The Gatesworth 401(k) Review & Grade
The Gatesworth Employee Savings & Retirement Plan
ST. Louis, MOHealth Care & Social Assistance770 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$106Employer $ per active participant
$626Employee $ saved per active participant
0.74%Direct admin cost, % of plan assets
$6.0MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity7.7 / 5015th percentile for employer $ per participant
- Low cost3.0 / 2512th percentile for low admin cost vs. same-size plans
- Employee saving2.1 / 1514th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-3 pts1 issue reported on the filing
Total score10 / 100 · Grade F
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 15th |
| Lower admin cost | 12th |
| Employee saving | 14th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Corrective distributions: the plan refunded $5,939 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Gatesworth put in about $106 per active participant, below the typical peer ($976). 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 (0.74% 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 | $82,016 |
| Participant (employee) contributions | $482,054 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $42,739 |
| Contract administrator fees | $42,739 |
| Benefits paid out | $769,620 |
| Net assets, start / end of year | $5.6M / $6.0M |
| Active participants, start / end of year | 673 / 868 |
| Participants with account balances | 152 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Wipfli LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $33,889 reported compensation |
| Orenda Retirement LLC | $6,154 reported compensation |
| Sbhu Life Agency Inc | $5,495 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250825104434NAL0007521761001, received 2025-08-25, EIN 43-1458239, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.