F.N.B. Corporation 401(k) Review & Grade
F.N.B. Corporation Progress Savings 401(k) Plan
Hermitage, PAFinance & Insurance4,238 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,375Employer $ per active participant
$7,029Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$531.5MNet plan assets, end of year
$83,392Average balance per account
Score breakdown
- Employer generosity24.5 / 5049th percentile for employer $ per participant
- Low cost23.7 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving4.7 / 1531th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score53 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 49th |
| Lower admin cost | 95th |
| Employee saving | 31th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Prohibited transactions: the plan reported non-exempt transactions with a party in interest.
What to do if you're in this plan
- F.N.B. put in about $4,375 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.
- 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 | $18,538,556 |
| Participant (employee) contributions | $29,785,036 |
| Other contributions (incl. rollovers in) | $6,391,536 |
| Administrative expenses paid from the plan | $91,458 |
| Contract administrator fees | $1,800 |
| Investment advisory & management fees | $27,783 |
| Other admin expenses | $61,875 |
| Benefits paid out | $47,749,025 |
| Net assets, start / end of year | $461.2M / $531.5M |
| Active participants, start / end of year | 4,181 / 4,294 |
| Participants with account balances | 6,373 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Ernst Young LLP |
| Employer stock held by plan | $119,355,214 |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $27,783 reported compensation |
| Fidelity Investments Institutional | −$1,250,687 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250715080905NAL0004183618001, received 2025-07-15, EIN 25-1255406, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.