Blaze Credit Union 401(k) Review & Grade
Blaze 401(k) Plan
Falcon Heights, MNFinance & Insurance603 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,677Employer $ per active participant
$6,180Employee $ saved per active participant
0.28%Direct admin cost, % of plan assets
$59.1MNet plan assets, end of year
$87,183Average balance per account
Score breakdown
- Employer generosity25.6 / 5051th percentile for employer $ per participant
- Low cost10.9 / 2544th percentile for low admin cost vs. same-size plans
- Employee saving5.7 / 1538th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 51th |
| Lower admin cost | 44th |
| Employee saving | 38th |
| Peers that auto-enroll | 62% |
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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
- Blaze Credit Union put in about $3,677 per active participant, more than the typical peer ($3,606). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $2,217,430 |
| Participant (employee) contributions | $3,726,399 |
| Other contributions (incl. rollovers in) | $9,902,284 |
| Administrative expenses paid from the plan | $137,629 |
| Investment advisory & management fees | $70,658 |
| Benefits paid out | $3,860,750 |
| Net assets, start / end of year | $40.8M / $59.1M |
| Active participants, start / end of year | 630 / 576 |
| Participants with account balances | 678 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Clifton Larsen Allen |
Largest service providers (Schedule C)
| Mma Securities LLC | $70,658 reported compensation |
| Empower Annuity Insurance Company | $66,971 reported compensation |
| Empower Financial Services, Inc. | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250730112551NAL0002296851001, received 2025-07-30, EIN 41-0585825, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.