Greenwood, Inc. 401(k) Review & Grade
Greenwood, Inc. 401(k) Retirement Savings Plan
Greenville, SCConstruction538 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$651Employer $ per active participant
$2,563Employee $ saved per active participant
0.40%Direct admin cost, % of plan assets
$20.9MNet plan assets, end of year
$61,736Average balance per account
Score breakdown
- Employer generosity10.8 / 5022th percentile for employer $ per participant
- Low cost7.7 / 2531th percentile for low admin cost vs. same-size plans
- Employee saving4.7 / 1531th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Construction plans with 500–2,499 active participants (498 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 22th |
| Lower admin cost | 31th |
| Employee saving | 31th |
| Peers that auto-enroll | 44% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $1,388 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Greenwood put in about $651 per active participant, below the typical peer ($1,672). 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 (0.40% 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.
- 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 | $349,932 |
| Participant (employee) contributions | $1,377,868 |
| Other contributions (incl. rollovers in) | $836,891 |
| Administrative expenses paid from the plan | $75,988 |
| Investment advisory & management fees | $2,067 |
| Benefits paid out | $1,101,413 |
| Net assets, start / end of year | $17.6M / $20.9M |
| Active participants, start / end of year | 543 / 532 |
| Participants with account balances | 338 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $73,921 reported compensation |
| Empower Advisory Group, LLC | $2,067 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250903141941NAL0015274577001, received 2025-09-03, EIN 57-0967122, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.