Goodwill Industries of Kanawha Valley, Inc. 401(k) Review & Grade
Goodwill Industries of Kanawha Valley 401(k) Plan
Charleston, WVOther Services502 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$338Employer $ per active participant
$518Employee $ saved per active participant
0.86%Direct admin cost, % of plan assets
$2.5MNet plan assets, end of year
$6,869Average balance per account
Score breakdown
- Employer generosity11.9 / 5024th percentile for employer $ per participant
- Low cost2.2 / 259th percentile for low admin cost vs. same-size plans
- Employee saving2.2 / 1514th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score16 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 9th |
| Employee saving | 14th |
| 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 ($212,312 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
- Goodwill Industries of Kanawha Valley put in about $338 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 (0.86% 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 | $169,695 |
| Participant (employee) contributions | $259,810 |
| Other contributions (incl. rollovers in) | $73,807 |
| Administrative expenses paid from the plan | $19,015 |
| Contract administrator fees | $19,015 |
| Benefits paid out | $161,693 |
| Net assets, start / end of year | $1.9M / $2.5M |
| Active participants, start / end of year | 534 / 469 |
| Participants with account balances | 362 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Grays, Griffith & Mays A.c |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $15,049 reported compensation |
| Metro Benefits Inc. | $5,003 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015171337NAL0005227649001, received 2025-10-15, EIN 55-0380828, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.