Defined Benefit (Pension) · DOL Form 5500 · 2024

Truist Financial Corporation Pension Plan

Data updated 2026-08-25

$14.7B
Total assets Mega-plan scale
38,548
Participants Very large workforce
100th
Percentile by assets National rank
$381,308
Avg per participant High balance/head
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Official DOL plan name: Truist Financial Corporation Pension Plan · Sponsored by Truist Financial Corporation · North Carolina · Finance & Insurance

$14.7B in assets, 38,548 participants

Truist Financial Corporation's Truist Financial Corporation Pension Plan reported $14.7B in total assets and 38,548 participants in its 2024 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.

  • #8,541 in Finance & Insurance (8,549 peers)

Coverage in North Carolina

Truist Financial Corporation Pension Plan covers 38,548 participants in North Carolina, 47x the typical North Carolina plan (state average ~819 per filing). Assets: $14.7B.

#8,541
in Finance & Insurance (8,549 peers)
+0.8%
assets growth YoY
147×
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 2024 · DOL Form 5500

$14,698,665,729 Highest reported value at or above every one of 123,620 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 2024

Truist Financial Corporation Pension Plan's mega-plan peer group by participant headcount

Plan-year 2024 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Truist Financial Corporation Pension Plan is a mega filing (38,548 participants), the rightmost band on the breakdown.

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Truist Financial Corporation Pension Plan reported net income fell from $2.1B in the plan year 2023 filing to $123M in the plan year 2024 filing.
  • Truist Financial Corporation Pension Plan reported participants fell from 45,818 in the plan year 2023 filing to 38,548 in the plan year 2024 filing.
  • Truist Financial Corporation Pension Plan end-of-year assets rose from $14.6B in the plan year 2023 filing to $14.7B in the plan year 2024 filing.

See the national 2023→2024 release diff →

DOL schedule card

Filing strip 560939887 · Truist Financial Corporation PY 2024 · Defined Benefit (Pension)

Truist Financial Corporation Pension Plan · $14.7B · 38,548 · 100th

  • TYPE $14.7B
  • TYPE 38,548
  • TYPE 100th
  • TYPE Defined Benefit (Pension)
  • TYPE near Iam National Pension Fund
  • TYPE ind #8541

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

Consolidated Edison Retirement PlanConsolidated Edison Retireme…$15.6BThe Boeing Company Employee Retirement PlanThe Boeing Company Employee …$15.4BThe Southern Company Pension PlanThe Southern Company Pension…$15.3BIam National Pension Fund$15.0BTruist Financial Corporation Pension PlanTruist Financial Corporation…$14.7B
End-of-year total assets ($B) among Truist Financial Corporation Pension Plan and nearest nationwide Defined Benefit (Pension) peers. Source: DOL Form 5500 plan year 2024.

North Carolina filing particulars

Total Assets (Beginning of Year)$14.6B
Net Assets (End of Year)$14.7B
Net Income$123M
Employer EIN560939887
Plan Effective Date1944-10-01
Filing StatusFILING 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
$21B$22B$23B$24B$25B$26B 202220232024 $21.4B $23.9B ▲ +11.7%
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.

Truist Financial Corporation Pension Plan vs. nearby Defined Benefit (Pension) plans in North Carolina, assets vs. participants Scatter plot of 6 data points. -1000001000020000300004000050000 05101520 Total assets ($B) Participants Truist Financial Corporation Pension Plan, Total assets ($B): 14.698665729 · Participants: 38548Truist Financial Corporation Pension PlanHoneywell Retirement Earnings Plan, Total assets ($B): 16.577892612 · Participants: 9923Honeywell Retirement Earnings PlanDuke Energy Retirement Cash Balance Plan, Total assets ($B): 4.678 · Participants: 13576Duke Energy Retirement Cash Balance PlanEmployees' Retirement Plan of Duke University, Total assets ($B): 2.784844379 · Participants: 22655Employees' Retirement Plan of Duke UniversityThe Hearst Corporation Retirement Plan, Total assets ($B): 2.397551709 · Participants: 1745The Hearst Corporation Retirement PlanDuke Energy Legacy Pension Plan, Total assets ($B): 2.35 · Participants: 300Duke Energy Legacy Pension Plan
Truist Financial Corporation Pension Plan vs. nearby Defined Benefit (Pension) plans in North Carolina, assets vs. participants
Compare Truist Financial Corporation Pension Plan side-by-side with 3 peers →

Scale composition for Truist Financial Corporation Pension Plan

Truist Financial Corporation Pension Plan reports $14.7B in end-of-year assets across 38,548 participants (0.12% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.041% of 93,925,755 covered participants) - about $381,308 per participant (2.8x the national average assets-per-participant) . Net income for plan year 2024 was $123M.

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 Open filing
2024 · index core 38,548 $14.7B This page

The same sponsor also keeps 1 other index-core plan on PlainRetire:

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 ($15.0B); by covered participants it is Rocky Mountain Ufcw Unions and Employers Retail and Meat Pension Plan in CO (38,340 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($14.7B here).

Similar participant headcount

Nearest other-state filings by covered participants (38,548 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Truist Financial Corporation Pension Plan assets move in 2024? ▼
Truist Financial Corporation Pension Plan held essentially flat - up 0.8% during 2024, from $14.6B to $14.7B. Reported net income was $123M.
How have Truist Financial Corporation plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Truist Financial Corporation's sponsor-wide assets grew 11.7%, from $21.4B to $23.9B.
Where does Truist Financial Corporation Pension Plan rank by assets among Form 5500 filers? ▼
Truist Financial Corporation Pension Plan ranks in the 100th percentile by end-of-year assets among 123,622 plans that reported assets for plan year 2024 (among the largest 1% of all filed plans).
Which Defined Benefit (Pension) plans are similar in size to Truist Financial Corporation Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by assets is Iam National Pension Fund in DC ($15.0B, 102,493 participants).
Which Defined Benefit (Pension) plans cover a similar participant headcount to Truist Financial Corporation Pension Plan? ▼
Among Defined Benefit (Pension) plans in other states, the closest by covered participants is Rocky Mountain Ufcw Unions and Employers Retail and Meat Pension Plan in CO (38,340 participants, $1.3B in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 560939887.

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.