Gun Lake Tribal Gaming Authority 401(k) Review & Grade
The Gun Lake Tribal Gaming Authority 401(k) Retirement Plan
Wayland, MIArts, Entertainment & Recreation952 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$1,697Employer $ per active participant
$2,963Employee $ saved per active participant
0.26%Direct admin cost, % of plan assets
$24.6MNet plan assets, end of year
$20,888Average balance per account
Score breakdown
- Employer generosity36.2 / 5072th percentile for employer $ per participant
- Low cost11.4 / 2546th percentile for low admin cost vs. same-size plans
- Employee saving9.6 / 1564th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 72th |
| Lower admin cost | 46th |
| Employee saving | 64th |
| Peers that auto-enroll | 38% |
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Red flags from the filing
Corrective distributions: the plan refunded $3,778 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Gun Lake Tribal Gaming Authority put in about $1,697 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 | $1,616,237 |
| Participant (employee) contributions | $2,822,159 |
| Other contributions (incl. rollovers in) | $157,754 |
| Administrative expenses paid from the plan | $59,000 |
| Benefits paid out | $2,923,983 |
| Net assets, start / end of year | $20.4M / $24.6M |
| Active participants, start / end of year | 997 / 908 |
| Participants with account balances | 1,177 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Wipfli LLP |
Largest service providers (Schedule C)
| Adp, Inc. | $59,000 reported compensation |
| Morgan Stanley | $0 reported compensation |
| Adp Broker-Dealer | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015050955NAL0001908675001, received 2025-10-15, EIN 80-0582592, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.