Pinnacle Bank 401(k) Review & Grade
Pinnacle Financial Partners, Inc. 401(k) Plan
Nashville, TNFinance & Insurance3,510 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,626Employer $ per active participant
$9,233Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$564.6MNet plan assets, end of year
$150,709Average balance per account
Score breakdown
- Employer generosity26.3 / 5053th percentile for employer $ per participant
- Low cost24.4 / 2598th percentile for low admin cost vs. same-size plans
- Employee saving8.6 / 1558th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score59 / 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 | 53th |
| Lower admin cost | 98th |
| Employee saving | 58th |
| Peers that auto-enroll | 66% |
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Red flags from the filing
Corrective distributions: the plan refunded $5,802 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Pinnacle Bank put in about $4,626 per active participant, more than the typical peer ($4,489). 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.
- 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 | $16,234,740 |
| Participant (employee) contributions | $32,404,533 |
| Other contributions (incl. rollovers in) | $7,002,951 |
| Administrative expenses paid from the plan | $51,454 |
| Benefits paid out | $40,157,393 |
| Net assets, start / end of year | $462.8M / $564.6M |
| Active participants, start / end of year | 3,407 / 3,612 |
| Participants with account balances | 3,746 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Lbmc, PC |
| Employer stock held by plan | $114,527,421 |
Largest service providers (Schedule C)
| Capital Group Retirement Plan Svcs. | $51,454 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250723123601NAL0005344272001, received 2025-07-23, EIN 62-1829917, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.