Strata Corporation 401(k) Review & Grade
Strata Corporation 401(k)
Grand Forks, NDMining, Oil & Gas674 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$469Employer $ per active participant
$3,993Employee $ saved per active participant
0.24%Direct admin cost, % of plan assets
$59.4MNet plan assets, end of year
$71,853Average balance per account
Score breakdown
- Employer generosity1.2 / 502th percentile for employer $ per participant
- Low cost12.2 / 2549th percentile for low admin cost vs. same-size plans
- Employee saving2.6 / 1517th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Mining, Oil & Gas plans with 500–2,499 active participants (129 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 2th |
| Lower admin cost | 49th |
| Employee saving | 17th |
| Peers that auto-enroll | 60% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Strata put in about $469 per active participant, below the typical peer ($4,357). 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 | $315,762 |
| Participant (employee) contributions | $2,689,071 |
| Other contributions (incl. rollovers in) | $9,870 |
| Administrative expenses paid from the plan | $135,722 |
| Investment advisory & management fees | $8,619 |
| Benefits paid out | $4,598,565 |
| Net assets, start / end of year | $54.1M / $59.4M |
| Active participants, start / end of year | 639 / 708 |
| Participants with account balances | 826 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Brady, Martz & Associates, P.C. |
Largest service providers (Schedule C)
| Alerus Financial, N.A. | $128,064 reported compensation |
| Alerus Investment Advisors, Inc. | $8,619 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251013100156NAL0000452595001, received 2025-10-13, EIN 45-0276869, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.