Single-year sparse filers cannot show that trail.

Plan year Participants EOY assets Filing
2022 67,646 $8.3B Open filing
2023 75,272 $10.3B This page
2024 · index core 73,109 $11.4B Open filing

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

U.S. Bank 401(k) Savings Plan's out-of-state 401(k) peers by assets and headcount

Outside Minnesota, the nearest 401(k) by assets is Bristol-Myers Squibb Savings and Investment Program in NJ ($10.3B); by covered participants it is Cognizant Technology Solutions 401(k) Savings Plan in NJ (74,792 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($10.3B here).

Similar participant headcount

Nearest other-state filings by covered participants (75,272 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 401(k) Savings Plan assets move in 2023? ▼
U.S. Bank 401(k) Savings Plan grew sharply - up 24.3% during 2023, from $8.3B to $10.3B. Reported net income was $2.0B.
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 401(k) Savings Plan rank by assets among Form 5500 filers? ▼
U.S. Bank 401(k) Savings 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 401(k) plans are similar in size to U.S. Bank 401(k) Savings Plan? ▼
Among 401(k) plans in other states, the closest by assets is Bristol-Myers Squibb Savings and Investment Program in NJ ($10.3B, 22,254 participants).
Which 401(k) plans cover a similar participant headcount to U.S. Bank 401(k) Savings Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Cognizant Technology Solutions 401(k) Savings Plan in NJ (74,792 participants, $2.7B 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.