Axis Specialty U.S. Services, Inc. 401(k) Review & Grade
Axis Specialty U.S. Services, Inc. 401(k) Plan
New York, NYFinance & Insurance994 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$16,258Employer $ per active participant
$14,247Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$401.7MNet plan assets, end of year
$276,434Average balance per account
Score breakdown
- Employer generosity48.9 / 5098th percentile for employer $ per participant
- Low cost23.7 / 2595th percentile for low admin cost vs. same-size plans
- Employee saving13.3 / 1589th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score86 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 98th |
| Lower admin cost | 95th |
| Employee saving | 89th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $10,521 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Axis Specialty U.S. Services put in about $16,258 per active participant, more than the typical peer ($3,606). 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 | $16,152,620 |
| Participant (employee) contributions | $14,154,740 |
| Other contributions (incl. rollovers in) | $4,682,372 |
| Administrative expenses paid from the plan | $85,268 |
| Investment advisory & management fees | $40,891 |
| Benefits paid out | $52,138,545 |
| Net assets, start / end of year | $357.8M / $401.7M |
| Active participants, start / end of year | 1,059 / 928 |
| Participants with account balances | 1,453 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $44,377 reported compensation |
| Strategic Advisors, Inc. | $40,891 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010084523NAL0007822017001, received 2025-10-10, EIN 41-2030082, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.