Goodwin University, Inc. 401(k) Review & Grade
Goodwin University Savings and Retirement Plan
East Hartford, CTEducational Services836 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,045Employer $ per active participant
$4,040Employee $ saved per active participant
0.64%Direct admin cost, % of plan assets
$31.2MNet plan assets, end of year
$38,006Average balance per account
Score breakdown
- Employer generosity19.6 / 5039th percentile for employer $ per participant
- Low cost3.9 / 2516th percentile for low admin cost vs. same-size plans
- Employee saving10.4 / 1569th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score44 / 100 · Grade D
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 16th |
| Employee saving | 69th |
| Peers that auto-enroll | 37% |
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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
- Goodwin University put in about $1,045 per active participant, below the typical peer ($1,225). 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 (0.64% 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 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 | $873,608 |
| Participant (employee) contributions | $3,377,669 |
| Other contributions (incl. rollovers in) | $548,636 |
| Administrative expenses paid from the plan | $180,051 |
| Contract administrator fees | $8,334 |
| Investment advisory & management fees | $62,567 |
| Benefits paid out | $2,155,662 |
| Net assets, start / end of year | $25.2M / $31.2M |
| Active participants, start / end of year | 820 / 852 |
| Participants with account balances | 821 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Cohnreznick, LLP |
Largest service providers (Schedule C)
| Cohn Reznick | $109,150 reported compensation |
| Global Retirement Partners, LLC | $39,230 reported compensation |
| Pension Consultants, Inc. | $18,334 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013093601NAL0000941201001, received 2025-10-13, EIN 06-1627882, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.