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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 | $81,233+47.6% | $155,567-22.9% | $80,874+48.2% |
| Participation rate | 100.0% | 66.2%+33.8pp | 78.2%+21.8pp | 67.6%+32.4pp |
| Annual return | 13.62% | 33.33%-19.7pp | 64.74%-51.1pp | 35.62%-22.0pp |
| Employer contribution / active EE | $2,696 | $3,101-13.1% | $4,674-42.3% | $2,756-2.2% |
| Participant deferral / active EE | $4,870 | $3,452+41.1% | $5,628-13.5% | $4,297+13.3% |
| Admin fee / account holder | $524 | $7,998-93.4% | $15,916-96.7% | $6,935-92.4% |