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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1 year Service code 15 · EIN 45-6062081 | Recordkeeping | $38,144 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $84,790 | $73,638+15.1% | $95,960-11.6% | $73,493+15.4% |
| Participation rate | 83.5% | 76.2%+7.3pp | 77.1%+6.4pp | 70.7%+12.8pp |
| Annual return | 17.93% | 16.78%+1.1pp | 91.63%-73.7pp | 28.51%-10.6pp |
| Employer contribution / active EE | $3,822 | $1,863+105.1% | $2,541+50.4% | $2,270+68.3% |
| Participant deferral / active EE | $5,647 | $3,617+56.1% | $4,167+35.5% | $3,740+51.0% |
| Admin fee / account holder | $321 | $482-33.5% | $6,797-95.3% | $513-37.5% |