Huntington Bancshares Incorporated 401(k) Review & Grade
The Huntington 401(k) Plan
Columbus, OHFinance & Insurance20,038 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,037Employer $ per active participant
$7,740Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$2.4BNet plan assets, end of year
$95,463Average balance per account
Score breakdown
- Employer generosity9.2 / 5018th percentile for employer $ per participant
- Low cost15.1 / 2560th percentile for low admin cost vs. same-size plans
- Employee saving3.8 / 1525th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 18th |
| Lower admin cost | 60th |
| Employee saving | 25th |
| Peers that auto-enroll | 74% |
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Red flags from the filing
Corrective distributions: the plan refunded $37,832 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Huntington Bancshares Incorporated put in about $3,037 per active participant, below the typical peer ($5,179). 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 | $60,861,214 |
| Participant (employee) contributions | $155,087,282 |
| Other contributions (incl. rollovers in) | $35,400,127 |
| Administrative expenses paid from the plan | $1,458,615 |
| Contract administrator fees | $755,155 |
| Investment advisory & management fees | $611,274 |
| Benefits paid out | $224,386,016 |
| Net assets, start / end of year | $2.0B / $2.4B |
| Active participants, start / end of year | 19,626 / 20,450 |
| Participants with account balances | 24,860 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ary Roepcke Mulchaey, P.C. |
| Employer stock held by plan | $177,505,684 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $755,155 reported compensation |
| Strategic Advisors, Inc. | $408,111 reported compensation |
| Mercer Investments LLC | $135,663 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250626123904NAL0004982451001, received 2025-06-26, EIN 31-0724920, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.