Prairie Meadows Racetrack & Casino, Inc. 401(k) Review & Grade
Prairie Meadows Racetrack & Casino Employee 401(k) Savings Plan
Altoona, IAArts, Entertainment & Recreation917 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,412Employer $ per active participant
$4,123Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$91.3MNet plan assets, end of year
$81,245Average balance per account
Score breakdown
- Employer generosity47.5 / 5095th percentile for employer $ per participant
- Low cost10.6 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving12.2 / 1581th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score77 / 100 · Grade A
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 42th |
| Employee saving | 81th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,528 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Prairie Meadows Racetrack & Casino put in about $4,412 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.
- 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.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- 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 | $4,046,249 |
| Participant (employee) contributions | $3,781,033 |
| Other contributions (incl. rollovers in) | $635,160 |
| Administrative expenses paid from the plan | $247,577 |
| Contract administrator fees | $247,577 |
| Benefits paid out | $8,658,958 |
| Net assets, start / end of year | $82.1M / $91.3M |
| Active participants, start / end of year | 915 / 919 |
| Participants with account balances | 1,124 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $247,576 reported compensation |
| Captrust Financial Group | $80,583 reported compensation |
| Deloitte & Touche LLP | $34,650 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250902152157NAL0029911298001, received 2025-09-02, EIN 42-1244913, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.