Lac Courte Oreilles Tribal Governing Board 401(k) Review & Grade
Lco 401(k) Plan
Hayward, WIOther Services1,065 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,534Employer $ per active participant
$1,410Employee $ saved per active participant
0.66%Direct admin cost, % of plan assets
$15.2MNet plan assets, end of year
$14,684Average balance per account
Score breakdown
- Employer generosity29.1 / 5058th percentile for employer $ per participant
- Low cost3.7 / 2515th percentile for low admin cost vs. same-size plans
- Employee saving4.9 / 1533th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-18 pts3 issues reported on the filing
Total score23 / 100 · Grade F
This plan vs. peers
Peers: Other Services plans with 500–2,499 active participants (333 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 58th |
| Lower admin cost | 15th |
| Employee saving | 33th |
| Peers that auto-enroll | 40% |
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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 ($131,038 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Auditor disclaimer: the auditor issued a disclaimer of opinion.
Corrective distributions: the plan refunded $55,620 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Lac Courte Oreilles Tribal Governing Board put in about $1,534 per active participant, more than the typical peer ($1,257). 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 (0.66% 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 | $1,633,745 |
| Participant (employee) contributions | $1,501,881 |
| Other contributions (incl. rollovers in) | $28,455 |
| Administrative expenses paid from the plan | $90,701 |
| Investment advisory & management fees | $37,506 |
| Benefits paid out | $1,690,021 |
| Net assets, start / end of year | $12.3M / $15.2M |
| Active participants, start / end of year | 955 / 1,175 |
| Participants with account balances | 1,036 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Midwest Professionals, P.L.L.C. |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $53,195 reported compensation |
| Global Retirement Partners LLC | $37,506 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015143624NAL0002579699014, received 2025-10-15, EIN 39-1165322, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.