Grand Canyon University 401(k) Review & Grade
Grand Canyon University Employees 401(k) Plan
Phoenix, AZEducational Services7,773 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$281Employer $ per active participant
$2,703Employee $ saved per active participant
0.31%Direct admin cost, % of plan assets
$158.3MNet plan assets, end of year
$18,392Average balance per account
Score breakdown
- Employer generosity4.5 / 509th percentile for employer $ per participant
- Low cost5.4 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving5.0 / 1533th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Educational Services plans with 2,500–9,999 active participants (34 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 9th |
| Lower admin cost | 22th |
| Employee saving | 33th |
| Peers that auto-enroll | 65% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $41,603 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Grand Canyon University put in about $281 per active participant, below the typical peer ($1,155). 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 (0.31% 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 | $2,183,471 |
| Participant (employee) contributions | $21,011,203 |
| Other contributions (incl. rollovers in) | $1,499,175 |
| Administrative expenses paid from the plan | $447,789 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $38,500 |
| Benefits paid out | $11,837,233 |
| Net assets, start / end of year | $128.4M / $158.3M |
| Active participants, start / end of year | 7,325 / 8,221 |
| Participants with account balances | 8,606 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $409,289 reported compensation |
| Sageview Advisory Group LLC | $38,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015202145NAL0007264560001, received 2025-10-15, EIN 47-2507725, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.