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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.7+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $663 |
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.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $51,818 | $60,989-15.0% | $60,888-14.9% | $66,923-22.6% |
| Participation rate | 31.1% | 74.5%-43.4pp | 73.1%-42.0pp | 69.8%-38.7pp |
| Annual return | -11.96% | -9.60%-2.4pp | 16.91%-28.9pp | 1.58%-13.5pp |
| Employer contribution / active EE | $0 | $2,661-100.0% | $2,702-100.0% | $2,545-100.0% |
| Participant deferral / active EE | $1,094 | $3,615-69.7% | $3,817-71.3% | $4,237-74.2% |
| Admin fee / account holder | $17 | $338-95.1% | $3,225-99.5% | $593-97.2% |