RBC USA Holdco Corporation 401(k) Review & Grade
RBC- U.S.A. Retirement and Savings Plan
Minneapolis, MNFinance & Insurance10,518 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,768Employer $ per active participant
$16,857Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$4.3BNet plan assets, end of year
$301,336Average balance per account
Score breakdown
- Employer generosity31.0 / 5062th percentile for employer $ per participant
- Low cost24.2 / 2597th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1597th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score77 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 62th |
| Lower admin cost | 97th |
| Employee saving | 97th |
| Peers that auto-enroll | 74% |
Red flags from the filing
Corrective distributions: the plan refunded $393,850 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- RBC USA Holdco put in about $6,768 per active participant, more than the typical peer ($5,179). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 | $71,184,857 |
| Participant (employee) contributions | $177,310,972 |
| Other contributions (incl. rollovers in) | $41,534,340 |
| Administrative expenses paid from the plan | $312,239 |
| Other admin expenses | $312,239 |
| Benefits paid out | $326,913,702 |
| Net assets, start / end of year | $3.7B / $4.3B |
| Active participants, start / end of year | 10,926 / 10,111 |
| Participants with account balances | 14,265 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Olsen Thielen & Co., LTD |
| Employer stock held by plan | $427,136,729 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $328,712 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250721094332NAL0000559907001, received 2025-07-21, EIN 20-0563684, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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