The University of Phoenix, Inc. 401(k) Review & Grade
The University of Phoenix, Inc. Savings and Investment Plan
Phoenix, AZEducational Services5,895 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,081Employer $ per active participant
$4,355Employee $ saved per active participant
0.08%Direct admin cost, % of plan assets
$586.0MNet plan assets, end of year
$74,922Average balance per account
Score breakdown
- Employer generosity21.2 / 5042th percentile for employer $ per participant
- Low cost15.8 / 2563th percentile for low admin cost vs. same-size plans
- Employee saving10.0 / 1567th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Educational Services plans with 2,500–9,999 active participants (34 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 42th |
| Lower admin cost | 63th |
| Employee saving | 67th |
| Peers that auto-enroll | 65% |
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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 ($1,659 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $647 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- University of Phoenix put in about $1,081 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.
- 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $6,370,885 |
| Participant (employee) contributions | $25,670,625 |
| Other contributions (incl. rollovers in) | $1,499,978 |
| Administrative expenses paid from the plan | $459,862 |
| Investment advisory & management fees | $110,652 |
| Other admin expenses | $86,949 |
| Benefits paid out | $47,477,797 |
| Net assets, start / end of year | $534.2M / $586.0M |
| Active participants, start / end of year | 5,686 / 6,104 |
| Participants with account balances | 7,822 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cbiz Cpas P.C. |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $234,961 reported compensation |
| Alliant Insurance Services Inc DBA | $90,000 reported compensation |
| Cbiz Operations Inc DBA Cbiz MHM LL | $27,300 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250912133956NAL0001351057001, received 2025-09-12, EIN 94-2473210, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.