Goodwin Procter LLP 401(k) Review & Grade
Goodwin Procter LLP Partnership Profit Sharing Savings Plan
Boston, MAProfessional, Scientific & Technical Services2,196 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$6,849Employer $ per active participant
$18,633Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$1.6BNet plan assets, end of year
$426,945Average balance per account
Score breakdown
- Employer generosity41.9 / 5084th percentile for employer $ per participant
- Low cost24.6 / 2598th percentile for low admin cost vs. same-size plans
- Employee saving14.6 / 1597th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 84th |
| Lower admin cost | 98th |
| Employee saving | 97th |
| Peers that auto-enroll | 48% |
Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $20,232 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Goodwin Procter LLP put in about $6,849 per active participant, more than the typical peer ($3,082). 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.
- 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 | $15,044,403 |
| Participant (employee) contributions | $40,927,630 |
| Other contributions (incl. rollovers in) | $110,008,097 |
| Administrative expenses paid from the plan | $89,161 |
| Contract administrator fees | $600 |
| Investment advisory & management fees | $83,168 |
| Other admin expenses | $17,418 |
| Benefits paid out | $92,888,296 |
| Net assets, start / end of year | $985.5M / $1.6B |
| Active participants, start / end of year | 1,958 / 2,435 |
| Participants with account balances | 3,635 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Citrin Cooperman & Company, LLP |
Largest service providers (Schedule C)
| Strategic Advisors, Inc. | $83,168 reported compensation |
| Citrin Cooperman | $33,075 reported compensation |
| Fiducient Advisors LLC | $17,418 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260715143504NAL0003213633001, received 2026-07-15, EIN 04-1378465, plan #001, plan year 2024-10-01 to 2025-09-30. Verify at efast.dol.gov.
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