Gowan Company, LLC 401(k) Review & Grade
Gowan Group 401(k) Profit Sharing Plan
Yuma, AZRetail Trade890 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,895Employer $ per active participant
$5,768Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$91.6MNet plan assets, end of year
$87,895Average balance per account
Score breakdown
- Employer generosity46.7 / 5093th percentile for employer $ per participant
- Low cost16.6 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving13.4 / 1589th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-20 pts2 issues reported on the filing
Total score67 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 67th |
| Employee saving | 89th |
| Peers that auto-enroll | 48% |
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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 ($1,884,297 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Gowan Company put in about $2,895 per active participant, more than the typical peer ($743). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 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 | $2,576,167 |
| Participant (employee) contributions | $5,133,859 |
| Other contributions (incl. rollovers in) | $369,571 |
| Administrative expenses paid from the plan | $114,958 |
| Investment advisory & management fees | $21,463 |
| Benefits paid out | $7,088,264 |
| Net assets, start / end of year | $80.2M / $91.6M |
| Active participants, start / end of year | 889 / 891 |
| Participants with account balances | 1,042 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Frost, PLLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $93,845 reported compensation |
| Strategic Advisors, Inc. | $21,463 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251016110512NAL0003151107001, received 2025-10-16, EIN 86-0817046, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.