Zions Bancorporation, National Association 401(k) Review & Grade
Zions Bancorporation, N.A. Payshelter 401k and Employee Stock Ownership Plan
Salt Lake City, UTFinance & Insurance10,245 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$5,011Employer $ per active participant
$7,488Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$1.9BNet plan assets, end of year
$145,189Average balance per account
Score breakdown
- Employer generosity23.2 / 5046th percentile for employer $ per participant
- Low cost18.3 / 2573th percentile for low admin cost vs. same-size plans
- Employee saving3.2 / 1521th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score45 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 73th |
| Employee saving | 21th |
| Peers that auto-enroll | 74% |
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Red flags from the filing
Corrective distributions: the plan refunded $39,789 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Zions Bancorporation, National Association put in about $5,011 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.
- 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 | $51,336,852 |
| Participant (employee) contributions | $76,716,572 |
| Other contributions (incl. rollovers in) | $8,997,446 |
| Administrative expenses paid from the plan | $829,495 |
| Contract administrator fees | $7,500 |
| Investment advisory & management fees | $299,966 |
| Benefits paid out | $197,797,921 |
| Net assets, start / end of year | $1.7B / $1.9B |
| Active participants, start / end of year | 9,972 / 10,518 |
| Participants with account balances | 12,987 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst & Young LLP |
| Employer stock held by plan | $356,902,640 |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $528,222 reported compensation |
| Strategic Advisors, Inc. | $299,966 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251003165214NAL0003875602001, received 2025-10-03, EIN 87-0189025, plan #006, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.