Gildan Activewear (eden) Inc. 401(k) Review & Grade
Gildan 401(k) Plan
Eden, NCTransportation & Warehousing2,632 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$978Employer $ per active participant
$2,565Employee $ saved per active participant
0.44%Direct admin cost, % of plan assets
$100.1MNet plan assets, end of year
$27,638Average balance per account
Score breakdown
- Employer generosity14.8 / 5030th percentile for employer $ per participant
- Low cost3.7 / 2515th percentile for low admin cost vs. same-size plans
- Employee saving4.1 / 1527th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Transportation & Warehousing plans with 2,500–9,999 active participants (123 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 30th |
| Lower admin cost | 15th |
| Employee saving | 27th |
| Peers that auto-enroll | 46% |
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Red flags from the filing
Corrective distributions: the plan refunded $190,473 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Gildan Activewear (eden) put in about $978 per active participant, below the typical peer ($1,834). 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 (0.44% of assets) are well above similar-size plans (0.12%). 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.
- 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 | $2,573,390 |
| Participant (employee) contributions | $6,750,801 |
| Other contributions (incl. rollovers in) | $64,984 |
| Administrative expenses paid from the plan | $420,321 |
| Contract administrator fees | $1,200 |
| Investment advisory & management fees | $100,875 |
| Benefits paid out | $12,633,836 |
| Net assets, start / end of year | $92.3M / $100.1M |
| Active participants, start / end of year | 2,525 / 2,739 |
| Participants with account balances | 3,623 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $297,496 reported compensation |
| Capfinancial Partners, LLC | $80,475 reported compensation |
| Forvis Mazars, LLP | $21,950 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014090406NAL0002372337001, received 2025-10-14, EIN 56-2198731, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.