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| Provider | Service type | Compensation |
|---|---|---|
BAM ADVISOR SERVICES3+ years Filed as: BAM ADVISOR SERVICES LLC Service code 26 · EIN 20-8307105 | Advisory (Participants) | $22,843 |
ALERUS FINANCIAL, N.A.1 year Service code 15 · EIN 45-6062081 | Recordkeeping | $12,688 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $36,100 | $51,466-29.9% | $78,778-54.2% | $62,293-42.0% |
| Participation rate | 44.3% | 59.8%-15.5pp | 69.2%-24.9pp | 69.5%-25.2pp |
| Annual return | 12.02% | 19.96%-7.9pp | 35.62%-23.6pp | 28.90%-16.9pp |
| Employer contribution / active EE | $212 | $827-74.3% | $1,986-89.3% | $2,042-89.6% |
| Participant deferral / active EE | $1,291 | $2,147-39.9% | $2,958-56.4% | $3,169-59.3% |
| Admin fee / account holder | $348 | $489-28.8% | $5,134-93.2% | $479-27.3% |