Prairie Island Indian Community 401(k) Review & Grade
Prairie Island Indian Community 401(k) Retirement Plan
Red Wing, MNArts, Entertainment & Recreation1,281 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$829Employer $ per active participant
$2,283Employee $ saved per active participant
0.37%Direct admin cost, % of plan assets
$53.7MNet plan assets, end of year
$79,462Average balance per account
Score breakdown
- Employer generosity21.7 / 5043th percentile for employer $ per participant
- Low cost8.4 / 2534th percentile for low admin cost vs. same-size plans
- Employee saving7.3 / 1549th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score27 / 100 · Grade F
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 34th |
| Employee saving | 49th |
| 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 ($566 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $18,572 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Prairie Island Indian Community put in about $829 per active participant, below the typical peer ($995). 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 (0.37% 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 | $1,061,924 |
| Participant (employee) contributions | $2,923,908 |
| Other contributions (incl. rollovers in) | $886,917 |
| Administrative expenses paid from the plan | $186,932 |
| Contract administrator fees | $146,932 |
| Investment advisory & management fees | $40,000 |
| Benefits paid out | $4,471,184 |
| Net assets, start / end of year | $48.6M / $53.7M |
| Active participants, start / end of year | 1,269 / 1,293 |
| Participants with account balances | 676 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Schechter Dokken Kanter Andrews & S |
Largest service providers (Schedule C)
| Lincoln National Corporation | $146,932 reported compensation |
| Creative Planning, LLC | $40,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015140810NAL0004778433001, received 2025-10-15, EIN 41-1231069, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.