Flandreau Santee Sioux Tribe 401(k) Review & Grade
Fsst 401(k) Plan
Flandreau, SDPublic Administration516 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$3,630Employer $ per active participant
$2,026Employee $ saved per active participant
1.03%Direct admin cost, % of plan assets
$11.8MNet plan assets, end of year
$14,938Average balance per account
Score breakdown
- Employer generosity37.9 / 5076th percentile for employer $ per participant
- Low cost1.5 / 256th percentile for low admin cost vs. same-size plans
- Employee saving3.7 / 1525th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score33 / 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 | 76th |
| Lower admin cost | 6th |
| Employee saving | 25th |
| Peers that auto-enroll | 47% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($329,542 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $768 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Flandreau Santee Sioux Tribe put in about $3,630 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 (1.03% 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 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 | $1,874,821 |
| Participant (employee) contributions | $1,046,352 |
| Other contributions (incl. rollovers in) | $78,287 |
| Administrative expenses paid from the plan | $104,844 |
| Benefits paid out | $922,758 |
| Net assets, start / end of year | $8.6M / $11.8M |
| Active participants, start / end of year | 505 / 528 |
| Participants with account balances | 787 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Forvis Mazars, LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $104,844 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015122929NAL0002290659001, received 2025-10-15, EIN 23-7000301, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.