What is Axiomatic Data?

Quantitative data on public and private U.S. companies, extracted and aligned from IRS Form 5500 (ERISA) filings, which cover retirement and welfare benefit plans and can be leveraged as leading indicators of financial health.

Reliable Source

Form 5500 series is a reporting and disclosure tool used to satisfy annual reporting requirements by public and private companies in the U.S. for employee benefit plans under ERISA and the Internal Revenue Code.

Form 5500 was jointly developed by the Department of Labor (DOL), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC). Employee benefit plans include welfare benefits such as medical, dental, vision, etc. and retirement benefits such as 401Ks and others.

Frequency & History

The database is updated monthly.

There is over 6 years of point in time, ticker-mapped historical data available for testing.


The Axiomatic database covers over 1 million U.S. companies, both public and private, that file Form 5500. This includes publicly available, point in time, clean harmonized data on all U.S. public companies that file.

For the historical dataset currently ready for testing, tickers have been mapped to the Russell 3000 universe.

Key Features

Point in Time

The database is point in time and meticulously harmonized for a significant number of companies filing under multiple EINs.


The data is extracted, ingested and parsed from DOL and IRS every month.


Algorithms are created to harmonize and normalize the data that is across multiple EINs, years, forms, and schedules for consistent insights.


Algorithms are created to clean data, structure data format, identify and treat outliers, treat missing values.


The data does not contain Personally Identifiable Information (PII), is compliant to GDPR, and is not exclusively available to any buy side client.


Six years of point in time historical data has been mapped to Russell 3000 tickers and is available for testing.

Use Cases

For public company investors

For quant and fundamental investors

Changes to employee benefit plans over time can signal changes in growth rates and overall financial health.

For short-sellers

Deceleration in employee benefit contributions and programs can signal payment delinquency and impending stock weakness.

For ESG investors

The ability to compare employee benefit plans across all companies and industries (broad coverage) at an extremely high level of granularity.

  • Employee Benefits: Do companies with better employee benefit plans outperform those with poor employee benefits?
  • Red Flags / Credit analysis:Performance of companies that stop certain employee benefit plans.
Additional signals

  • Growth trends:Growth rate of current employees participating in welfare and pension plans and contributions, signal growth in earnings.
  • Macro signals:Aggregated data and metrics on employment, contributions, and credit enable zip code level, MSA level and industry level analysis.

For private company investors

Due diligence

Form 5500 data being a mandatory government requirement, our firmographics data, such as number of employees participating in a benefit plan, sourced from these filings, is of the highest quality.


Compare and benchmark employee benefit plans across all US private companies, including private equity and venture capital portfolios.

Additional signals

  • Industry analysis and hiring trends.
  • Monitor employee growth rates by company and by industry.
  • High Quality Estimated Revenue.
  • Consistent yearly longitudinal data for these companies.

What Axiomatic Offers?

For Quant Funds

  • Over 5 years of history.
  • Russell 3000 coverage.
  • Point in time historical data mapped to tickers.
  • Clean harmonized raw data.

For Discretionary / Hedge funds

  • Variety of purchase options for smaller ticker universes.
  • Ticker via API.

For Traditional Long only fundamental funds

  • Analytics and aggregated metrics.
  • Dashboards on the data to save time.
What format is the test data in?

Either CSV or JSON.

When is the data delivered?

The data is delivered on the second Monday of each month.

Is there a data dictionary?

Data Dictionaries

Want to test Axiomatic Data?

Contact Us