Axon Enterprise, Inc. 401(k) Review & Grade
Axon 401(k) Plan
Scottsdale, AZManufacturing2,910 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$5,418Employer $ per active participant
$10,355Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$228.6MNet plan assets, end of year
$63,788Average balance per account
Score breakdown
- Employer generosity36.3 / 5073th percentile for employer $ per participant
- Low cost7.1 / 2528th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1583th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score63 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 73th |
| Lower admin cost | 28th |
| Employee saving | 83th |
| Peers that auto-enroll | 70% |
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Red flags from the filing
Corrective distributions: the plan refunded $6,905 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Axon Enterprise put in about $5,418 per active participant, more than the typical peer ($3,452). 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.
- Direct plan expenses (0.25% of assets) are well above similar-size plans (0.12%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $15,764,960 |
| Participant (employee) contributions | $30,133,076 |
| Other contributions (incl. rollovers in) | $9,266,081 |
| Administrative expenses paid from the plan | $478,753 |
| Investment advisory & management fees | $195,248 |
| Benefits paid out | $17,063,329 |
| Net assets, start / end of year | $161.2M / $228.6M |
| Active participants, start / end of year | 2,614 / 3,206 |
| Participants with account balances | 3,584 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $283,505 reported compensation |
| Empower Advisory Group, LLC | $159,249 reported compensation |
| Mma Securities LLC | $35,999 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250902145310NAL0029860178001, received 2025-09-02, EIN 86-0741227, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.