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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 | $69,745+56.5% | $67,511+61.7% | $74,546+46.4% |
| Participation rate | 91.8% | 71.3%+20.4pp | 72.9%+18.9pp | 67.2%+24.5pp |
| Annual return | 17.71% | -40.37%+58.1pp | 3517.41%-3499.7pp | 1366.03%-1348.3pp |
| Employer contribution / active EE | $2,313 | $2,705-14.5% | $2,733-15.4% | $2,624-11.9% |
| Participant deferral / active EE | $6,767 | $3,636+86.1% | $4,000+69.2% | $4,347+55.6% |
| Admin fee / account holder | $342 | $894-61.8% | $3,999-91.4% | $1,944-82.4% |