See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 8-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.3+ years Service code 15 · EIN 45-6062081 | Recordkeeping | $8,959 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $21,079 | $64,909-67.5% | $82,313-74.4% | $62,292-66.2% |
| Participation rate | 55.5% | 74.9%-19.4pp | 76.9%-21.4pp | 69.5%-14.0pp |
| Annual return | 14.84% | 21.18%-6.3pp | 25.88%-11.0pp | 28.90%-14.1pp |
| Employer contribution / active EE | $249 | $1,676-85.1% | $2,428-89.7% | $2,042-87.8% |
| Participant deferral / active EE | $1,678 | $3,103-45.9% | $3,706-54.7% | $3,169-47.0% |
| Admin fee / account holder | $81 | $440-81.5% | $5,608-98.5% | $479-83.0% |