Leech Lake Band of Ojibwe 401(k) Review & Grade
Leech Lake Band of Ojibwe Commercial 401(k)
Cass Lake, MNArts, Entertainment & Recreation940 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,623Employer $ per active participant
$683Employee $ saved per active participant
0.78%Direct admin cost, % of plan assets
$16.6MNet plan assets, end of year
$11,301Average balance per account
Score breakdown
- Employer generosity35.5 / 5071th percentile for employer $ per participant
- Low cost2.6 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving1.9 / 1513th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 71th |
| Lower admin cost | 10th |
| Employee saving | 13th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Leech Lake Band of Ojibwe put in about $1,623 per active participant, more than the typical peer ($995). 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 (0.78% 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 | $1,525,464 |
| Participant (employee) contributions | $641,622 |
| Other contributions (incl. rollovers in) | $23,229 |
| Administrative expenses paid from the plan | $131,135 |
| Contract administrator fees | $110,485 |
| Benefits paid out | $2,040,060 |
| Net assets, start / end of year | $16.9M / $16.6M |
| Active participants, start / end of year | 1,003 / 877 |
| Participants with account balances | 1,468 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Brady Martz & Associates, P.C. |
Largest service providers (Schedule C)
| Ascensus LLC | $110,485 reported compensation |
| Brady, Martz and Associates, PC CPA | $20,650 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014094330NAL0002435009001, received 2025-10-14, EIN 41-1710892, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.