Sault Tribe 401(k) Review & Grade
Sault Tribe 401 (K) Plan
Sault Sainte Marie, MIPublic Administration1,490 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,477Employer $ per active participant
$1,730Employee $ saved per active participant
0.39%Direct admin cost, % of plan assets
$49.8MNet plan assets, end of year
$29,204Average balance per account
Score breakdown
- Employer generosity22.2 / 5044th percentile for employer $ per participant
- Low cost7.9 / 2532th percentile for low admin cost vs. same-size plans
- Employee saving3.2 / 1521th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score36 / 100 · Grade D
This plan vs. peers
Peers: all industries, plans with 500–2,499 active participants (fewer than 30 industry peers) (10,919 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 44th |
| Lower admin cost | 32th |
| Employee saving | 21th |
| Peers that auto-enroll | 47% |
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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
- Sault Tribe put in about $1,477 per active participant, below the typical peer ($1,749). 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 (0.39% 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 | $2,200,072 |
| Participant (employee) contributions | $2,576,253 |
| Other contributions (incl. rollovers in) | $738,285 |
| Administrative expenses paid from the plan | $184,136 |
| Investment advisory & management fees | $64,289 |
| Benefits paid out | $6,626,026 |
| Net assets, start / end of year | $45.8M / $49.8M |
| Active participants, start / end of year | 1,188 / 1,791 |
| Participants with account balances | 1,706 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | DGN, LLC |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $119,847 reported compensation |
| Ubs Financial Services Inc | $64,289 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014083340NAL0001120867001, received 2025-10-14, EIN 23-7249643, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.