Otoe-Missouria Development Authority 401(k) Review & Grade
Otoe-Missouria Development Authority 401(k) Profit Sharing Plan & Trust
Oklahoma City, OKArts, Entertainment & Recreation538 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$493Employer $ per active participant
$870Employee $ saved per active participant
0.76%Direct admin cost, % of plan assets
$6.7MNet plan assets, end of year
$11,762Average balance per account
Score breakdown
- Employer generosity15.8 / 5032th percentile for employer $ per participant
- Low cost2.8 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving2.7 / 1518th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score18 / 100 · Grade F
This plan vs. peers
Peers: Arts, Entertainment & Recreation plans with 500–2,499 active participants (225 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 32th |
| Lower admin cost | 11th |
| Employee saving | 18th |
| Peers that auto-enroll | 38% |
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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 ($8,635 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
Corrective distributions: the plan refunded $27,449 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Otoe-Missouria Development Authority put in about $493 per active participant, below the typical peer ($995). 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.
- Direct plan expenses (0.76% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- 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 | $265,287 |
| Participant (employee) contributions | $468,476 |
| Other contributions (incl. rollovers in) | $132,817 |
| Administrative expenses paid from the plan | $47,874 |
| Investment advisory & management fees | $4,107 |
| Other admin expenses | $1,160 |
| Benefits paid out | $685,720 |
| Net assets, start / end of year | $5.9M / $6.7M |
| Active participants, start / end of year | 553 / 524 |
| Participants with account balances | 571 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Redw LLC |
Largest service providers (Schedule C)
| Bokf, NA | $50,974 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251010143855NAL0012818768001, received 2025-10-10, EIN 06-1785997, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.