Fond Du Lac Reservation Business Committee 401(k) Review & Grade
Fond Du Lac Employee Retirement Plan
Cloquet, MNArts, Entertainment & Recreation1,628 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,386Employer $ per active participant
$3,953Employee $ saved per active participant
0.25%Direct admin cost, % of plan assets
$110.7MNet plan assets, end of year
$46,139Average balance per account
Score breakdown
- Employer generosity42.4 / 5085th percentile for employer $ per participant
- Low cost12.0 / 2548th percentile for low admin cost vs. same-size plans
- Employee saving12.0 / 1580th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score76 / 100 · Grade A
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 85th |
| Lower admin cost | 48th |
| Employee saving | 80th |
| 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
- Fond Du Lac Reservation Business Committee put in about $2,386 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.
- 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 | $3,884,983 |
| Participant (employee) contributions | $6,436,710 |
| Other contributions (incl. rollovers in) | $335,247 |
| Administrative expenses paid from the plan | $254,314 |
| Investment advisory & management fees | $133,270 |
| Benefits paid out | $8,665,095 |
| Net assets, start / end of year | $96.6M / $110.7M |
| Active participants, start / end of year | 1,582 / 1,675 |
| Participants with account balances | 2,400 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wipfli LLP |
Largest service providers (Schedule C)
| Cbiz Financial Solutions, Inc. | $133,271 reported compensation |
| Transamerica Retirement Solutions | $121,044 reported compensation |
| National Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250814120814NAL0013649168001, received 2025-08-14, EIN 41-0965719, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.