Grand Canyon Education, Inc. 401(k) Review & Grade
Grand Canyon Education Employees 401(k) Plan
Phoenix, AZEducational Services4,644 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$638Employer $ per active participant
$4,835Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$191.7MNet plan assets, end of year
$27,744Average balance per account
Score breakdown
- Employer generosity12.1 / 5024th percentile for employer $ per participant
- Low cost8.6 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving10.9 / 1573th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score32 / 100 · Grade D
This plan vs. peers
Peers: Educational Services plans with 2,500–9,999 active participants (34 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 24th |
| Lower admin cost | 34th |
| Employee saving | 73th |
| Peers that auto-enroll | 65% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Grand Canyon Education put in about $638 per active participant, below the typical peer ($1,155). 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 (0.20% 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 auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $2,963,770 |
| Participant (employee) contributions | $22,449,760 |
| Other contributions (incl. rollovers in) | $1,344,143 |
| Administrative expenses paid from the plan | $351,705 |
| Contract administrator fees | $2,100 |
| Investment advisory & management fees | $38,500 |
| Benefits paid out | $15,211,445 |
| Net assets, start / end of year | $158.3M / $191.7M |
| Active participants, start / end of year | 4,542 / 4,745 |
| Participants with account balances | 6,911 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $313,205 reported compensation |
| Sageview Advisory Group LLC | $38,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015200920NAL0002958627001, received 2025-10-15, EIN 20-3356009, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.