Canterbury Park Holding Corp. 401(k) Review & Grade
Canterbury Park 401(k) Retirement Plan
Shakopee, MNArts, Entertainment & Recreation636 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,382Employer $ per active participant
$3,273Employee $ saved per active participant
0.47%Direct admin cost, % of plan assets
$36.7MNet plan assets, end of year
$47,786Average balance per account
Score breakdown
- Employer generosity32.1 / 5064th percentile for employer $ per participant
- Low cost6.3 / 2525th percentile for low admin cost vs. same-size plans
- Employee saving10.1 / 1567th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score59 / 100 · Grade C
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 64th |
| Lower admin cost | 25th |
| Employee saving | 67th |
| 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
- Canterbury Park Holding put in about $1,382 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 (0.47% 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.
- 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 | $878,006 |
| Participant (employee) contributions | $2,079,818 |
| Other contributions (incl. rollovers in) | $79,051 |
| Administrative expenses paid from the plan | $160,992 |
| Contract administrator fees | $160,992 |
| Benefits paid out | $1,936,154 |
| Net assets, start / end of year | $32.0M / $36.7M |
| Active participants, start / end of year | 659 / 612 |
| Participants with account balances | 769 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wipfli LLP |
| Employer stock held by plan | $4,381,368 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $160,992 reported compensation |
| Usi Advisors, Inc. | $5,056 reported compensation |
| Morningstar Investment Management L | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010151454NAL0018939506001, received 2025-10-10, EIN 41-1775532, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.