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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 | Claims processing; Direct payment fro... | $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 | $54,245-5.8% | $93,727-45.5% | $77,762-34.3% |
| Participation rate | 16.8% | 63.9%-47.1pp | 68.7%-51.9pp | 70.6%-53.8pp |
| Annual return | 13.76% | 30.58%-16.8pp | 133.83%-120.1pp | 31.27%-17.5pp |
| Employer contribution / active EE | $501 | $1,168-57.1% | $2,421-79.3% | $2,728-81.6% |
| Participant deferral / active EE | $1,108 | $3,144-64.8% | $4,417-74.9% | $4,651-76.2% |
| Admin fee / account holder | $349 | $575-39.3% | $8,292-95.8% | $433-19.3% |