Goodwill of Central and Coastal Virginia, Inc. 401(k) Review & Grade
Safe-Harbor 403(b) Thrift Plan for Employees of Goodwill of Central and Coastal Virginia, Inc.
Richmond, VAOther Services1,886 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$279Employer $ per active participant
$447Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$14.6MNet plan assets, end of year
$8,230Average balance per account
Score breakdown
- Employer generosity10.7 / 5021th percentile for employer $ per participant
- Low cost17.1 / 2568th percentile for low admin cost vs. same-size plans
- Employee saving1.6 / 1511th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score39 / 100 · Grade D
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 21th |
| Lower admin cost | 68th |
| Employee saving | 11th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Goodwill of Central and Coastal Virginia put in about $279 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.
- 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 | $525,663 |
| Participant (employee) contributions | $842,506 |
| Other contributions (incl. rollovers in) | $5,686 |
| Administrative expenses paid from the plan | $18,024 |
| Other admin expenses | $18,024 |
| Benefits paid out | $2,682,936 |
| Net assets, start / end of year | $14.0M / $14.6M |
| Active participants, start / end of year | 2,440 / 1,331 |
| Participants with account balances | 1,770 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Keiter |
Largest service providers (Schedule C)
| Mutual of America Investment Corp | $18,024 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251009105505NAL0006864641001, received 2025-10-09, EIN 54-0455395, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.