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Flagstar Financial 401(k) retirement plan: the investment options
Does your 401(k) vote the way you would? $690m of the $1.77bn in the Flagstar Financial plan votes in secret. Fidelity 500 Index Fund, the most common fund in the plans we track, publishes every vote: answer 3 of its ballots, then see your result.
The question on the ballot
As filed
The Flagstar Financial 401(k) holds $1.77bn. Of the $987m we could identify from the plan’s own filing, 69.9% sits in funds that publish no record of how they voted your shares — collective trusts, which unlike a mutual fund file no Form N-PX and leave no public trace of a single vote.
SourceFlagstar Financial’s own annual retirement-plan filing with the SEC (Form 11-K, Schedule of Assets) · open the filing
| What the plan holds | Vehicle | Voting record | Value |
|---|---|---|---|
| Subtotal Collective Trust Funds | Collective trust or separate account | NONE | $554m |
| Subtotal Mutual Funds | Registered fund | PUBLISHED | $297m |
| Fidelitylisted as “GROWTH COMPY COMMINGLED PL” | Collective trust or separate account | NONE | $136m |
| Vanguardlisted as “INSTITUTIONAL INDEX FUND” | Not identified from the filing | Not counted either way | $118m |
| Fidelitylisted as “FREEDOM 2035 CMGLD POOL D” | Not identified from the filing | Not counted either way | $65m |
| Fidelitylisted as “FREEDOM 2030 CMGLD POOL D” | Not identified from the filing | Not counted either way | $56m |
| Fidelitylisted as “FREEDOM 2040 CMGLD POOL D” | Not identified from the filing | Not counted either way | $52m |
| Fidelitylisted as “FREEDOM 2045 CMGLD POOL D” | Not identified from the filing | Not counted either way | $48m |
| Reliance MetLifelisted as “GAC SERIES 25053 CL M” | Not identified from the filing | Not counted either way | $48m |
| Flagstar Financial, Inc.listed as “Common stock” | Employer stock | Voted by the plan trustee | $46m |
| Vanguardlisted as “MID CAP INDEX I” | Not identified from the filing | Not counted either way | $45m |
| Fidelitylisted as “FREEDOM 2050 CMGLD POOL D” | Not identified from the filing | Not counted either way | $41m |
The 12 largest holdings in the plan. “Vehicle” is the description the filing itself gives each investment.
Why there is nothing to show
A mutual fund has to file Form N-PX every year listing every vote it cast on your behalf. A collective investment trust does not. It is a bank-run vehicle sold only inside retirement plans, it is cheaper, and it is now where most 401(k) default money sits — including most target-date funds, which is where savers who never chose anything are put.
So the shares bought with Flagstar Financial employees’ retirement savings are voted every proxy season — on executive pay, on board seats, on climate and workforce proposals — and there is no public document anywhere recording how. This is not an oversight by Flagstar Financial; it is what the disclosure rules currently require, which is to say: nothing.
What you can do
Check whether your plan offers any registered fund as an alternative — those publish their records, and you can read them here. If it does not, the menu itself is the thing that has to change, and that is a decision made by the plan’s fiduciary committee, not by you alone.
See how funds that do publish voted →
CoverageWe classified 61.6% of this plan’s assets from the filing. The figure above is the share of the money we could classify; anything we could not identify is excluded from it rather than assumed either way.
Other employer plans
The largest employer plans on the site, and a few more. Each page shows what the plan’s funds did with the shares its savers paid for.