Wesbanco, Inc. 401(k) Review & Grade
Wesbanco, Inc. 401(k) Plan
Wheeling, WVFinance & Insurance2,522 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,650Employer $ per active participant
$5,295Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$238.1MNet plan assets, end of year
$88,919Average balance per account
Score breakdown
- Employer generosity10.4 / 5021th percentile for employer $ per participant
- Low cost14.7 / 2559th percentile for low admin cost vs. same-size plans
- Employee saving2.0 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score30 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 21th |
| Lower admin cost | 59th |
| Employee saving | 13th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Wesbanco put in about $2,650 per active participant, below the typical peer ($4,489). 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.
- 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 | $6,685,561 |
| Participant (employee) contributions | $13,357,535 |
| Other contributions (incl. rollovers in) | $2,100,813 |
| Administrative expenses paid from the plan | $212,991 |
| Investment advisory & management fees | $88,811 |
| Benefits paid out | $25,412,711 |
| Net assets, start / end of year | $212.1M / $238.1M |
| Active participants, start / end of year | 2,598 / 2,447 |
| Participants with account balances | 2,678 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst and Young LLP |
| Employer stock held by plan | $14,135,489 |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $175,879 reported compensation |
| PNC Bank NA | $52,000 reported compensation |
| Empower Advisory Group, LLC | $18,495 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250731093345NAL0002477811001, received 2025-07-31, EIN 55-0571723, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.