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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $44,833 |
HAYS FINANCIAL GROUP10+ years Filed as: THE HAYS GROUP, INC. Service code 15 · EIN 41-1784898 | Recordkeeping | $20,000 |
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.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $169,648 | $84,556+100.6% | $116,228+46.0% | $74,304+128.3% |
| Participation rate | 82.3% | 66.0%+16.3pp | 74.6%+7.8pp | 60.3%+22.0pp |
| Annual return | 11.45% | 18.35%-6.9pp | 90.06%-78.6pp | 29.43%-18.0pp |
| Employer contribution / active EE | $0 | $2,168-100.0% | $2,994-100.0% | $2,241-100.0% |
| Participant deferral / active EE | $4,347 | $3,814+14.0% | $4,953-12.2% | $3,767+15.4% |
| Admin fee / account holder | $381 | $3,792-89.9% | $11,989-96.8% | $2,969-87.2% |