Retirement plan

AXOS FINANCIAL, INC. 401(K) PLAN

Name: AXOS FINANCIAL, INC. - AXOS FINANCIAL, INC. 401(K) PLAN (2023) Form 5500
Creator: AXOS FINANCIAL, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, AXOS FINANCIAL, INC. 401(K) PLAN, AXOS FINANCIAL, INC.

AXOS FINANCIAL, INC.EIN 33-0867444Plan #001PY 2023

9205 WEST RUSSELL ROAD, SUITE 400 - LAS VEGAS, NV 89148858-649-2000axosfinancial.comLinkedIn501-1000 employeesbanking

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$92.9M

+42.5% from 2022

Total participants

2,126

+13.3% from 2022

Average account balance

$45,901

+31.5% from 2022

Annual return

29.57%

+46.01 pp from 2022

Benchmarks

See 577 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort577 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$127.34M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$55K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

2,301

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

91.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$18.07M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+27.44%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$105

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290	Contract Administrator	$175,559
CAMBRIDGE INVESTMENT RESEARCH4 years Filed as: CAMBRIDGE INVESTMENT RESEARCH ADVIS Service code 27 · EIN 20-1665305	Advisory (Plan)	$42,500
CAMBRIDGE INVESTMENT RESEARCH9+ years Filed as: CAMBRIDGE INVESTMENT RESEARCH INC Service code 27	Advisory (Plan)	$42,500
ASCENSUS LLC3 years Filed as: ASCENSUS Service code 49 · EIN 82-3719843	Other Services	$23,933
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 28 · EIN 36-4317381	Investment Management	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$174K

$115 / participant

Contract admin$174K100.0%

% of EOY assets

0.187%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CBIZ CPAS, P.C.
Auditor EIN: 431947695
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$45,901

$112,686-59.3%

$170,043-73.0%

$80,157-42.7%

Participation rate

93.3%

87.4%+5.9pp

87.0%+6.3pp

72.9%+20.3pp

Annual return

29.57%

67.04%-37.5pp

53.40%-23.8pp

40.39%-10.8pp

Employer contribution / active EE

$2,619

$4,481-41.6%

$6,790-61.4%

$2,977-12.0%

Participant deferral / active EE

$7,556

$7,876-4.1%

$10,410-27.4%

$5,015+50.7%

Admin fee / account holder

$86

$99-13.4%

$12,824-99.3%

$145-40.8%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY9+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$175,559

CAMBRIDGE INVESTMENT RESEARCH4 years

Filed as: CAMBRIDGE INVESTMENT RESEARCH ADVIS

Service code 27 · EIN 20-1665305

Advisory (Plan)

$42,500

CAMBRIDGE INVESTMENT RESEARCH9+ years

Filed as: CAMBRIDGE INVESTMENT RESEARCH INC

Service code 27

Advisory (Plan)

$42,500

ASCENSUS LLC3 years

Filed as: ASCENSUS

Service code 49 · EIN 82-3719843

Other Services

$23,933

MORNINGSTAR1 year

Filed as: MORNINGSTAR INVESTMENT MANAGEMENT

Service code 28 · EIN 36-4317381

Investment Management

AXOS FINANCIAL, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

AXOS FINANCIAL, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion