Texas Wasatch Insurance Services, L.P. 401(k) Review & Grade
Goosehead Insurance 401k Plan · d/b/a Goosehead Insurance
Westlake, TXFinance & Insurance1,655 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$863Employer $ per active participant
$1,943Employee $ saved per active participant
0.42%Direct admin cost, % of plan assets
$30.5MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity4.2 / 508th percentile for employer $ per participant
- Low cost7.2 / 2529th percentile for low admin cost vs. same-size plans
- Employee saving0.5 / 154th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score2 / 100 · Grade F
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 8th |
| Lower admin cost | 29th |
| Employee saving | 4th |
| Peers that auto-enroll | 62% |
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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 ($419,413 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $90,644 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Texas Wasatch Insurance Services, L.P. put in about $863 per active participant, below the typical peer ($3,606). 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 (0.42% 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 | $1,428,631 |
| Participant (employee) contributions | $3,215,839 |
| Other contributions (incl. rollovers in) | $216,459 |
| Administrative expenses paid from the plan | $114,769 |
| Investment advisory & management fees | $92,233 |
| Benefits paid out | $2,442,881 |
| Net assets, start / end of year | $24.1M / $30.5M |
| Active participants, start / end of year | 1,632 / 1,678 |
| Participants with account balances | 685 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Alliant Retirement Services | $53,308 reported compensation |
| Strategic Advisors, Inc. | $38,926 reported compensation |
| Fidelity Investments Institutional | $22,536 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010161910NAL0008466129001, received 2025-10-10, EIN 74-3107166, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.