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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.3+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $16,736 |
ORGEL WEALTH MANAGEMENT3+ years Service code 12 2420 RIVERS EDGE DR · ALTOONA, WI 54720 | Direct payment from the plan; Claims ... | $11,902 |
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.
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).
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 | $51,123 | $54,193-5.7% | $93,669-45.4% | $77,714-34.2% |
| Participation rate | 16.8% | 63.9%-47.1pp | 68.7%-51.9pp | 70.6%-53.8pp |
| Annual return | 13.76% | 30.54%-16.8pp | 133.59%-119.8pp | 31.26%-17.5pp |
| Employer contribution / active EE | $501 | $1,168-57.1% | $2,424-79.3% | $2,727-81.6% |
| Participant deferral / active EE | $1,108 | $3,144-64.8% | $4,416-74.9% | $4,649-76.2% |
| Admin fee / account holder | $349 | $576-39.3% | $8,291-95.8% | $433-19.4% |