Filed August 19, 2024
Sign up free to preview peer percentile detail
Free accounts unlock saves, downloads, and 3-year history.
Sign up free to preview 10-year trajectory
Free accounts unlock saves, downloads, and 3-year history.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.3+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $48,086 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $153,888 | $63,346+142.9% | $92,239+66.8% | $70,124+119.5% |
| Participation rate | 80.2% | 68.7%+11.6pp | 76.5%+3.8pp | 69.5%+10.7pp |
| Annual return | 12.19% | 530.19%-518.0pp | 176.29%-164.1pp | 73.14%-61.0pp |
| Employer contribution / active EE | $0 | $2,471-100.0% | $3,680-100.0% | $2,342-100.0% |
| Participant deferral / active EE | $8,815 | $2,854+208.9% | $3,897+126.2% | $3,332+164.6% |
| Admin fee / account holder | $553 | $3,841-85.6% | $5,194-89.4% | $4,645-88.1% |