Keweenaw Bay Indian Community 401(k) Review & Grade
Keweenaw Bay Indian Community 401(k) Plan
Baraga, MIArts, Entertainment & Recreation594 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,810Employer $ per active participant
$2,112Employee $ saved per active participant
0.51%Direct admin cost, % of plan assets
$31.6MNet plan assets, end of year
$59,119Average balance per account
Score breakdown
- Employer generosity37.3 / 5075th percentile for employer $ per participant
- Low cost5.6 / 2522th percentile for low admin cost vs. same-size plans
- Employee saving6.6 / 1544th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score43 / 100 · Grade D
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 75th |
| Lower admin cost | 22th |
| Employee saving | 44th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($276 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Keweenaw Bay Indian Community put in about $1,810 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 (0.51% 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 | $1,074,251 |
| Participant (employee) contributions | $1,253,357 |
| Other contributions (incl. rollovers in) | $67,623 |
| Administrative expenses paid from the plan | $156,430 |
| Investment advisory & management fees | $78,536 |
| Benefits paid out | $2,662,282 |
| Net assets, start / end of year | $29.3M / $31.6M |
| Active participants, start / end of year | 629 / 558 |
| Participants with account balances | 535 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mrpr Group PC |
Largest service providers (Schedule C)
| Global Retirement Partners LLC | $73,488 reported compensation |
| Empower Annuity Insurance Company | $63,894 reported compensation |
| Mrpr Group PC | $14,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010094237NAL0004471651001, received 2025-10-10, EIN 38-1743340, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.