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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.10+ years Filed as: ALERUS FINANCIAL Service code 15 · EIN 45-6062081 TWO PINE TREE DRIVE, SUITE 400 · ARDEN HILLS, MN 55112 | Recordkeeping | $66,900 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $119,884 | $81,276+47.5% | $155,574-22.9% | $80,925+48.1% |
| Participation rate | 100.0% | 66.2%+33.8pp | 78.2%+21.8pp | 67.7%+32.3pp |
| Annual return | 13.62% | 33.36%-19.7pp | 64.87%-51.2pp | 35.65%-22.0pp |
| Employer contribution / active EE | $2,696 | $3,103-13.1% | $4,676-42.3% | $2,756-2.2% |
| Participant deferral / active EE | $4,870 | $3,453+41.0% | $5,629-13.5% | $4,299+13.3% |
| Admin fee / account holder | $524 | $7,993-93.4% | $15,914-96.7% | $6,940-92.4% |