Goodwill Industries of Greater Cleveland and East Central Ohio, Inc. 401(k) Review & Grade
403(b) Thrift Plan of Goodwill Industries of Greater Cleveland and East Central Ohio, Inc.
Canton, OHHealth Care & Social Assistance561 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$166Employer $ per active participant
$811Employee $ saved per active participant
0.05%Direct admin cost, % of plan assets
$6.5MNet plan assets, end of year
$21,124Average balance per account
Score breakdown
- Employer generosity9.7 / 5019th percentile for employer $ per participant
- Low cost21.8 / 2587th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-15 pts2 issues reported on the filing
Total score22 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 19th |
| Lower admin cost | 87th |
| Employee saving | 18th |
| Peers that auto-enroll | 36% |
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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 ($1,150 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Auditor disclaimer: the auditor issued a disclaimer of opinion.
What to do if you're in this plan
- Goodwill Industries of Greater Cleveland and East Central Ohio put in about $166 per active participant, below the typical peer ($976). 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 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 | $92,936 |
| Participant (employee) contributions | $454,892 |
| Other contributions (incl. rollovers in) | $39,944 |
| Administrative expenses paid from the plan | $3,278 |
| Other admin expenses | $3,278 |
| Benefits paid out | $1,580,587 |
| Net assets, start / end of year | $6.6M / $6.5M |
| Active participants, start / end of year | 501 / 621 |
| Participants with account balances | 306 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Sikich CPA LLC |
Largest service providers (Schedule C)
| Mutual of America Investment Corp | $4,350 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007093114NAL0007848912001, received 2025-10-07, EIN 34-0909974, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.