Affirm, Inc. 401(k) Review & Grade
Affirm, Inc. 401(k) Plan
San Francisco, CAFinance & Insurance1,620 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$0Employer $ per active participant
$10,066Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$149.6MNet plan assets, end of year
$62,253Average balance per account
Score breakdown
- Employer generosity0.0 / 500th percentile for employer $ per participant
- Low cost24.4 / 2598th percentile for low admin cost vs. same-size plans
- Employee saving11.4 / 1576th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score33 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 0th |
| Lower admin cost | 98th |
| Employee saving | 76th |
| Peers that auto-enroll | 62% |
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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 ($1,814 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $10,706 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- This plan reported $0 in employer contributions for 2024. Some employers put their money into a separate plan, so check any other plans listed below and ask HR. If there really is no company money, you still get the tax break. Compare the plan's fees and funds with an IRA before deciding where your next dollar goes.
- 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 | $0 |
| Participant (employee) contributions | $16,311,498 |
| Other contributions (incl. rollovers in) | $3,841,652 |
| Administrative expenses paid from the plan | $14,032 |
| Investment advisory & management fees | $9,038 |
| Benefits paid out | $5,802,807 |
| Net assets, start / end of year | $121.9M / $149.6M |
| Active participants, start / end of year | 1,670 / 1,571 |
| Participants with account balances | 2,403 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Windes, Inc. |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $9,038 reported compensation |
| Fidelity Investments Institutional | −$11,791 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260707115417NAL0016236051001, received 2026-07-07, EIN 45-5413534, plan #002, plan year 2024-01-01 to 2024-06-30. Verify at efast.dol.gov.