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| Provider | Service type | Compensation |
|---|---|---|
BAM ADVISOR SERVICES5+ years Filed as: BAM ADVISOR SERVICES LLC Service code 26 · EIN 20-8307105 | Advisory (Participants) | $18,499 |
ALERUS FINANCIAL, N.A.3 years Service code 15 · EIN 45-6062081 | Recordkeeping | $13,224 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $34,406 | $49,138-30.0% | $84,020-59.0% | $65,185-47.2% |
| Participation rate | 45.3% | 60.7%-15.4pp | 69.0%-23.7pp | 70.2%-24.9pp |
| Annual return | 14.77% | 23.00%-8.2pp | 71.31%-56.5pp | 29.38%-14.6pp |
| Employer contribution / active EE | $239 | $914-73.8% | $1,984-87.9% | $2,177-89.0% |
| Participant deferral / active EE | $1,426 | $2,397-40.5% | $3,239-56.0% | $3,514-59.4% |
| Admin fee / account holder | $334 | $543-38.5% | $6,101-94.5% | $847-60.6% |