Saginaw Chippewa Indian Tribe of Michigan 401(k) Review & Grade
Saginaw Chippewa Indian Tribe of Michigan 401(k) Profit Sharing Plan
MT. Pleasant, MIPublic Administration4,302 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$923Employer $ per active participant
$1,716Employee $ saved per active participant
0.10%Direct admin cost, % of plan assets
$127.0MNet plan assets, end of year
$34,313Average balance per account
Score breakdown
- Employer generosity15.5 / 5031th percentile for employer $ per participant
- Low cost14.2 / 2557th percentile for low admin cost vs. same-size plans
- Employee saving3.3 / 1522th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score40 / 100 · Grade D
This plan vs. peers
Peers: all industries, plans with 2,500–9,999 active participants (fewer than 30 industry peers) (2,386 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 31th |
| Lower admin cost | 57th |
| Employee saving | 22th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $7,868 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Saginaw Chippewa Indian Tribe of Michigan put in about $923 per active participant, below the typical peer ($2,062). 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.
- 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 | $3,968,966 |
| Participant (employee) contributions | $7,381,464 |
| Other contributions (incl. rollovers in) | $101,292 |
| Administrative expenses paid from the plan | $121,098 |
| Investment advisory & management fees | $10,668 |
| Benefits paid out | $12,619,188 |
| Net assets, start / end of year | $109.5M / $127.0M |
| Active participants, start / end of year | 4,579 / 4,025 |
| Participants with account balances | 3,700 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Brady Martz & Associates P.C. |
Largest service providers (Schedule C)
| Schwab Retirement Plan Services Inc | $121,098 reported compensation |
| Charles Schwab & Co.,inc. | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008144103NAL0014016898001, received 2025-10-08, EIN 38-6178758, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.