Axcess Financial Services, Inc. 401(k) Review & Grade
The Axcess Financial 401k Plan
Cincinnati, OHFinance & Insurance942 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,862Employer $ per active participant
$3,676Employee $ saved per active participant
0.41%Direct admin cost, % of plan assets
$51.8MNet plan assets, end of year
$44,213Average balance per account
Score breakdown
- Employer generosity9.8 / 5020th percentile for employer $ per participant
- Low cost7.3 / 2529th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 1510th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 20th |
| Lower admin cost | 29th |
| Employee saving | 10th |
| Peers that auto-enroll | 62% |
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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
- Axcess Financial Services put in about $1,862 per active participant, below the typical peer ($3,606). 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.
- Direct plan expenses (0.41% of assets) are well above similar-size plans (0.23%). 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 | $1,753,365 |
| Participant (employee) contributions | $3,461,103 |
| Other contributions (incl. rollovers in) | $157,899 |
| Administrative expenses paid from the plan | $202,660 |
| Investment advisory & management fees | $22,500 |
| Other admin expenses | $22,633 |
| Benefits paid out | $6,820,399 |
| Net assets, start / end of year | $46.0M / $51.8M |
| Active participants, start / end of year | 774 / 1,109 |
| Participants with account balances | 1,172 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Clark Schaefer Hackett & Co. |
Largest service providers (Schedule C)
| T Rowe Price RPS Inc | $157,527 reported compensation |
| Usi Advisors Inc | $45,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013101641NAL0002448002001, received 2025-10-13, EIN 31-1485652, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.