Goodwill Industries-Manasota, Inc. 401(k) Review & Grade
Goodwill Industries-Manasota, Inc. Retirement Plan
Bradenton, FLOther Services1,434 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$233Employer $ per active participant
$397Employee $ saved per active participant
0.34%Direct admin cost, % of plan assets
$5.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity8.1 / 5016th percentile for employer $ per participant
- Low cost9.0 / 2536th percentile for low admin cost vs. same-size plans
- Employee saving1.2 / 158th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score21 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 16th |
| Lower admin cost | 36th |
| Employee saving | 8th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Goodwill Industries-Manasota put in about $233 per active participant, below the typical peer ($1,257). 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.
- 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.
- 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 | $334,464 |
| Participant (employee) contributions | $569,181 |
| Other contributions (incl. rollovers in) | $285,994 |
| Administrative expenses paid from the plan | $16,967 |
| Investment advisory & management fees | $16,967 |
| Benefits paid out | $807,272 |
| Net assets, start / end of year | $4.5M / $5.5M |
| Active participants, start / end of year | 1,367 / 1,500 |
| Participants with account balances | 308 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mauldin & Jenkins |
Largest service providers (Schedule C)
| Goodwill Industries-Manasota, Inc. | $13,500 reported compensation |
| First Party Administrators | $7,824 reported compensation |
| Empower Annuity Ins Co of America | $3,824 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008151952NAL0005753473001, received 2025-10-08, EIN 59-2074391, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.