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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.6+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $16,089 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $72,857 | $196,842-63.0% | $112,977-35.5% | - |
| Participation rate | 16.1% | 71.6%-55.5pp | 82.6%-66.5pp | - |
| Annual return | 12.79% | 11.43%+1.4pp | 24.24%-11.5pp | - |
| Employer contribution / active EE | $0 | $2,386-100.0% | $4,255-100.0% | - |
| Participant deferral / active EE | $683 | $3,828-82.2% | $5,836-88.3% | - |
| Admin fee / account holder | $255 | $15,940-98.4% | $6,294-95.9% | - |