Mississippi Band of Choctaw Indians 401(k) Review & Grade
Mbci Tribal Government Enterprise 401(k) Plan
Choctaw, MSPublic Administration2,444 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$976Employer $ per active participant
$1,395Employee $ saved per active participant
0.84%Direct admin cost, % of plan assets
$40.7MNet plan assets, end of year
$17,954Average balance per account
Score breakdown
- Employer generosity16.4 / 5033th percentile for employer $ per participant
- Low cost2.3 / 259th percentile for low admin cost vs. same-size plans
- Employee saving2.6 / 1517th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score14 / 100 · Grade F
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 | 33th |
| Lower admin cost | 9th |
| Employee saving | 17th |
| Peers that auto-enroll | 47% |
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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 ($1,281,201 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
- Mississippi Band of Choctaw Indians put in about $976 per active participant, below the typical peer ($1,749). 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.
- Direct plan expenses (0.84% 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 | $2,387,012 |
| Participant (employee) contributions | $3,410,382 |
| Other contributions (incl. rollovers in) | $322,752 |
| Administrative expenses paid from the plan | $338,295 |
| Contract administrator fees | $338,295 |
| Benefits paid out | $8,222,111 |
| Net assets, start / end of year | $39.8M / $40.7M |
| Active participants, start / end of year | 2,439 / 2,450 |
| Participants with account balances | 2,269 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Trailbreaker Accounting PLLC |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $200,248 reported compensation |
| Orenda Retirement | $108,044 reported compensation |
| Harper, Rains, Knight & Company | $17,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015165720NAL0005472913001, received 2025-10-15, EIN 64-0345731, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.