Goodwill Industries of Middle Georgia 401(k) Review & Grade
Goodwill Industries of Middle Ga 401(k) P/S Plan
Macon, GAEducational Services1,290 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$361Employer $ per active participant
$460Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$7.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity5.2 / 5010th percentile for employer $ per participant
- Low cost12.3 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving0.2 / 151th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score11 / 100 · Grade F
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 10th |
| Lower admin cost | 49th |
| Employee saving | 1th |
| Peers that auto-enroll | 37% |
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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 ($269,659 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 Middle Georgia put in about $361 per active participant, below the typical peer ($1,225). 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 | $465,822 |
| Participant (employee) contributions | $593,855 |
| Other contributions (incl. rollovers in) | $8,100 |
| Administrative expenses paid from the plan | $16,014 |
| Contract administrator fees | $16,014 |
| Benefits paid out | $224,569 |
| Net assets, start / end of year | $6.1M / $7.5M |
| Active participants, start / end of year | 1,289 / 1,291 |
| Participants with account balances | 227 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cherry Bekaert LLP |
Largest service providers (Schedule C)
| Smith, Brown & Groover, Inc | $33,023 reported compensation |
| Nationwide | $24,839 reported compensation |
| Pension Financial Services Inc | $9,032 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015102612NAL0009067458001, received 2025-10-15, EIN 58-1249683, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.