Blst Operating Company, LLC 401(k) Review & Grade
Bluestem 401(k) Retirement Savings Plan
Eden Prairie, MNRetail Trade996 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,829Employer $ per active participant
$4,585Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$204.3MNet plan assets, end of year
$114,971Average balance per account
Score breakdown
- Employer generosity41.1 / 5082th percentile for employer $ per participant
- Low cost19.3 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving11.3 / 1575th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score65 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 500–2,499 active participants (719 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 82th |
| Lower admin cost | 77th |
| Employee saving | 75th |
| Peers that auto-enroll | 48% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Blst Operating Company put in about $1,829 per active participant, more than the typical peer ($743). 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.
- 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 | $1,823,001 |
| Participant (employee) contributions | $4,569,445 |
| Other contributions (incl. rollovers in) | $282,213 |
| Administrative expenses paid from the plan | $176,889 |
| Other admin expenses | $70,000 |
| Benefits paid out | $27,743,154 |
| Net assets, start / end of year | $200.6M / $204.3M |
| Active participants, start / end of year | 930 / 1,063 |
| Participants with account balances | 1,777 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Ellingson & Ellingson |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $96,089 reported compensation |
| Morgan Stanley | $70,000 reported compensation |
| Ellingson&ellingson | $10,800 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250922143826NAL0006228384001, received 2025-09-22, EIN 85-1387944, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.