Santa Ynez Band of Chumash Indians 401(k) Review & Grade
Santa Ynez Band of Chumash Indians 401(k) Plan
Santa Ynez, CAAccommodation & Food Services2,398 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,681Employer $ per active participant
$4,725Employee $ saved per active participant
0.33%Direct admin cost, % of plan assets
$144.4MNet plan assets, end of year
$45,816Average balance per account
Score breakdown
- Employer generosity47.4 / 5095th percentile for employer $ per participant
- Low cost9.2 / 2537th percentile for low admin cost vs. same-size plans
- Employee saving14.4 / 1596th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score71 / 100 · Grade B
This plan vs. peers
Peers: Accommodation & Food Services plans with 500–2,499 active participants (458 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 95th |
| Lower admin cost | 37th |
| Employee saving | 96th |
| Peers that auto-enroll | 17% |
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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 ($561 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
- Santa Ynez Band of Chumash Indians put in about $1,681 per active participant, more than the typical peer ($266). 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.
- 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 | $4,030,232 |
| Participant (employee) contributions | $11,328,624 |
| Other contributions (incl. rollovers in) | $749,564 |
| Administrative expenses paid from the plan | $441,014 |
| Other admin expenses | $441,014 |
| Benefits paid out | $8,632,835 |
| Net assets, start / end of year | $120.6M / $144.4M |
| Active participants, start / end of year | 2,379 / 2,416 |
| Participants with account balances | 3,151 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Miller Kaplan Arase LLP |
Largest service providers (Schedule C)
| The Vanguard Group, Inc. | $383,609 reported compensation |
| Vanguard Advisers Inc. | $62,109 reported compensation |
| Innovest Portfolio Solutions LLC | $27,445 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251005164510NAL0002906449001, received 2025-10-05, EIN 77-0374673, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.