Gulfstream Goodwill Industries 401(k) Review & Grade
403(b) Thrift Plan of Gulfstream Goodwill, Inc.
West Palm Beach, FLOther Services715 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$266Employer $ per active participant
$482Employee $ saved per active participant
0.97%Direct admin cost, % of plan assets
$8.4MNet plan assets, end of year
$16,489Average balance per account
Score breakdown
- Employer generosity9.6 / 5019th percentile for employer $ per participant
- Low cost1.7 / 257th percentile for low admin cost vs. same-size plans
- Employee saving2.0 / 1513th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score13 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 7th |
| Employee saving | 13th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($91,780 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Gulfstream Goodwill Industries put in about $266 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.
- Direct plan expenses (0.97% of assets) are well above similar-size plans (0.23%). 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $190,198 |
| Participant (employee) contributions | $344,804 |
| Other contributions (incl. rollovers in) | $6,623 |
| Administrative expenses paid from the plan | $83,531 |
| Other admin expenses | $83,531 |
| Benefits paid out | $2,126,171 |
| Net assets, start / end of year | $8.9M / $8.4M |
| Active participants, start / end of year | 751 / 679 |
| Participants with account balances | 508 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Mutual of America Sec. Corp LLC | $39,866 reported compensation |
| Wilshire Associates Inc | $22,148 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015170456NAL0005207585001, received 2025-10-15, EIN 59-1197040, plan #004, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.