Gobrands, Inc. 401(k) Review & Grade
Gobrands, Inc. 401(k) Profit Sharing Plan
Philadelphia, PAWholesale Trade4,942 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$806Employer $ per active participant
$1,589Employee $ saved per active participant
0.27%Direct admin cost, % of plan assets
$76.6MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity6.4 / 5013th percentile for employer $ per participant
- Low cost6.5 / 2526th percentile for low admin cost vs. same-size plans
- Employee saving1.5 / 1510th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score14 / 100 · Grade F
This plan vs. peers
Peers: Wholesale Trade plans with 2,500–9,999 active participants (103 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 13th |
| Lower admin cost | 26th |
| Employee saving | 10th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $137 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Gobrands put in about $806 per active participant, below the typical peer ($2,459). 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 (0.27% 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.
- 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 | $3,983,333 |
| Participant (employee) contributions | $7,851,348 |
| Other contributions (incl. rollovers in) | $575,328 |
| Administrative expenses paid from the plan | $195,256 |
| Investment advisory & management fees | $16,453 |
| Benefits paid out | $16,453,670 |
| Net assets, start / end of year | $69.5M / $76.6M |
| Active participants, start / end of year | 5,685 / 4,198 |
| Participants with account balances | 1,946 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Belfint, Lyons & Shuman, P.A. |
Largest service providers (Schedule C)
| Fidelity Investmentsinstitutional | $178,803 reported compensation |
| Strategic Advisors, Inc. | $16,453 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014160337NAL0004475024001, received 2025-10-14, EIN 47-4409123, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.