Cherokee Nation Businesses, LLC 401(k) Review & Grade
Cherokee Nation Businesses LLC 401(k) Plan
Catoosa, OKArts, Entertainment & Recreation8,124 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,481Employer $ per active participant
$5,100Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$492.0MNet plan assets, end of year
$49,651Average balance per account
Score breakdown
- Employer generosity47.1 / 5094th percentile for employer $ per participant
- Low cost16.6 / 2567th percentile for low admin cost vs. same-size plans
- Employee saving12.4 / 1582th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score73 / 100 · Grade B
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 2,500–9,999 active participants (35 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 94th |
| Lower admin cost | 67th |
| Employee saving | 82th |
| Peers that auto-enroll | 43% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $5,406 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Cherokee Nation Businesses put in about $3,481 per active participant, more than the typical peer ($1,107). 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 | $28,279,120 |
| Participant (employee) contributions | $41,428,599 |
| Other contributions (incl. rollovers in) | $8,437,494 |
| Administrative expenses paid from the plan | $332,825 |
| Contract administrator fees | $1,500 |
| Other admin expenses | $45,900 |
| Benefits paid out | $47,149,116 |
| Net assets, start / end of year | $401.2M / $492.0M |
| Active participants, start / end of year | 7,735 / 8,512 |
| Participants with account balances | 9,909 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $291,714 reported compensation |
| Innovest Portfolio Solutions LLC | $45,900 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250811084321NAL0016032994001, received 2025-08-11, EIN 11-3784371, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.