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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.10+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $54,796 |
ALERUS FINANCIAL, N.A.3 years Filed as: ALERUS INVESTMENT ADVISORS, INC Service code 26 · EIN 42-1378382 | Advisory (Participants) | $22,815 |
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 | $109,138 | $69,774+56.4% | $67,575+61.5% | $74,459+46.6% |
| Participation rate | 91.8% | 71.4%+20.4pp | 72.9%+18.8pp | 67.2%+24.5pp |
| Annual return | 17.71% | -40.53%+58.2pp | 3528.98%-3511.3pp | 1369.70%-1352.0pp |
| Employer contribution / active EE | $2,313 | $2,710-14.7% | $2,736-15.4% | $2,626-11.9% |
| Participant deferral / active EE | $6,767 | $3,636+86.1% | $4,003+69.0% | $4,350+55.6% |
| Admin fee / account holder | $342 | $890-61.6% | $3,993-91.4% | $1,945-82.4% |