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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $32,227 |
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.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $65,065 | $75,541-13.9% | $152,093-57.2% | $82,637-21.3% |
| Participation rate | 100.0% | 66.5%+33.5pp | 77.8%+22.2pp | 68.1%+31.9pp |
| Annual return | 10.16% | 32.56%-22.4pp | 66.36%-56.2pp | 53.51%-43.3pp |
| Employer contribution / active EE | $5,560 | $2,622+112.0% | $4,175+33.2% | $2,552+117.9% |
| Participant deferral / active EE | $1,395 | $3,206-56.5% | $5,451-74.4% | $4,126-66.2% |
| Admin fee / account holder | $313 | $6,405-95.1% | $14,497-97.8% | $7,339-95.7% |