Bay Mills Indian Community 401(k) Review & Grade
Bay Mills Indian Community 401(k) Plan
Brimley, MIPublic Administration626 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$730Employer $ per active participant
$1,280Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$12.2MNet plan assets, end of year
–Average balance per account (account count looks misreported)
Score breakdown
- Employer generosity13.4 / 5027th percentile for employer $ per participant
- Low cost10.4 / 2542th percentile for low admin cost vs. same-size plans
- Employee saving2.4 / 1516th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-15 pts2 issues 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 | 27th |
| Lower admin cost | 42th |
| Employee saving | 16th |
| 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 ($17,227 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
No fidelity bond: the plan reported it was not covered by a fidelity bond, which protects participants against theft.
What to do if you're in this plan
- Bay Mills Indian Community put in about $730 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.
- 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 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 | $457,269 |
| Participant (employee) contributions | $801,509 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $33,183 |
| Contract administrator fees | $450 |
| Benefits paid out | $1,116,715 |
| Net assets, start / end of year | $10.7M / $12.2M |
| Active participants, start / end of year | 635 / 617 |
| Participants with account balances | 301 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Rehmann Robson LLC |
Largest service providers (Schedule C)
| Newport Group, Inc. | $33,183 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251209101958NAL0003677216001, received 2025-12-09, EIN 38-1970365, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.