Fulton Financial Corporation 401(k) Review & Grade
Fulton Financial Corporation 401(k) Retirement Plan
Lancaster, PAFinance & Insurance3,412 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,026Employer $ per active participant
$7,103Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$569.1MNet plan assets, end of year
$127,510Average balance per account
Score breakdown
- Employer generosity22.2 / 5044th percentile for employer $ per participant
- Low cost20.5 / 2582th percentile for low admin cost vs. same-size plans
- Employee saving4.9 / 1533th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score48 / 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 | 44th |
| Lower admin cost | 82th |
| Employee saving | 33th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($7,914 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Fulton Financial put in about $4,026 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.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $13,739,706 |
| Participant (employee) contributions | $24,240,250 |
| Other contributions (incl. rollovers in) | $2,926,989 |
| Administrative expenses paid from the plan | $231,383 |
| Other admin expenses | $191,201 |
| Benefits paid out | $56,052,889 |
| Net assets, start / end of year | $505.2M / $569.1M |
| Active participants, start / end of year | 3,461 / 3,364 |
| Participants with account balances | 4,463 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdo USA, P.C. |
| Employer stock held by plan | $22,084,006 |
Largest service providers (Schedule C)
| Fulton Bank, N.A. | $191,202 reported compensation |
| Bdo USA, LLP | $35,215 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250701144808NAL0012786417001, received 2025-07-01, EIN 23-2195389, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.