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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.3 years Service code 15 · EIN 45-6062081 | Recordkeeping | $63,235 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $93,196 | $95,415-2.3% | $185,851-49.9% | $85,851+8.6% |
| Participation rate | 100.0% | 68.8%+31.2pp | 81.7%+18.3pp | 69.3%+30.7pp |
| Annual return | 14.68% | 23.59%-8.9pp | 122.11%-107.4pp | 318.63%-304.0pp |
| Employer contribution / active EE | $3,698 | $3,314+11.6% | $5,168-28.4% | $2,565+44.2% |
| Participant deferral / active EE | $4,281 | $3,424+25.1% | $5,569-23.1% | $3,952+8.3% |
| Admin fee / account holder | $426 | $7,215-94.1% | $16,245-97.4% | $6,261-93.2% |