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Solo shows the percentile for each metric against plans of the same size and industry. $4.99 for your first month, then $34.99 a month. Cancel any time.
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Solo shows up to ten years of filings for this plan, year over year. $4.99 for your first month, then $34.99 a month. Cancel any time.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.3+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $4,974 |
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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $16,488 | $71,192-76.8% | $117,854-86.0% | $62,292-73.5% |
| Participation rate | 40.4% | 74.2%-33.8pp | 79.7%-39.3pp | 69.5%-29.1pp |
| Annual return | 24.57% | 18.66%+5.9pp | 335.08%-310.5pp | 28.90%-4.3pp |
| Employer contribution / active EE | $0 | $1,934-100.0% | $3,786-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $693 | $3,189-78.3% | $4,482-84.5% | $3,169-78.1% |
| Admin fee / account holder | $50 | $587-91.5% | $8,020-99.4% | $479-89.6% |