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.4+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $48,451 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $55,522 | $44,221+25.6% | $121,208-54.2% | $56,287-1.4% |
| Participation rate | 39.7% | 61.1%-21.4pp | 71.8%-32.1pp | 69.9%-30.2pp |
| Annual return | -8.18% | -3.58%-4.6pp | 16.93%-25.1pp | -9.96%+1.8pp |
| Employer contribution / active EE | $295 | $1,480-80.0% | $4,023-92.7% | $2,111-86.0% |
| Participant deferral / active EE | $2,456 | $2,521-2.6% | $3,345-26.6% | $3,350-26.7% |
| Admin fee / account holder | $607 | $480+26.3% | $5,020-87.9% | $521+16.5% |