Filed April 23, 2021 (most recent of 6 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
ICAPITAL, LLC4+ years Service code 26 · EIN 76-0708798 | Advisory (Participants) | $25,430 |
ALERUS FINANCIAL, N.A.3 years Service code 15 · EIN 45-6062081 | Recordkeeping | $16,776 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $56,282 | $79,523-29.2% | $140,019-59.8% | $56,2890% |
| Participation rate | 82.8% | 85.7%-2.9pp | 87.5%-4.7pp | 69.9%+12.9pp |
| Annual return | -8.71% | 2.39%-11.1pp | 651.17%-659.9pp | -9.96%+1.3pp |
| Employer contribution / active EE | $1,751 | $3,350-47.7% | $5,605-68.8% | $2,111-17.1% |
| Participant deferral / active EE | $2,964 | $5,129-42.2% | $6,927-57.2% | $3,350-11.5% |
| Admin fee / account holder | $343 | $614-44.1% | $10,705-96.8% | $521-34.1% |