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| Provider | Service type | Compensation |
|---|---|---|
Service code 28 · EIN 04-2675571 29 SAWYER RD · WALTHAM, MA 02453 | Investment Management | $9,679 |
ALERUS FINANCIAL, N.A.3+ years Filed as: ALERUS RETIREMENT SOLUTIONS Service code 15 · EIN 45-6062081 2300 SOUTH COLUMBIA RD · GRAND FORKS, ND 58201 | Recordkeeping | $5,802 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $23,328 | $64,954-64.1% | $115,752-79.8% | $62,293-62.6% |
| Participation rate | 48.7% | 73.0%-24.3pp | 77.8%-29.1pp | 69.5%-20.8pp |
| Annual return | 42.96% | 24.87%+18.1pp | 19.41%+23.6pp | 28.90%+14.1pp |
| Employer contribution / active EE | $822 | $2,344-64.9% | $3,492-76.5% | $2,042-59.8% |
| Participant deferral / active EE | $1,563 | $3,665-57.4% | $5,204-70.0% | $3,169-50.7% |
| Admin fee / account holder | $55 | $414-86.8% | $6,278-99.1% | $479-88.6% |