Hannahville Indian Community 401(k) Review & Grade
Hannahville Indian Community Nongovernment 401(k) Plan
Wilson, MIAccommodation & Food Services578 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,510Employer $ per active participant
$1,147Employee $ saved per active participant
0.57%Direct admin cost, % of plan assets
$22.1MNet plan assets, end of year
$27,033Average balance per account
Score breakdown
- Employer generosity46.5 / 5093th percentile for employer $ per participant
- Low cost4.8 / 2519th percentile for low admin cost vs. same-size plans
- Employee saving10.1 / 1567th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 93th |
| Lower admin cost | 19th |
| Employee saving | 67th |
| Peers that auto-enroll | 17% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,446 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Hannahville Indian Community put in about $1,510 per active participant, more than the typical peer ($266). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- 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 (0.57% 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 | $871,992 |
| Participant (employee) contributions | $662,204 |
| Other contributions (incl. rollovers in) | $21,958 |
| Administrative expenses paid from the plan | $119,050 |
| Contract administrator fees | $119,050 |
| Benefits paid out | $1,192,725 |
| Net assets, start / end of year | $19.7M / $22.1M |
| Active participants, start / end of year | 569 / 586 |
| Participants with account balances | 818 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Anderson Tackman & Co. PLC |
Largest service providers (Schedule C)
| Kerberrose Wealth Management | $28,464 reported compensation |
| John Hancock Life Insurance Co. | $7,872 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260713145424NAL0000533378001, received 2026-07-13, EIN 38-2008182, plan #002, plan year 2024-10-01 to 2025-09-30. Verify at efast.dol.gov.