Flagstar Financial, Inc. 401(k) Review & Grade
Flagstar Financial, Inc. Employee Savings Plan
Hicksville, NYFinance & Insurance6,424 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$4,109Employer $ per active participant
$10,114Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$917.8MNet plan assets, end of year
$93,859Average balance per account
Score breakdown
- Employer generosity22.7 / 5045th percentile for employer $ per participant
- Low cost16.3 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving10.5 / 1570th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 2,500–9,999 active participants (199 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 45th |
| Lower admin cost | 65th |
| Employee saving | 70th |
| Peers that auto-enroll | 66% |
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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 ($4,778 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Flagstar Financial put in about $4,109 per active participant, below the typical peer ($4,489). 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.
- 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 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 | $26,392,709 |
| Participant (employee) contributions | $64,964,347 |
| Other contributions (incl. rollovers in) | $16,173,037 |
| Administrative expenses paid from the plan | $570,125 |
| Investment advisory & management fees | $98,000 |
| Benefits paid out | $171,924,059 |
| Net assets, start / end of year | $544.9M / $917.8M |
| Active participants, start / end of year | 4,956 / 7,891 |
| Participants with account balances | 9,778 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | KPMG LLP |
| Employer stock held by plan | $45,756,216 |
Largest service providers (Schedule C)
| Empower Life & Annuity Insurance Co | $415,956 reported compensation |
| Capfinancial Partners LLC DBA Captr | $98,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250721104900NAL0001346129001, received 2025-07-21, EIN 06-1377322, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.