Filed December 6, 2019
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: BREMER BANK NA Service code 27 · EIN 41-0224890 | Advisory (Plan) | $28,692 |
Service code 60 · EIN 04-2647786 | Sub-TA Fees | $14,989 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $64,738 | $89,465-27.6% | $165,071-60.8% | $77,736-16.7% |
| Participation rate | 23.8% | 78.6%-54.9pp | 78.6%-54.8pp | 70.6%-46.8pp |
| Annual return | 19.14% | 28.86%-9.7pp | 70.17%-51.0pp | 31.26%-12.1pp |
| Employer contribution / active EE | $1,263 | $2,565-50.8% | $4,347-70.9% | $2,728-53.7% |
| Participant deferral / active EE | $1,989 | $4,904-59.4% | $6,035-67.0% | $4,651-57.2% |
| Admin fee / account holder | $186 | $340-45.3% | $12,695-98.5% | $433-57.1% |