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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.1+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $18,529 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $92,034 | $59,191+55.5% | $76,767+19.9% | $56,289+63.5% |
| Participation rate | 51.8% | 75.2%-23.4pp | 77.0%-25.2pp | 69.9%-18.0pp |
| Annual return | -2.67% | 6.62%-9.3pp | 2.43%-5.1pp | -9.96%+7.3pp |
| Employer contribution / active EE | $712 | $1,759-59.5% | $2,485-71.4% | $2,111-66.3% |
| Participant deferral / active EE | $3,667 | $3,255+12.7% | $3,852-4.8% | $3,350+9.5% |
| Admin fee / account holder | $168 | $489-65.6% | $6,675-97.5% | $521-67.7% |