Goodwill Industries of Souther 401(k) Review & Grade
403(b) Thrift Plan for Employees of Goodwill Industries of Southern New England, Inc.
North Haven, CTOther Services887 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$234Employer $ per active participant
$477Employee $ saved per active participant
0.03%Direct admin cost, % of plan assets
$10.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity8.3 / 5017th percentile for employer $ per participant
- Low cost23.4 / 2593th percentile for low admin cost vs. same-size plans
- Employee saving1.9 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-5 pts1 issue reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 17th |
| Lower admin cost | 93th |
| Employee saving | 13th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
Auditor disclaimer: the auditor issued a disclaimer of opinion.
What to do if you're in this plan
- Goodwill Industries of Souther put in about $234 per active participant, below the typical peer ($1,257). 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.
- 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.
- 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 | $207,692 |
| Participant (employee) contributions | $422,853 |
| Other contributions (incl. rollovers in) | $50,187 |
| Administrative expenses paid from the plan | $2,672 |
| Other admin expenses | $2,672 |
| Benefits paid out | $775,945 |
| Net assets, start / end of year | $9.1M / $10.2M |
| Active participants, start / end of year | 870 / 904 |
| Participants with account balances | 265 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Fiondella, Milone & Lasaracina LLP |
Largest service providers (Schedule C)
| Mutual of America Investment Corp | $2,672 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014120956NAL0001352739001, received 2025-10-14, EIN 23-7431264, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.