United Bankshares, Inc. 401(k) Review & Grade
United Bankshares, Inc. Savings and Stock Investment Plan
Parkersburg, WVFinance & Insurance2,600 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,864Employer $ per active participant
$4,820Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$248.7MNet plan assets, end of year
$93,082Average balance per account
Score breakdown
- Employer generosity12.4 / 5025th percentile for employer $ per participant
- Low cost12.2 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 1510th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 25th |
| Lower admin cost | 49th |
| Employee saving | 10th |
| 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
- United Bankshares put in about $2,864 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 | $7,449,002 |
| Participant (employee) contributions | $12,533,985 |
| Other contributions (incl. rollovers in) | $1,183,272 |
| Administrative expenses paid from the plan | $298,999 |
| Investment advisory & management fees | $116,124 |
| Benefits paid out | $25,698,058 |
| Net assets, start / end of year | $227.9M / $248.7M |
| Active participants, start / end of year | 2,561 / 2,640 |
| Participants with account balances | 2,672 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ernst & Young |
| Employer stock held by plan | $64,009,949 |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $182,890 reported compensation |
| Capfinancial Partners LLC DBA Captr | $96,730 reported compensation |
| Empower Advisory Group, LLC | $19,394 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250630151123NAL0011320305001, received 2025-06-30, EIN 55-0641179, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.