Mille Lacs Corporate Ventures 401(k) Review & Grade
Mille Lacs Corporate Ventures Retirement Plan
Onamia, MNProfessional, Scientific & Technical Services1,698 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,264Employer $ per active participant
$1,823Employee $ saved per active participant
0.21%Direct admin cost, % of plan assets
$85.3MNet plan assets, end of year
$85,838Average balance per account
Score breakdown
- Employer generosity11.6 / 5023th percentile for employer $ per participant
- Low cost13.1 / 2552th percentile for low admin cost vs. same-size plans
- Employee saving1.4 / 1510th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score29 / 100 · Grade F
This plan vs. peers
Peers: Professional, Scientific & Technical Services plans with 500–2,499 active participants (1,469 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 23th |
| Lower admin cost | 52th |
| Employee saving | 10th |
| Peers that auto-enroll | 48% |
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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
- Mille Lacs Corporate Ventures put in about $1,264 per active participant, below the typical peer ($3,082). Any match is still an instant return, so contribute enough to get all of it.
- 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.
- 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 | $2,147,112 |
| Participant (employee) contributions | $3,097,111 |
| Other contributions (incl. rollovers in) | $1,273,634 |
| Administrative expenses paid from the plan | $171,387 |
| Investment advisory & management fees | $32,832 |
| Benefits paid out | $9,021,807 |
| Net assets, start / end of year | $76.7M / $85.3M |
| Active participants, start / end of year | 1,925 / 1,472 |
| Participants with account balances | 994 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $138,555 reported compensation |
| Sageview Advisory Group, LLC | $32,832 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260825110913NAL0025687328001, received 2026-08-25, EIN 41-1886671, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.