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| Provider | Service type | Compensation |
|---|---|---|
BAM ADVISOR SERVICES3 years Service code 26 · EIN 20-8307105 | Advisory (Participants) | $15,982 |
SAX WEALTH ADVISORS, LLC1 year Service code 26 · EIN 22-3645620 | Advisory (Participants) | $15,628 |
ALERUS FINANCIAL, N.A.3 years Service code 15 · EIN 45-6062081 | Recordkeeping | $10,986 |
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.)
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $66,110 | $72,620-9.0% | $90,760-27.2% | $66,938-1.2% |
| Participation rate | 38.0% | 73.7%-35.7pp | 75.7%-37.7pp | 69.8%-31.8pp |
| Annual return | -12.67% | -12.28%-0.4pp | -12.16%-0.5pp | 1.58%-14.3pp |
| Employer contribution / active EE | $822 | $2,369-65.3% | $2,922-71.9% | $2,545-67.7% |
| Participant deferral / active EE | $2,560 | $3,979-35.7% | $4,565-43.9% | $4,238-39.6% |
| Admin fee / account holder | $484 | $707-31.6% | $8,444-94.3% | $594-18.4% |