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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.2 years Service code 15 · EIN 45-6062081 | Recordkeeping | $20,232 |
Filed as: DWAYNE JOHNSON & ASSOCIATES Service code 10 · EIN 39-1750654 | Accounting | $10,260 |
SPECTRUM INVESTMENT ADVISORS2 years Service code 16 · EIN 38-1828175 | Consulting | $7,676 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $25,546 | $78,428-67.4% | $95,960-73.4% | $79,852-68.0% |
| Participation rate | 95.3% | 73.5%+21.8pp | 77.1%+18.2pp | 69.6%+25.7pp |
| Annual return | 12.54% | 19.37%-6.8pp | 91.63%-79.1pp | 31.72%-19.2pp |
| Employer contribution / active EE | $263 | $1,945-86.5% | $2,541-89.6% | $2,471-89.3% |
| Participant deferral / active EE | $2,004 | $3,440-41.7% | $4,167-51.9% | $3,740-46.4% |
| Admin fee / account holder | $439 | $5,622-92.2% | $6,797-93.5% | $5,306-91.7% |