GSF USA, Inc. 401(k) Review & Grade
GSF USA, Inc. 401(k) Retirement Plan
Indianapolis, INAdministrative, Support & Staffing Services1,597 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$159Employer $ per active participant
$286Employee $ saved per active participant
0.67%Direct admin cost, % of plan assets
$4.7MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity12.8 / 5026th percentile for employer $ per participant
- Low cost3.5 / 2514th percentile for low admin cost vs. same-size plans
- Employee saving2.0 / 1513th 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: Administrative, Support & Staffing Services plans with 500–2,499 active participants (401 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 26th |
| Lower admin cost | 14th |
| Employee saving | 13th |
| Peers that auto-enroll | 27% |
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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 ($17,340 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
- GSF USA put in about $159 per active participant, below the typical peer ($712). 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 (0.67% 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.
- 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 | $254,364 |
| Participant (employee) contributions | $457,480 |
| Other contributions (incl. rollovers in) | $27,078 |
| Administrative expenses paid from the plan | $33,591 |
| Investment advisory & management fees | $27,930 |
| Benefits paid out | $1,784,302 |
| Net assets, start / end of year | $5.2M / $4.7M |
| Active participants, start / end of year | 1,567 / 1,627 |
| Participants with account balances | 137 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $32,334 reported compensation |
| Shepherd Financial Investment Advis | $26,673 reported compensation |
| Empower Advisory Group, LLC | $1,257 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010103244NAL0004503779001, received 2025-10-10, EIN 35-1734232, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.