Flagstar Financial 401(k) match, vesting and fees
What Flagstar Financial's 401(k) plan says about matching contributions
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Recordkeeper | Empower Life & Annuity Insurance Co | Schedule C ↗ |
| Independent auditor | KPMG LLP (unmodified opinion) | Schedule H ↗ |
| Plan type and status | 401(k) · Active | Form 5500 ↗ |
| Late participant contributions | Reported on the filing | Schedule H ↗ |
How the plan compares
Plan year 2024 medians for 118 defined-contribution plans in finance and insurance with 5,000 to 9,999 participants.
| Flagstar Financial: employer contribution per participant | $2,699 | |
| Peer median | $3,354 |
| Flagstar Financial: average balance | $93,859 | |
| Peer median | $126,365 |
| Flagstar Financial: admin expenses ÷ assets | 0.08% | |
| Peer median | 0.06% |
Admin expenses are the plan's reported administrative expenses divided by its assets; they do not include fund expense ratios.
Plan history
Plan assets went from $545M at the end of plan year 2023 to $918M at the end of plan year 2024.
| Plan year | Participants | Assets | Employer contributions | Per participant | Admin expense ratio | Match formula | Filing |
|---|---|---|---|---|---|---|---|
| 2024 | 19,816 | $918M | $26.4M | $2,699 | 0.08% | Not published | Form 5500 ↗ |
| 2023 | 5,531 | $545M | $9.6M | $2,879 | 0.12% | Not published | Form 5500 ↗ |
Other Flagstar Financial plans (1)
Each plan files its own Form 5500. Figures are from each plan's latest filing.
The Retirement Plan of Flagstar Bank, National Association
Plan features
Match, vesting and enrollment details have not been published from this plan's audit report yet. The figures below come from the structured filing.
| Independent auditor | Baker Tilly US, LLP (unmodified opinion, limited scope) | Schedule H ↗ |
| Plan type and status | Pension (defined benefit) · Frozen | Form 5500 ↗ |
Common questions
Does Flagstar Financial match 401(k) contributions?
The match terms for the Flagstar Financial, Inc. Employee Savings Plan have not been published from its filing yet. The plan year 2024 filing reports $26.4M in employer contributions, about $2,699 per participant. That total includes any match and profit-sharing; it is not a match formula.
When is the Flagstar Financial 401(k) match vested?
The vesting schedule for the Flagstar Financial, Inc. Employee Savings Plan is not in the data published so far. Your Summary Plan Description states it.
Who manages the Flagstar Financial 401(k)?
The recordkeeper listed on Schedule C of the plan year 2024 filing is Empower Life & Annuity Insurance Co. The plan administrator is Pentegra Services Inc..
I left Flagstar Financial. How do I find my old 401(k)?
Your account stays in the plan until you move it. Contact the plan administrator (Pentegra Services Inc., (844) 367-2848) or the recordkeeper, Empower Life & Annuity Insurance Co. The Flagstar Financial old 401(k) page lists the contacts from every plan filing. Find an old Flagstar Financial 401(k)
Data from the public Form 5500 annual reports Flagstar Financial filed with the U.S. Department of Labor (plan years 2023 and 2024) and, where noted, the attached independent auditor's report. Plan terms may have changed since the filing; check your current Summary Plan Description. PlanFacts is not affiliated with Flagstar Financial. Not financial advice. Report a correction · Methodology