White Earth Reservation Tribal Council 401(k) Review & Grade
White Earth Commercial 401(k) Plan
Mahnomen, MNPublic Administration640 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,038Employer $ per active participant
$2,859Employee $ saved per active participant
0.39%Direct admin cost, % of plan assets
$30.2MNet plan assets, end of year
$28,472Average balance per account
Score breakdown
- Employer generosity27.7 / 5055th percentile for employer $ per participant
- Low cost7.9 / 2532th percentile for low admin cost vs. same-size plans
- Employee saving5.1 / 1534th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score41 / 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 | 55th |
| Lower admin cost | 32th |
| Employee saving | 34th |
| Peers that auto-enroll | 47% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($52,269 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- White Earth Reservation Tribal Council put in about $2,038 per active participant, more than the typical peer ($1,749). 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 (0.39% 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- The plan reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,304,322 |
| Participant (employee) contributions | $1,829,952 |
| Other contributions (incl. rollovers in) | $150,137 |
| Administrative expenses paid from the plan | $109,461 |
| Investment advisory & management fees | $40,910 |
| Benefits paid out | $3,118,987 |
| Net assets, start / end of year | $26.2M / $30.2M |
| Active participants, start / end of year | 613 / 667 |
| Participants with account balances | 1,062 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Brady Martz & Associates, P.C. |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $68,551 reported compensation |
| LPL Financial Corporation | $21,251 reported compensation |
| Securities America Inc | $19,659 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008220955NAL0005988433001, received 2025-10-08, EIN 41-1737979, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.