Gojo Industries, Inc. 401(k) Review & Grade
Gojo Retirement Savings Plan
Akron, OHManufacturing1,694 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,695Employer $ per active participant
$7,007Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$244.7MNet plan assets, end of year
$115,695Average balance per account
Score breakdown
- Employer generosity35.6 / 5071th percentile for employer $ per participant
- Low cost21.8 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving11.0 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score75 / 100 · Grade A
This plan vs. peers
Peers: Manufacturing plans with 500–2,499 active participants (2,376 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 71th |
| Lower admin cost | 87th |
| Employee saving | 73th |
| Peers that auto-enroll | 59% |
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Red flags from the filing
Corrective distributions: the plan refunded $151 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Gojo Industries put in about $3,695 per active participant, more than the typical peer ($2,320). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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.
- 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 | $6,256,811 |
| Participant (employee) contributions | $11,865,614 |
| Other contributions (incl. rollovers in) | $963,314 |
| Administrative expenses paid from the plan | $120,431 |
| Investment advisory & management fees | $103,706 |
| Benefits paid out | $29,199,778 |
| Net assets, start / end of year | $226.2M / $244.7M |
| Active participants, start / end of year | 1,741 / 1,646 |
| Participants with account balances | 2,115 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bober Markey & Fedorovich |
Largest service providers (Schedule C)
| Capfinancial Partners, LLC | $95,000 reported compensation |
| Schwab Retirement Plan Services Inc | $18,078 reported compensation |
| Charles Schwab & Co., Inc. | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250919083212NAL0000995251001, received 2025-09-19, EIN 34-0659953, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.