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.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $1,765 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $12,907 | $57,108-77.4% | $94,224-86.3% | $52,331-75.3% |
| Participation rate | 38.3% | 72.9%-34.6pp | 78.8%-40.5pp | 68.1%-29.8pp |
| Annual return | -0.37% | 1.47%-1.8pp | 10.68%-11.1pp | 4.54%-4.9pp |
| Employer contribution / active EE | $0 | $1,735-100.0% | $3,587-100.0% | $1,882-100.0% |
| Participant deferral / active EE | $812 | $3,040-73.3% | $4,320-81.2% | $3,022-73.1% |
| Admin fee / account holder | $20 | $546-96.3% | $6,269-99.7% | $592-96.6% |