Goodwill of Central and Northern Arizona 401(k) Review & Grade
Goodwill Industries of Central Arizona Retirement Plan
Phoenix, AZHealth Care & Social Assistance4,892 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$105Employer $ per active participant
$393Employee $ saved per active participant
0.52%Direct admin cost, % of plan assets
$16.8MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity12.1 / 5024th percentile for employer $ per participant
- Low cost3.0 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score7 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 12th |
| Employee saving | 14th |
| Peers that auto-enroll | 38% |
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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 ($8,469 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 of Central and Northern Arizona put in about $105 per active participant, below the typical peer ($800). 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 (0.52% 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.
- 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 | $514,328 |
| Participant (employee) contributions | $1,921,098 |
| Other contributions (incl. rollovers in) | $189,192 |
| Administrative expenses paid from the plan | $81,872 |
| Contract administrator fees | $81,872 |
| Benefits paid out | $2,113,972 |
| Net assets, start / end of year | $14.5M / $16.8M |
| Active participants, start / end of year | 4,817 / 4,968 |
| Participants with account balances | 1,080 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $81,872 reported compensation |
| Global Retirement Partners LLC | $33,589 reported compensation |
| Desantiago Pension Consulting LLC | $7,621 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015165252NAL0005183857001, received 2025-10-15, EIN 86-0104415, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.