Filed March 25, 2022 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $40,712 |
Filed as: EXCEL SECURITIES & ASSOCIATES, INC. Service code 27 · EIN 16-1540153 | Advisory (Plan) | $15,615 |
ALERUS FINANCIAL, N.A.4 years Filed as: ALERUS Service code 19 · EIN 45-6062081 | Securities Custodian | $2,109 |
Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $63,877 | $62,132+2.8% | $185,827-65.6% | $73,493-13.1% |
| Participation rate | 55.3% | 67.8%-12.5pp | 78.0%-22.7pp | 70.7%-15.4pp |
| Annual return | 19.69% | 20.44%-0.7pp | 35.96%-16.3pp | 28.51%-8.8pp |
| Employer contribution / active EE | $2,169 | $1,681+29.0% | $4,087-46.9% | $2,270-4.4% |
| Participant deferral / active EE | $4,321 | $3,711+16.4% | $5,633-23.3% | $3,740+15.6% |
| Admin fee / account holder | $372 | $419-11.1% | $9,502-96.1% | $513-27.4% |