Chitimacha Tribe of Louisiana 401(k) Review & Grade
Chitimacha Tribe of Louisiana 401(k) Profit Sharing Plan
Charenton, LAOther Services558 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$929Employer $ per active participant
$2,651Employee $ saved per active participant
0.52%Direct admin cost, % of plan assets
$25.1MNet plan assets, end of year
$38,926Average balance per account
Score breakdown
- Employer generosity20.6 / 5041th percentile for employer $ per participant
- Low cost5.5 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving7.6 / 1551th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score41 / 100 · Grade D
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 41th |
| Lower admin cost | 22th |
| Employee saving | 51th |
| Peers that auto-enroll | 40% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,138 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Chitimacha Tribe of Louisiana put in about $929 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.
- Direct plan expenses (0.52% 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 | $518,863 |
| Participant (employee) contributions | $1,480,804 |
| Other contributions (incl. rollovers in) | $862 |
| Administrative expenses paid from the plan | $123,338 |
| Contract administrator fees | $123,338 |
| Benefits paid out | $2,071,214 |
| Net assets, start / end of year | $22.7M / $25.1M |
| Active participants, start / end of year | 553 / 564 |
| Participants with account balances | 646 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Voya Retirement Insurance & Annuity | $99,603 reported compensation |
| Nep Retirement Inc | $30,000 reported compensation |
| RSM | $23,744 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008071829NAL0008936400001, received 2025-10-08, EIN 72-0705406, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.