Retirement plan

GOODWAY GROUP, INC., 401(K) SVGS AND INVESTMENT PLAN

Name: GOODWAY GROUP, INC. - GOODWAY GROUP, INC., 401(K) SVGS AND INVESTMENT PLAN (2024) Form 5500
Creator: GOODWAY GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GOODWAY GROUP, INC., 401(K) SVGS AND INVESTMENT PLAN, GOODWAY GROUP, INC.

GOODWAY GROUP, INC.EIN 59-1583162Plan #001PY 2024

228 PARK AVENUE S PMB, 81524 - NEW YORK, NY 10003267-620-3110goodwaygroup.comLinkedIn201-500 employeesmarketing and advertising

Prospect flagsHigh feesFailed to transmit contributions

How to read this page

Total assets (EOY)

$51.5M

+17.1% from 2023

Total participants

586

-6.2% from 2023

Average account balance

$89,877

+25.3% from 2023

Annual return

16.19%

-5.25 pp from 2023

Benchmarks

See 3,296 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants250-999

Cohort3,296 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$51.50M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$90K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

573

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

96.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6.57M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+16.19%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$307

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$76,556
MORGAN STANLEY SMITH BARNEY9 years Service code 27 1 NEW YORK PLAZA · NEW YORK, NY 10004	Advisory (Plan)	$73,012
CLIFTONLARSONALLEN LLP1 year Filed as: CLIFTON LARSON ALLEN WEALTH ADV LLC Service code 10 PO BOX 829709 · PHILADELPHIA, PA 19182	Accounting	$30,017
TYCOR BENEFIT ADMINISTRATORS, INC.1 year Service code 13 955 CHESTERBROOK BLVD · WAYNE, PA 19087	Contract Administrator	$10,156

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$176K

$462 / participant

Investment mgmt$73K41.6%
Contract admin$5K2.8%
Other / not subdivided$98K55.7%

% of EOY assets

0.341%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: $30,017
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$89,877

$106,264-15.4%

$147,117-38.9%

$77,762+15.6%

Participation rate

96.6%

78.4%+18.2pp

82.2%+14.4pp

70.6%+26.0pp

Annual return

16.19%

56.94%-40.7pp

420.54%-404.4pp

31.27%-15.1pp

Employer contribution / active EE

$4,913

$4,074+20.6%

$4,932-0.4%

$2,728+80.1%

Participant deferral / active EE

$12,369

$8,003+54.5%

$8,065+53.4%

$4,651+165.9%

Admin fee / account holder

$307

$334-8.3%

$12,993-97.6%

$433-29.2%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$76,556

MORGAN STANLEY SMITH BARNEY9 years

Service code 27

1 NEW YORK PLAZA · NEW YORK, NY 10004

Advisory (Plan)

$73,012

CLIFTONLARSONALLEN LLP1 year

Filed as: CLIFTON LARSON ALLEN WEALTH ADV LLC

Service code 10

PO BOX 829709 · PHILADELPHIA, PA 19182

Accounting

$30,017

TYCOR BENEFIT ADMINISTRATORS, INC.1 year

Service code 13

955 CHESTERBROOK BLVD · WAYNE, PA 19087

Contract Administrator

$10,156

GOODWAY GROUP, INC., 401(K) SVGS AND INVESTMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GOODWAY GROUP, INC., 401(K) SVGS AND INVESTMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion